Money

February 3, 2007 at 4:38 pm 2 comments

I thought you might be interested in what my money looks like. Here’s a man won note compared with a dollar. They just released these bills within the past few days. They are a bit smaller than the older ones, and the color is a bit more vivid. I’m sure there is some improved anti-counterfeiting techonlogy as well, but otherwise, they are pretty much the same. Man won, or 만원 is 10, 000 won. It’s equivalent to around $10 or $11. It is the highest denomination you can get here. It is a bit frustrating, because it’s the only cash ATMs dispense. Luckily, for large amounts of money, you can have the ATM print you a check that can be spent just like cash. They come in increments of 100,000 won (~$100). ATMs are actually quite useful. They are for more than just making withdrawls and deposits. You can wire someone ELSE money. Typcally this is done to pay certain bills. Almost all of your bills can be paid through the ATM. While I’m on the subject of banking, it’s worth it to mention the “bank book.” These nifty little thigns are about the size of a passport, but contain a running record of your bank account balance and transactions. When you do some business at the ATM, you can insert your bank book, and it will automatically update it with whatever transactions aren’t aready in it. It’s pretty cool. Consequently, I don’t get any paper mailings or statements. I can carry around a perpetual statement with me everywhere I go.

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Entry filed under: Culture, Living.

A new start… Age

2 Comments Add your own

  • 1. J  |  February 6, 2007 at 1:41 am

    Wow. I would come to Korea just to see those ATM’s. Way cool.

  • 2. cj  |  February 6, 2007 at 4:08 pm

    hey austin… I love your blog.. esp. this new section. I might steal the idea and put it on mine. monkey see.. monkey do!

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