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There are two banks located on the SNU campus :
iconNonghyup (Building No.109)
Location : Jahayeon Cafeteria Building
The bank is located at the center of the campus and has branch offices and ATMí»s (cash machines) around the campus. This bank is recommended for those who will spend most of their time on campus.
If you wish to use your student ID card as an ATM card, you must have an account at Nonghyup.
iconShinhan Bank (Building No.941)
Location : Next to Hoam Faculty House
Despite the presence of fewer ATMs on campus than those of Nonghyup Bank,Shinhan Bank's branch offices are much more easily found in other parts of Seoul.
Tuition can be paid at either of these banks or their branches located off-campus. SNU staff and students receive preferential treatment at the branches on campus, such as better exchange rates when buying Korean Won and lower fees for wire transfers.
If you need to have money transferred from your home country, the remitter will need to know the following information. Also your bank can advise you about your options for sending money home or transferring money.
The name of bank and the bank swift code
eg. Nonghyup swift code : NACFKRSE / Shinhan swift code : CHOHKRSE
The account number of the receiver and the name of the account owner
Other information like the contact number and address of receiver
What you will need to open an account is your passport and Foreign Registration card. You will need to provide your local address and fill out an application form. On the form you can choose optional services such as online banking, phone banking and a message service to your cell phone. Be sure to get your bank book (Tongjang) to keep a record of your transactions and a cash card for using ATMs.
You can exchange money at any bank with your passport. If you are not in a hurry you can wait until the exchange rate changes in your favor. The exchange section of a bank will display the daily exchange rate. You generally do not need to pay commission for exchanging money because the fee is already included in the displayed rate. You may ask at the bank how much the included fee is.
For the convenience of the students and faculty, there are ATMs all around campus. You can withdraw and deposit cash with the cash card issued by your bank. You can also use the same machines to get cash advances with your credit card.
The campus ATMs offer service in both English and Korean. ATMs can be found in the administration building, the main library and many other college buildings. Withdrawing money from your bank's ATM is free during normal business hours (9:30 a.m.~ 4:30 p.m.). Withdrawing money from another bank's ATM machine or after business hours will require you to pay a small surcharge, around 1,000 won. However, if you only withdraw 10,000 won there is no surcharge.
There is a limit of 700,000 won per withdrawal and a 7,000,000 won daily limit. Only 10,000-won bills can be withdrawn from the ATMs. At the ATMs you can also transfer money to another account and make payments to others. A small fee is also collected in transferring money to a different bank account or transferring money after business hours.
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Copyright (c) 2006 SEOUL NATIONAL UNIVERSITY. All Rights reserved.
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