May 25, 2017, 07:33:38 PM


Author Topic: Connecting Korean Bank Account to PayPal  (Read 34243 times)

Offline cwhetsell

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Connecting Korean Bank Account to PayPal
« on: November 02, 2010, 01:06:13 PM »
So I've put in all of my bank info and everything that is needed, but PayPal doesn't want to accept my National ID number.... any ideas?

Offline Fanwarrior

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Re: Korean Paypal
« Reply #1 on: September 08, 2011, 12:13:46 AM »
Even as a Korean you can't link the account. Well you can link them, but you can't actually transfer money out of them.

Offline Craash

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Re: Connecting Korean Bank Account to PayPal
« Reply #2 on: May 04, 2013, 10:39:41 AM »


I have an Australian paypal account
and a Korean paypal account.

I easily send money from my Australia bank accounts to my Korean bank accounts
and from my Korean bank accounts to my Australia bank accounts
VIA PAYPAL very easily........

takes 3 days and costs only about $8

Offline Morticae

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Re: Connecting Korean Bank Account to PayPal
« Reply #3 on: May 04, 2013, 11:23:12 AM »


I have an Australian paypal account
and a Korean paypal account.

I easily send money from my Australia bank accounts to my Korean bank accounts
and from my Korean bank accounts to my Australia bank accounts
VIA PAYPAL very easily........

takes 3 days and costs only about $8

And how's the exchange rate?

Offline thedsr

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Re: Connecting Korean Bank Account to PayPal
« Reply #4 on: May 04, 2013, 12:11:30 PM »


I have an Australian paypal account
and a Korean paypal account.

I easily send money from my Australia bank accounts to my Korean bank accounts
and from my Korean bank accounts to my Australia bank accounts
VIA PAYPAL very easily........

takes 3 days and costs only about $8

I set up a Korean Paypal account with my credit card.  When I went to add the bank account, it still tells me my Korean ID number is not entered correctly, obviously it is....

Offline Craash

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Re: Connecting Korean Bank Account to PayPal
« Reply #5 on: May 04, 2013, 04:51:13 PM »


I have an Australian paypal account
and a Korean paypal account.

I easily send money from my Australia bank accounts to my Korean bank accounts
and from my Korean bank accounts to my Australia bank accounts
VIA PAYPAL very easily........

takes 3 days and costs only about $8

And how's the exchange rate?

fine

Offline Dochas

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Re: Paypal in Korea
« Reply #6 on: June 16, 2013, 11:47:57 PM »
That is not true.  I do not have a credit card, just a MasterCard check card from Nonghyup.  This has let me make some of my bill payments in the US and additionally I was able to sign up for Paypal Korea which I have been able to use for a few different things as well.  It even says if you go into account profile "Debit and credit cards" not just credit cards, and then it shows my check card.

Additionally I found it was a much cheaper way if I just wanted to send a small amount of money home for some reason (for example adding some money to my ps network account without buying game cards from playasia which I was buying with my Korean paypal).  Instead of expensive wire transfer fees on both end, I pay 5-6 bucks and send my US paypal money from my Korean paypal and then have the US paypal deposit it for free in my bank account.

Maybe it doesn't like Korean Visa check cards?  Originally Nonghyup tried to pass off one of those Maestro cards on me too but I said no, it had to be either Visa or MasterCard.  You can try asking for a MasterCard and see if you can get paypal working too.

I do have online banking setup, and I know I had to sign a few things for that.  You may need to include that step if you haven't set up online banking yet.  Especially since verification usually requires a small transaction that you then have to check the exact amount of, which is much easier to do with online banking.
« Last Edit: June 17, 2013, 01:04:20 AM by Dochas »

Offline Honesty1985

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Paypal problems
« Reply #7 on: December 03, 2013, 10:20:46 PM »
How can I add my Korean Bank account so I can withdraw funds?
I am having problems with my arc number not being valid.

Thanks!!

Offline Aine1979

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Re: Paypal problems
« Reply #8 on: December 03, 2013, 11:06:26 PM »
You can't. I emailed PayPal with the same query, and they only allow Korean citizens to add a Korean bank account or card to a PayPal account. That's why the ARC number is coming up as invalid.

Offline Davey

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Re: Paypal problems
« Reply #9 on: December 04, 2013, 12:06:42 AM »
You can't. I emailed PayPal with the same query, and they only allow Korean citizens to add a Korean bank account or card to a PayPal account. That's why the ARC number is coming up as invalid.

As member Dochas stated, it is possible with certain Korean international check cards (the KEB Global Check card won't work).

According to the latest info, sending money internationally involves a 3.4 - 3.9% fee. So if you're sending $1,000, that's at least $34 in fees. On the bright side, I believe Paypal exchange rates are competitive.
« Last Edit: December 04, 2013, 11:35:15 PM by Davey »
------------------------------------------
Search this site using Google by typing, "site:waygook.org [search term]," especially during peak hours. Alternatively, use the site's search function.

