This post is in response to reader tp’s request/comment.  I had considered writing about this a few weeks ago but then found myself in “can’t be bothered” mode.  I started writing the following in the comments section, but then thought “what the hell?” and decided to put it in a post.  Cut and paste is a glorious invention.

Here goes:

Funny you should mention international credit debit cards.  I, in fact, DID receive one from KB early last year.  Because I am overly cautious (I reek caution), on three subsequent visits to the bank last year I took the card out of my wallet, showed it to the teller, and confirmed that it would indeed work at overseas ATMs.  I received three different answers:

“Yes”, “Sure”, and “Of course”.

So last January in Vegas I decided to check it out.  Result?  No way, Jose.  I contacted KB and was told, “Sorry, foreigners can’t use the international ATM card overseas.”  Huh?  You’re telling me I can’t use an international debit card overseas?  I can’t take my own money out of my own bank account?  That is whacked!  (Apologies for using the word “whacked”.  This is what happens when it’s 2 in the morning and you’re suffering from insomnia.) 

Fortunately, I am overly cautious (caution is my middle name) and planned for such an eventuality.  Oh yeah, that royal flush on the video poker machine didn’t hurt either.  A cool $1000 baby…YEAH!  I was able to make it out of Vegas without having to whore myself out to strangers (like I do here in Korea). ;-)

Back in Korea, I decided to look into the issue a little further.  As luck would have it, there was a post at The Marmot’s Hole here (do a search, lazy ass*) where, if you filter through the *sigh* petty bickering in the comments section, you’ll find some useful information.  In a nutshell, it sounds as if Korea Exchange Bank is the place to go if you want to get that international debit card (the one that actually works).

On a related note, I recently inquired at my local KB (yes, that KB) into the possibility of a foreigner getting a loan.  Turns out it’s actually possible.  All I need is a Korean willing to cosign the loan.  Check.  In fact, I can even get one of those accounts set up where I can withdraw money up to a certain limit (10 million won) anytime I wish.  I’m not sure what that’s called.  Perpetual loan?  Convenient loan?  Dangerous and stupid loan?

Then again, the guy at the bank (who bears no personal repsonsibility for the international debit card fiasco, btw) said that I could qualify for such a loan because…

a) I’m a regular customer at the bank.
b) I work for a reputable school.
c) I’ve lived in Korea for a long time.
d) I earn a decent salary.

and…

e) I’m incredibly cool.

So this information may not apply to everyone.  Particularly “e)”.

*The “lazy ass” comment is directed toward “tp”, not the other six readers of this blog.

This marks the end of the Iceberg Financial Hour.  Now on to more important matters.

Yes, tp, the bear on the trampoline video made for high entertainment, but could you imagine a lion, water buffalo, crocodile AND a bear all jumping on the same trampoline?  THAT would be stupendous!