Ever since we decided to move forward with this Korea thing, I’ve been fantasizing about a future of full-time employment and the money that comes along with it. These fantasies usually include hi-tech Korean gadgetry and unhealthy amounts of exotic liquors, but reality has a way of encroaching on my utopian visions.
To wit: I have debts to finish paying and would like to bolster my savings account. If I can accomplish both, there might still be something left over for a fancy new smartphone and a tall jar of sake infused with snake venom. My dilemma stems from the fact that I am completely ignorant of banking policies when it comes to international currencies and money transfers.
If you’ve ever spent some time living outside the US, how did you set up your banking? Were there fees for foreign-currency calculation or international transfers? Were there tricks for getting around these fees? How did you pay outstanding bills back in the US? Are my questions even relevant in the Internet age?