Payments are often made through bank transfers in Korea. There is no chequing system here, so the payment options are: credit card, check card (debit card) cash (in person) or bank transfer. Bank Transfers can be made via Internet, ATM or in person, through a teller.
ATM Bank Transfers:
If you have a Korean bank account, you can transfer money from your account to someone else’s. You can use any ATM in Korea to transfer funds;, it does not have to be your own bank.
How to proceed:
1. Go to any bank’s ATM and insert your card.
2. Click on English.
3. Click on Transfer.
4. You will be asked to select the reciever’s bank.
5. You will be asked to input the receiver’s account number (have it ready since the time for transactions on ATM’s is limited). You’ll first input the receiving bank and then the account number).
6. You will then be asked to input the amount you want to transfer.
7. Input your PIN
8. After you have inputted your PIN, you will see on the screen the name of the recipient, the account number, and the amount you are transfering. If the information is correct, just confirm the transaction and you’re done.