EPIK: VISA, RENEWING, PENSION, ETC:

http://waygook.org/index.php/topic,2614.0.html

Offline 올리버-uh

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Re: Connecting Korean Bank Account to PayPal
« Reply #10 on: December 04, 2013, 12:17:27 PM »


I have an Australian paypal account
and a Korean paypal account.

I easily send money from my Australia bank accounts to my Korean bank accounts
and from my Korean bank accounts to my Australia bank accounts
VIA PAYPAL very easily........

takes 3 days and costs only about $8

How did you link your Korean Paypal account to your Korean bank account?

Offline ViktorMestrovic

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Re: Connecting Korean Bank Account to PayPal
« Reply #11 on: December 04, 2013, 02:15:20 PM »
Hana bank does global pay as of May 2013. You can send money via transfer directly to a NON-Korean paypal account which has been verified... so a paypal from Canada, USA, etc. with a bank account attached at any point.  maximum per year is $10,000. I do this for making payments or I can sent the money from there to my korean paypal.. but there's never a problem.  I do it all online after a few clicks of the mouse and entering the security info. There's a very small fee for sending money to paypal that way. The exchange rate from won to USD is as expected from any other banking institute.

Offline joel12

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Re: Connecting Korean Bank Account to PayPal
« Reply #12 on: February 05, 2014, 06:03:41 AM »
2/5

From: Joel, joel12

The problems with PayPal in Korea are endless.  I do self-publishing in Korea, so let me just outline them, but if you are just purchasing items on the Internet and you have retained your non-Korean credit cards and you haven't been stupid and closed your non-Korean banks, you won't have a problem.

You will run into difficulties getting a Korean credit card.  Don't waste your time at KB and KEB, as I could write a separate page on Korean xenophobia.  You'll have better luck at Shinhan Bank.

The problem is when you try to connect PayPal to a Korean bank, any bank.  The problem has less to do with your Korean bank's unwillingness than with PayPal's stupidity.

I'll just list some of the problems:

1.  PayPal won't give you a functioning Korean phone # for you to connect with get PayPal screw ups taken care of.  Instead, PayPal provides a Korean phone # starting with 65, which is unconnected with PayPal and where they speak not a word of English.

2.  Once you have signed for PayPal Korea, contacting PayPal without having to pay for an international call goes out the window.  That number to PayPal, incidentally, only gets you to their American desk, but I'll give it to you anyway.  It's 1-402-935-2050.

3.  It took 25 separate phone calls and the reason I'm writing this is to save you a lot of time and aggravation, but if do change to a PayPal Korean service, it will take roughly 7 business days for PayPal to send the first 2 small test transactions, which you must confirm.

4.  You'll have more fun trying to get payments out of your Korean PayPal account and you will have to do it manually to move the payments into your Korean bank account.

Offline Ley_Druid

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Re: Connecting Korean Bank Account to PayPal
« Reply #13 on: February 05, 2014, 09:32:22 AM »
The only way to do it is to make an international Paypal account and then link it to a Korean credit card. That is what I did. If you have been here for over a year, you should qualify for the KEB 2X card.

YoungMin

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Re: Connecting Korean Bank Account to PayPal
« Reply #14 on: February 05, 2014, 09:59:13 AM »
This is how I managed to get money to paypal with funds from my Korean bank account.

1. Open a Neteller account. Select Currency of choice. Set address as Korean address.

2. Open a new paypal account. Set address identical to Neteller address.

Now you have the stuff set up and ready to go.

From your Korean bank account send an international bank transfer to your Neteller account. TIME: 1-3 days Fees: 0.

Now you have funds in your Neteller account.

1. Use the virtual credit card to send the money to your Korea paypal account. (this is where address must match).

2. YOU HAVE FUNDS IN PAYPAL INSTANTLY

The next stage of the journey depends what you want to do from here.

1. Buying stuff online will not incur any fees.

But if you want to get that money to a HOME bank account then you will have to SEND it to your HOME paypal account. (Because the address on your Korean account won't match HOME account.)

Fees are around 5% for 200EUR so 190EUR will arrive in your HOME paypal account where you can transfer to your bank account for free.

Job done.






 

Offline fly790420

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Re: Connecting Korean Bank Account to PayPal
« Reply #15 on: February 07, 2014, 10:30:01 PM »
I suggest you guys to just go to a Hana bank near you and apply for the Globalpay service. I was trying so hard to get my Korean Paypal working, but gave up eventually. Basically there is no way for it to work. As many people mentioned, due to some kind of policies in the banks here.
However, today I went to a Hana bank near my place and set up a Globalpay service.
Super easy to use! and you get your money immediately in your oversea Paypal account.
It only charged me for 3 CAD to send money to my Canadian paypal and about 50 cents CAD to withdraw money from Paypal to local bank account.
Stop wasting your time on setting up a Korean Paypal and go to Hana bank now!

Offline thunderlips

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Re: Connecting Korean Bank Account to PayPal
« Reply #16 on: April 26, 2017, 04:43:33 PM »
KEB/Hana global pay is on pause while they re-negotiate with Paypal.

So is it possible to send money to Paypal from a Korean account?

Anyone done this recently?

