Even though the staff do not speak English well, I am seemingly getting to know the bank personnel since each visit usually lasts at least 45 minutes, sometimes longer, and often involves various people helping me. My last visit to install internet banking on my phone had no less than two staff members, plus the bank director, and even the security guard helping me with my phone. My phone was passed around until finally the banking app was installed. For some reason, we had endless problems initiating the finger-print login so I had to settle for a pin number. When they handed back my phone, they had changed everything to Korean, so it took forever for me to reset things back to my native language.
Of course, each time I go to the bank I bring my Korean co-teacher with me to help translate. Initially, I was permitted to go to the bank during school hours as an "official work leave", necessary for all new foreign teachers. Official leave has now been exhausted and I'm now required to use "personal leave" to do my banking. Last Tuesday, I requested one hour of leave to go to the bank and needed three signatures at school from the headteacher, the vice-principal, and the principal to get the necessary permission.
My workday at the school ends at 4:30pm but banks close early in Korea, at 4 o'clock. At least, if you arrive at the bank by 4pm they are obligated to serve you. I've been finishing business in the bank nearing 5pm and had the staff escort me through the locked doors when we finished.
I never really know what's happening at the bank. It is a barrage of secret pin numbers, identification, and the signing and resigning of forms. I could be signing my life away for all I know. Once, I was only half-way through my signature before the form was grabbed away from me. I had only managed to sign "Derek". I feigned that my hand is getting tired so they'd give me a few seconds to rest. During my last visit, the staff gave me a piece of candy because they knew I was being put through the wringer. If you're setting up an account at the bank as a foreigner in Korea, cancel your evening plans, you will be exhausted.
I think I was able to set up my initial bank account with only my passport and a copy of my contract, but that account wasn't much use because I needed to have my Alien Registration Card in order to have an account with a check (debit) card. Upon returning to the bank with my Alien Registration Card, I didn't have my Canadian SIN number, which apparently I needed for some reason. That trip was a failure, but I have since received my check card and have been using it everywhere.
I need to make one more trip to the bank to apply for a second check card. The coronavirus has done a number on the local economy, so the bank has created a special check card that when used at local shops and restaurants within the city of Busan a 10% discount on all purchases is applied. It won't be valid at national chains, but still, this is a great value, and my co-teacher insists on setting me up with this card.
I don't really use cash now that I have my check card, and it took a little getting used to at first. Apparently, the customer does not tap or insert the card, they are supposed to hand it to the cashier who will do that and then pass the card back. Pin numbers are not required, but if the purchase is greater than 50,000 ₩ then you need to provide a signature on the screen.
Long since passé in Canada, bankbooks are still common in Korea. You can update your bankbook at ATMs and even withdraw cash without your check card as long as you have the bankbook and password. My bankbook features the lovely artwork of artist Eva Armisen. ATMs are not 24 hours in Korea. Instead, they are typically available from 8:30am -10pm, and free to use before 6 o'clock with a service fee after 6pm.
Having a Korean bank account in some ways makes my stay here official and signifies I am not a visitor. However, without my co-teacher, none of this would have been remotely possible. So, I'm definitely not self-sufficient, but at least I have some Korean money of my very own.
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