Using USD Cash and Exchange in South Korea: real experience from chats

Russian bank cards like RosSelkhozbank might work, but it's advisable to confirm conditions beforehand. For currency exchange, particularly for older US dollar bills, it's recommended to use exchange offices in city centers like Myeongdong, as rates are typically better than at the airport. Exchange offices may offer slightly less favorable rates for older USD bills compared to newer ones, but it remains a viable option.

Russian bank cards, especially UnionPay (even from banks like Rosselkhozbank - RSB), have limited acceptance, primarily for ATM withdrawals. Larger retailers like Lotte may decline standard Visa Gold but accept Visa Platinum. Smaller shops, cafes, and laundromats might accept the same cards without issue. Foreign cards typically have daily withdrawal limits (around 700,000 KRW) and transaction fees. For significant purchases, plan to split payments across days and locate compatible ATMs. Carrying local currency (KRW) is advisable, especially for markets and street food. For transportation, the T-money card is essential and can be topped up via the Wowpass app or convenience stores (CU, GS25, 7/11). The Wowpass tourist card is widely accepted but has reportedly failed in taxis on Jeju Island, making cash a safer bet there.

It's advisable to carry cash (USD/EUR) or obtain a foreign-issued card. UnionPay from the Asia-Pacific bank is mentioned as working better with AliPay. Kazakh cards like Kaspi are reported to be widely accepted. ATB UnionPay is also suggested for cash withdrawal and potential use in Japan and EU. Cash is generally recommended as a backup, with US dollars being a common choice.

Old US dollar bills might be accepted, especially if exchanged through services like Wowpass which offers a decent exchange rate. For withdrawing Korean Won, consider using banks like Woori or KB-bank. Cards like RSB UnionPay with a Yuan account may also be usable for withdrawals. Money can be exchanged at various locations, including dedicated exchange offices in areas like Myeongdong.

While some users report successful transactions in various stores (e.g., Olive Young, Daiso, clothing stores), many experience difficulties or outright rejections. Cards are generally more reliable for ATM cash withdrawals. The success rate may vary depending on the specific bank and merchant. It is advisable to have alternative payment methods, such as USD cash for exchange or a local Korean card.

Their functionality is primarily restricted to specific ATMs for cash withdrawals. Point-of-sale transactions are generally unreliable. Travelers should rely on alternative payment methods like international Visa or Mastercard, or carry sufficient South Korean Won (KRW) for transactions.

Major banks like Woori generally support international cards. It is strictly recommended to carry physical cash at the border, calculating approximately $100 USD per day of stay, even if holding a foreign debit/credit card.

In South Korea, UnionPay acceptance is limited, with ATB UnionPay being useful for cash withdrawals. It's recommended to have local currency or alternative payment methods.

Cash is essential. ATMs at Hana Bank and Shinhan Bank are known to support withdrawals, but users report transaction fees (e.g., ~5,700 KRW for a 200,000 KRW withdrawal).

Travelers should be cautious of potential scams offering financial services. It is advisable to arrange for cash or alternative payment methods in advance.