TIA
Knowing is half the battle.

www.impeachdonaldtrumpnow.org

Offline thunderlips

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Re: Connecting Korean Bank Account to PayPal
« Reply #17 on: April 26, 2017, 05:24:59 PM »
KEB/Hana global pay is on pause while they re-negotiate with Paypal.

So is it possible to send money to Paypal from a Korean account?

Anyone done this recently?

TIA

Oh, crap.

So I just set-up a new account with Paypal using my Korean bank and address. I added my check card as a credit card to the account. I then requested $600 from my new Korea account to my original USA paypal account. And funk me, it went through immediately.
So 691,181 was withdrawn from my Korean account and $573.30 was credited to my USA paypal account. The current exchange rate puts 691,181 won to $612.96, so roughly a fee of $40.

To clarify, I had an existing paypal account from the USA. I opened a new Korean paypal account with my banking and address info here. I added my check card as a credit card and then requested the funds from my Korean account to my USA account.

691,181 won withdrawn from Korean account
$573.30 credited to the USA account

A little expensive, but it was fast and pretty easy.

Also I should note that the money in my Korean account is unavailable, but it hasn't been fully withdrawn. I'll post any updates regarding this transaction.

*Paypal quoted the fee at $26.70, so apparently they viewed this as a payment rather than sending money for free to friends/family.
« Last Edit: April 26, 2017, 05:27:57 PM by thunderlips »
Knowing is half the battle.

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Offline emmas28

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Re: Connecting Korean Bank Account to PayPal
« Reply #18 on: April 26, 2017, 05:35:59 PM »
KEB/Hana global pay is on pause while they re-negotiate with Paypal.

So is it possible to send money to Paypal from a Korean account?

Anyone done this recently?

TIA

Oh, crap.

So I just set-up a new account with Paypal using my Korean bank and address. I added my check card as a credit card to the account. I then requested $600 from my new Korea account to my original USA paypal account. And funk me, it went through immediately.
So 691,181 was withdrawn from my Korean account and $573.30 was credited to my USA paypal account. The current exchange rate puts 691,181 won to $612.96, so roughly a fee of $40.

To clarify, I had an existing paypal account from the USA. I opened a new Korean paypal account with my banking and address info here. I added my check card as a credit card and then requested the funds from my Korean account to my USA account.

691,181 won withdrawn from Korean account
$573.30 credited to the USA account

A little expensive, but it was fast and pretty easy.

Also I should note that the money in my Korean account is unavailable, but it hasn't been fully withdrawn. I'll post any updates regarding this transaction.

*Paypal quoted the fee at $26.70, so apparently they viewed this as a payment rather than sending money for free to friends/family.

I've just been trying to find an email that I got from Paypal explaining why we couldn't send money from our Korean paypal account to foreign accounts, but we could send money to our Korean accounts from foreign accounts (no surprises there).
I'll be interested to see if it goes through ok and what the eventual cost is to send it. If I can find a way of not paying my UK bank 15.00 GBP every time I transfer I'll be happy!
Keep us updated!

Offline thunderlips

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Re: Connecting Korean Bank Account to PayPal
« Reply #19 on: April 26, 2017, 05:38:05 PM »
KEB/Hana global pay is on pause while they re-negotiate with Paypal.

So is it possible to send money to Paypal from a Korean account?

Anyone done this recently?

TIA

Oh, crap.

So I just set-up a new account with Paypal using my Korean bank and address. I added my check card as a credit card to the account. I then requested $600 from my new Korea account to my original USA paypal account. And funk me, it went through immediately.
So 691,181 was withdrawn from my Korean account and $573.30 was credited to my USA paypal account. The current exchange rate puts 691,181 won to $612.96, so roughly a fee of $40.

To clarify, I had an existing paypal account from the USA. I opened a new Korean paypal account with my banking and address info here. I added my check card as a credit card and then requested the funds from my Korean account to my USA account.

691,181 won withdrawn from Korean account
$573.30 credited to the USA account

A little expensive, but it was fast and pretty easy.

Also I should note that the money in my Korean account is unavailable, but it hasn't been fully withdrawn. I'll post any updates regarding this transaction.

*Paypal quoted the fee at $26.70, so apparently they viewed this as a payment rather than sending money for free to friends/family.

I've just been trying to find an email that I got from Paypal explaining why we couldn't send money from our Korean paypal account to foreign accounts, but we could send money to our Korean accounts from foreign accounts (no surprises there).
I'll be interested to see if it goes through ok and what the eventual cost is to send it. If I can find a way of not paying my UK bank 15.00 GBP every time I transfer I'll be happy!
Keep us updated!

I think the only reason Paypal allowed this transaction to go through was because they viewed it as a business transaction and not a free service transfer between friends/family. Kind of strange it hasn't fully processed through my Korean bank yet though..... :sad:

I'm debating refunding the transaction as I can get a cashier's check and deposit it online for only 10,000won. This transaction was actually really expensive.
« Last Edit: April 26, 2017, 05:40:32 PM by thunderlips »
Knowing is half the battle.

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