Search results

@tyler112 Single, living in S Korea for now, arrived in Nov. 2021, lived the entire year in 2022 except for 2 weeks visiting US. Long-term visa in SK that will expire in Nov. 2023 (trying to get that renewed).

@nilo74 Sorry, I'm living in South Korea now and have a long-term visa. Semi-retired with no earned income from South Korea nor US. All unearned income are from US-based brokerage / bank accounts where all the money is.

US expatriate living abroad wants to know up to how much is tax-free: will have interest income, dividend income and some capital gains from my taxable brokerage accounts in 2023. If you have no earned income, are such income tax-free up to your standard deduction ($12,950 for single in 2022)...

@ola2019 Thanks, They look similar to Wise. I'll look at them also.

@shannw7 Wise does seem to allow sending to Korean Won. I just simulated a transaction and their charges seem much lower and they use the real time FX rate. Just 1% charge when Banks take 4-5% off your transaction by using a lower FX rate.

@stephcooper46 Thanks, I'm signing up for that right now to see if that will work. Yeah, they work with real time exchange rate, not the BS rate that gives banks fat profits. They're safe and trustworthy, right?

Some time ago I posted a query re ways of minimizing FX loss when sending funds from US-based banks (Bank of America) to foreign banks (South Korea in my case). It seems there is no way to get around the below-market FX rate which really amounts to a fee. The USD-KRW rate started going up...

What I mean by the "adverse exchange rate" is the lower (or higher) exchange rate that is really a fee for the transaction, even though the bank claims not to have charged any service fee. I am a US expatriate in South Korea who last transferred funds from Bank of America to a local bank (Hana...