ATMs in Seoul
 

Are there any issues with US ATM cards and ATMs in Seoul? I take it that I won't have any problems with getting cash using an ATM in ICN?

You have to find one that is designated as a global or international ATM. The regular ones won't work. I find that most banks will have at leat one in their lobby, just look for the one marked global. Have not yet found any in the convenience stores.

I have had a MUCH easier time getting cash out of ATMs in Seoul versus Tokyo, if that helps. I bank with a smallish local credit union.

As it was said earlier, regular ATMS in Seoul will not work with your foreign debit card. Even the ones that are labeled GLOBAL or INTL seems not to work... most of the times, the banks disable the function.

I have found Citibank ATMS to be just fine.. Even better, the ATMS inside post offices, subway stations and convenience stores work EVERY time... without a doubt.

:confused::confused:

Not quite my experience....

International ATMs with the Cirrus logo would not take my Cirrus ATM-only card, but would take my bank-issued ATM/debit card (Mastercard/Cirrus). Definitely the case with the ATM I generally used in the main Seoul train station.

Aggravating, because as a rule I avoid debit cards like the plague.

ATMs in Seoul
 

Hi,

I found that my debit card worked very well when I lived in Seoul. I was actually able to use the ATM that was in the subway, at least the one in I'Taewon, which is an area near the Army base and caters to foreigners.

Jenn

I should have clarified.. when I say debit card.. i meant both debit card and credit card with the Cirrus or Plus logo.

The Korean bank ATMS with even GLOBAL or INTL will have a hard time reading these cards... even if it says Cirrus or PLUS on the machine. The best place to go and get money with any kind of foreign card is the post office, subway station or convenience store... or like i said before, a Citibank machine.

good to know about Citibank, anyone know if there is a Citibank ATM inside of ICN?

--

Yes. there is a branch and ATMS at ICN...

Address: 1F, Incheon 1st Port International Passenger Terminal 85-72, Hang-dong 7ga Jung-gu Incheon , 400037
Staffed Hours: 09:30 to 16:30
Phone: 032/891-2600
Services:
24 Hour International ATM Service
24 Hour Citicard Banking Center (CBC)
CitiGold Service
Safe Deposit Box
Emergency Cash

Most of the ATMs at ICN will work with foreign cards, just fine. You don't necessarily have to go to Citi, unless that's your home bank.. =)

I know Bank of America has affiliations with certain worldwide banks where you don't get charged for using their ATMs... At the last time I called them, there were no Korean banks that were affiliated with BofA but things might have changed now... I know there were some banks in UK, Japan, Australia and France that were affiliated with BofA.

Hi,

Sorry to dig out an old thread. But I am going there on Sat. citibank website didn't show this branch. Wondering if this is still a citibank within airport.

Thanks

to answer my own question, as i just been there couple days ago. There was no more citibank in the airport. :p

There's tons of Citibank branches in Seoul though.

Hi,

Certain machines work, and they have the option to change the language to english.

It will probably be a button in the bottom right Saying "English, chinese and japanese" In their respective languages.

Press this and then you have the choice, domestic or foreign.. Hit foreign and then you will have another choice of which account to withdraw from.. Your checking or your savings I think, regardless of whether you have savings linked to the bank card itself.

Another thing I noted that confused me while I was there is in the ATM banks, where you have five or so in a row, only one of them will be international.. And it may not always be clear.

Fees are not shown at time of withdrawal when using the English language, so that really peed me off.. charged a few thousand for the privilege and not being told about it.

Best of luck,

Will

My advice is to seek out a Citibank. There are 220 branches and they have ATM machines in the subway. No fees charged for foreign cards.

Being used to Japan, I figured there would only be a handful of Citis in the city (turned out that there was one a few 100 metes have), so I first tried a 7-11 next to my hotel. The machine was Lotte Bank. They wanted 3000 something service fee and then a conversion to USD using their rate causing nearly $10 total or 10% fee to withdraw 100,000 won.

One thing is that you can use CCs everywhere in Seoul. The only exception is public transit. If we had not taken public transit then we could have managed a weekend without any cash.

My experience with 7-11 ATMs was that I could decline the conversion to euros but it wanted the 3000 won fee. Also with any amount over 100000 wons it said with my Mastercard that withdrawal limit exceeded. In other words, better find some other ATM but 7-11 works in emergencies as long as you decline the conversion and let your bank/cc-company do it.

I had an odd problem with the Citibank ATM the last time I was there. I tried to withdraw 200,000 won but for some reason it didn't accept the last 0 and all I got was 20,000. On top of which I had to pay about 3,000 won in fees. Thinking it was my error, I tried a second time and still could not enter 200,000. I tried another Citibank machine with the same result. Finally I found a Korean bank ATM with a Global sign (forget which bank) which allowed me to withdraw the desired amount.

Another thing I noticed was that ATMS do not dispense the fairly new 50k notes, so that when withdrawing a large sum you end up with a thick wad of bills.

I just returned from a trip to Seoul and had no trouble using ATM machines linked to global networks(Cirrus, etc). It is true that not all ATM's are linked to a global network---but many are.

The banks made a big push back in 2009-2010 to get them connected. Before then it was probably pnly 10% that worked. Now its closer to 75% I would think.

Look for an ATM that has the 50,000 bill symbol posted on it. There is usually a small sign that will say 50,000 bill available here. But even then it isn't quite automatic as you need to tell the ATM how many 50,000 bills you want.

