Best place to exchange for Korean Won?
Hi, I'm going to South Korea in less than two weeks and I need to exchange for some Korean currency. Which place will give me the best rate? Thanks.
Dec 1st, 2014 9:17 pm
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Dec 2nd, 2014 12:53 pm
Dec 2nd, 2014 12:54 pm
Dec 2nd, 2014 4:15 pm
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Dec 2nd, 2014 6:09 pm
Are you sure that interest won't be charged if you use your method of obtaining a cash advance although you overpaid?shannn wrote: ↑When I was in Seoul, there were plenty of ATM's
Your best bet would be to inform your bank and withdraw from a machine there.
Or...get a Chase mastercard, overpay, and then do a cash advance for 1% if above $500CAD withdrawn.
I did method 2 and it saved me a bunch of money.
A lot of people are suggesting to do an exchange from CAD --> USD --> Korean Won, You'd be losing a lot of forex fees that way.
Dec 2nd, 2014 6:19 pm
Nope, huge thread about the amazon.ca visa with no forex fees in the personal finance section. I've done this on multiple trips and my forex fee has always just been 1% when withdrawing with my method.noproblem wrote: ↑Are you sure that interest won't be charged if you use your method of obtaining a cash advance although you overpaid?
Converting to USD worked out for me because I'm an employee at a bank and get a discounted rate. And Korea prefers USD over CAD, meaning the rate is better than CAD.
Also, timing could be a factor as well. After we exchanged, the KRW depreciated like crazy.
Dec 2nd, 2014 6:28 pm
Dec 5th, 2014 8:30 pm
Dec 5th, 2014 11:35 pm
You just got ripped off by $17 by not going the chase visa method...it adds upAznsilvrboy wrote: ↑I ended up going to KEB at Yonge/Sheppard for the exchange. Paid $429.xx for 400,000 won.
Dec 6th, 2014 12:30 am
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Jan 22nd, 2016 12:23 pm
Jan 22nd, 2016 2:18 pm
It is never ideal to exchange twice, you're going to be bending over twice. What I said (one year ago) was "if you had those 5 main currencies lying around"FalseCreek wrote: ↑Does this still apply in 2016? Just wondering because the Canadian Dollar is..you know. Would it still be ideal to exchange my CAD for USD and then exchange again in Korea?
Thanks
Jan 22nd, 2016 4:08 pm
Nov 23rd, 2016 10:25 am
Nov 23rd, 2016 12:14 pm
shannn wrote: ↑ Nope, huge thread about the amazon.ca visa with no forex fees in the personal finance section. I've done this on multiple trips and my forex fee has always just been 1% when withdrawing with my method.
Must have saved me hundreds of dollars with all my travels for the past couple of years.
My mother works at a bank and gets a preferential forex rate, but, the card still ends up being better (1.9% for her vs. the 1% for the card)
Nov 23rd, 2016 7:37 pm
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