'Fantastic, please close my account': Bankers inform travelling worker he hit his withdrawal limit, worker calls their bluff

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    Building - www ESTOS ‒‒‒‒‒‒‒‒‒ 20160 www RES
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    Font - Bank wants to play stupid games? Then lets play stupid games :) M OC So I live in S. Korea but I work for a US Company in S. Korea and because I work for an American company and I'm one of the few employees of my company that is American in S. Korea my company doesn't issue me this letter that basically says I'm employed in S. Korea.
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    Font - So this means I have restrictions on my Korean bank account. I can only withdraw 250,000 won (About $216 a day) from an ATM and if I go in person to a teller I can only withdraw 1 million won (about $870) a day. This normally doesn't present a problem for me. I also can't have a debit/credit card I get a "bank book" which is kinda like an electronic check book that's a physical thing you carry (FYI I use my American bank for most of my day to day spending)
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    Font - But...It did once. I signed a lease for a new apartment and the deposit was 10 million won (about $8,700, yes this is normal for Korea) so I transferred the money from my American bank to my Korean bank and I went to the bank in person to transfer the money to my landlord.
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    Font - I get there and the teller tells me I can only transfer 1 million per day. My first idea was to ask my landlord if she'd be cool with me transferring her 1 million won a day for 10 days, she doesn't like that idea.
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    Font - So I'm sitting there arguing and the bank manager comes out, he's a nice enough man and speaks good english. Basically he says because of my type of my account there is no way I can transfer more then 1 million a day. So I need this money and I'm thinking and the light bulb goes off in my head.
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    Font - Me: "If I close my account do I get my money?" Manager: "Yes, we would give you the cash" Me: "And if I close my account can I open a new one?" Manager: "Of course"
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    Font - Me: "Is there a waiting period after closing my account to open a new one" Manager: "No" Me: "Fantastic, please close my account" Manager: "Sure, I will need your bank book and we will destroy it"
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    Font - Hands them my bank book and they destroy it Signs some papers to close the account Bank manager closes the account and gives me all the money in the account in an envelope Manager: "Anything else I can help you with today?"
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    Font - I smile, pull out my passport Me: Yes I'd like to open a new bank account Bank manager looks at me, and it dawns on him what I just did, he laughs, shakes his head and goes "Sure not a problem"
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    Font - I opened a new account, deposited 10,000 won and left with my deposit in my pocket I believe this qualifies for malicious compliance because I followed the banks rules and it resulted in them having do more work.
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    Font - imakesawdust Why hasn't your company issued a letter saying you work in SK? Seems like they're not doing you any favors. 3.5k Reply Share luther_williams OP. I'm one of the few people working for them in S. Korea and 99% of the time its not a problem.
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    Font - [deleted] That's awesome! Glad they went along with it too! 1.7k Reply Share luther_williams OP. Yup, I he got a laugh out of it too. I wonder if he gets compensated for opening new accounts, if so hey he got a new account that day :)
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    Font - nymalous I feel for you and for them as well. Banking regulations can be quite odious and tedious and other things that end in - ious. The fines and penalties for violating those regulations can be very severe. My brother worked in a bank for a while, and he got so fed up with the red tape and sheer lunacy of it all he had to quit (his health was suffering from it).
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    Font - I'm glad the bank manager didn't give you a hard time about your work around. He probably wanted to help you but his hands were tied (either by law or by corporate). Anyway, quick thinking on your part.
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    Font - luther_williams OP. It legit seemed like he had no ability to allow me to do what I wanted. It also seemed like once I figured the work around he was like "I'm fine with this" I got zero push back from him and he was nice and pleasant to work with.

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