For example, say I want to withdraw 400,000 krw from the ATM. A screen usually pops up afterwards that asks how much of the 400,000 do I want in 50,000 denomination? So I have to enter 8 if I want it all in 50,000 bills. If you don't do this, the ATM will just spit out 40 of the 10,000 bills leaving you with a thick wallet. You can also enter 7 and it will give you 7 of the 50,000 bills and the rest in 10,000.

Recommendation on no/low fee ATM at ICN?
 

Anyone have a current recommendation for which ATM(s) at ICN have the lowest fees, or no extra fee, for withdrawing Won with a Plus or Cirrus bank (debit) card?

Honestly, all of the ATMS will have the same fees - barely any.

Also, some ATMs will read 20,000W "2 10,000 won" so you have to watch the zeros. For instance, if you want 200,0000, it'd be 20 10,000W. It can throw you off for a second. This definitely happens with the 50,000 notes. It will ask you how many you want. Because the translation is a bit weird, it is a bit confusing.

Thanks! Do you have a favourite ATM at ICN? One that is less confusing as described above?

They all have the English differently based on their ATM software. My bank, NH Nonghyup, doesn't actually have global ATMs. I think it's the only one.

KB, KEB and Shinhan are the best bets for Global ATMs. Citbank in the subway stations sometimes don't have global. Rest assured there are banks EVERYWHERE, though, so you'll be totally fine.

I paid a $USD3.75 fee when I used an ATM at the airport last month for a withdrawal of 120,000KRW (about $112). The transaction says "KEBCS" which I think is Korea Exchange Bank. I don't recall being advised of that charge up front and didn't notice it until I checked my bank statement. I'm reimbursed for all ATM fees by my home bank so no loss in my case.

IBK atms will do international cards just fine too.

Mechanics? ;)

No..State Farm Bank.

Nice. Mechanics does the same. ^

I wish I have read this before I withdrew 500,000W at the ATM at my first ATM transaction in Seoul... I think my wife wanted to ask "If I am happy to see her or there is a stack of won in my pocket." :p

BTW, Bank of America charges at $5 fee and then a ~3% fee for total amount withdrew.

ICN ATM Is there maximum withdrawal amount?
 

For the ATMs at ICN, do they have a maximum amount you can withdraw at one time. EG HND 7-11 ATM has limit of 100K Yen.

My Chase bank wasn't able to get about $200 worth of Korean won for me on time. They will get it only when I am gone and than deposit back to my account from their exchange rate. I will lose at least $30 on this.
I will have to use ATM in Seoul. Does the ATM exchange rate is same as bank or they give you less and ATM fee is how much? Do the ATMs accept Amex? I will take my Amex bluebird or Serve prepaid card with me. Thanks for any info

The ATMs will give you the same exchange rate as the bank, obviously. ATM fees vary, but for international cards I think it is 2,000-3,000W. As far as accepting AmEx, I'm honestly not sure. I've never noticed, but I've also never looked.

I have US credit card that has no forex fee I can use wherever the business accepts CC & don't charge me fee. The local stores , restaurants & public transportations accept credit card without fee and no minimum requirement? Should I bring little bit of cash ($)? ATMs at Incheon?

I paid $US3.75 to the bank that owns one of the ATMs at the Seoul airport last year on a $112.37 withdrawal. My home bank rebates those fees so no loss to me. I use an ATM card on the PLUS network. Pretty sure the actual exchange was at bank rate as I do keep a close eye on my international ATM and credit card transactions.

I believe Chase, like Bank of America, will charge you $5 flat fee + a 3% fee on your total withdrawn on ATM machine. So expect to pay about a $11 total fee on your $200 US worth of Korean Won.

I don't know if it is wise to use a credit card on an ATM. It would be considered as cash advance I believe. You will have to check your Amex card to see what kind of fee and interest rate they charges for cash advance.

For the record: Shinhan Bank's Global ATM located on the departure level (3rd floor) at ICN did not charge any fees for withdrawals with a foreign credit card (PLUS network). Maximum amount indicated was KRW 300,000.
ATMs at the arrivals level (ground level) showed a KRW 4,000 fee for withdrawals on the last confirmation screen of the transaction (which could still be cancelled at that point).

I want to confirm what geosch found. I have attached the photo of an ATM which I was able to get money fee-free. (I believe my card is in the Cirrus network). It is located in the end of the the J aisle. It is quite convenient as J is close to the escalator near the 1/F exit of immigration / custom.

(Be aware of an ATM operated by KEB on the same Departure Floor, it also want 4000 won in fees. Even offered to deduct my account in US$ with a very bad exchange rate.)

The ATMs are starts in Korean. But once you put your card in, you can choose "International". There you can choose many difference languages. There is also an ATM that seems to only offer to take money from credit card, I didn't understand it so I passed.

Sorry for bringing up an old thread again, but based on the above two posts, there are ATM's that don't charge any fees at the airport? (besides the fees charged by my side)

Is there a way to tell if the ATM's charge a fee before I use mastercard/cirrus for cash advance? Do they usually display the fees before you confirm the transaction? Or maybe is there a bank that doesn't charge ATM fees?

Wrong terminal!
 

Just wanted to share one major detail about this fee free ATM. We arrived terminal 2 and went to the third floor departures to discover the rows only go to H. We ended up just paying the ATM fee of 3,000 Won. It appears row J is only at terminal 1. We did not have the time or patience to head to terminal 1 so I cannot confirm whether or not the atm is still free.