Questions & Answers

Category:

Banking

Can I cash a foreign check in Korea?

Yes, you can, but be prepared to wait a long time for your money and to pay heftier fees than you may be used to. The fees vary from bank to bank so you should check with your bank. You do have to have an account in the bank where you want to cash the cheque and you will have to wait a full 30 days before you can get the money – even if it’s a certified check. Koreans do not use personal checks, so they tend to view them with suspicion. This applies even if you have previously deposited/cashed checks from the same source in the same bank.

K4E Editor's Note: Korea4Expats.com wants to provide you with as complete and accurate information as possible, so should you find any errors or omissions in the contents above please let us know at info@korea4expats.com.



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