Foreign Currency Check & Traveler’s

Check

1. Foreign Currency Check Transaction

1) Outline of Foreign Currency Check Purchase2) Purchase & Collection Flow Chart of Foreign Currency Check3) Bills purchased before Collection of Foreign Currency Check (B/P)4) Distinction between Cashier’s Check & Personal Check

2. Traveler’s Check Transaction

1) Woori Bank Issued VISA T/C in USD2) Woori Bank Issued VISA T/C in EU3) Operation Flow Chart4) Payment of Woori Bank Issued T/C5) Accident Report Reception & Refund

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Foreign Currency Check & Traveler’s

Check1.Foreign Currency Check Transaction1) Outline of Foreign Currency Check Purchase

Foreign CurrencyCheck Purchase

It is for foreign exchange bank to purchase foreign currency check from client and pay check amount.

Bills purchased before Payment (B/P)

Bills purchased before Collection (B/C)

Check amount is paid before completion of foreign currency check collection

Check amount is paid after completion of foreign currency check collection

Outward Collection

2) Purchase & Collection Flow Chart of Foreign Currency Check

B. Bills purchased before Collection

◈ Applied Exchange Rate : Subtraction of telegraphic buying rate or exchange commission of the currency

A. Bills purchased before payment

◈ Applied Exchange Rate: Telegraphic Buying Rate

대금결제

대금결제

Collection Requesting Bank

Issuing Bank

Client for Buying (acceptor)

Request for Collection

Check Sending

Amount Settlement

Amount Payment

Buying Bank Issuing Bank

Client for Buying (acceptor)

Request for buying

Amount Payment

Check Sending

Amount Settlement

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3) Bills purchased before collection (B/P)A. Range of bills purchased before collection (Detailed regulation of domestic foreign exchange transaction handling Article 6.)

- Traveler’s check presented to window of Woori Bank with direct signature of the person

- Foreign currency check issued by exchange transaction bank of Woori Bank

- Foreign currency check presented by domestic bank

- Traveler’s check presented currency exchanger

- Check issued with government, public organization, foreign affairs institution and relevant institution as acceptor

- Foreign currency check received approval of person with discretionary powers for loan

B. Inspection in purchase of foreign currency check

4) Distinction between cashier’s check and personal check

◈ Skills to distinct between cashier’s check and personal check

-Issuer : Although check issued by non-exchange transaction bank is issued by bank, it is processed as personal check

-Issuer A/C except ABA No. of MICR factor

-Confirmation on acceptor and grasping the whereabouts and address by identification of client for buying - Lapse in Period for Presentation → Based on time of arrival to place of payment - Confirmation on Post Dated Check - Bank Issued Check : Accordance of signature of issuer with signature book placed in our Bank - Endorsement on back of check : Endorsement of acceptor - Confirmation on currency indication : In case there is no separate currency indication on check, it will be in currency in place of payment (Caution for CAD) - Special Statement on Check    (Ex : Valid within 90days, Negotiable only in the U.S. and possessions, etc) - Omission of prerequisite on check - Checks in accident - Other appropriate preservation of bond

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◈ Skills to distinct between Cashier’s Check and Personal Check

◈ Skills to distinct Cashier’s Check and Personal Check

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2. Traveler’s Check Transaction

Traveler’s Check)Check issued and sold similar to cashier’s check to avoid the risk such as loss, victim of robbery, etc for overseas travelers to carry cash

Use as Cash

Refund in case of loss(Certain

Condition)

No Expiration Date

Certain condition refers to the loss of check in the state when signature is on main signature but not in counter signature

1) Woori Bank issued VISA T/C in USD

- Issuance of T/C in USD indication from 1983 - Commission sales by other bank

◎ Sample of VISA T/C

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① Column for Issuing & Selling Institution : Write name of T/C issuing or selling institution　 - Logo of the bank is printed and sold for the T/C for commission sale② Issuing institution CODE & serial no. indication　 - Woori Bank T/C certificate type code 　　　 USD 20 : 132 (Previous form is 102,112,122,142)　　 　 USD 50 : 135 (Previous form is 105,115,125,145) 　　　 USD100: 197 (Previous form is 107,117,127,137,147,157,167,177,187,207,217)　　 　 USD 500 : 128 (Previous form is 108,118,138) 　　　 USD 1,000 : 149 (Previous form is 109,119,129,139,159) - Issuing institution code :3250　　 → It is the unique code for each financial institution issuing the VISA T/C and code of Woori Bank - Serial No. : Serial No. of T/C in 6 digits from "000001“ to "999999" ③ Payment Guarantee by issuing institution to pay T/C purchaser or the designated person according to the condition prescribed on the back.④ Signature : Column for signature of T/C purchaser at point of purchase⑤ VISA T/C MARK⑥ Payment and issuing institution of T/C⑦ What is counter signature? - Column for signature to acceptor at point of use by T/C purchaser Acceptor confirms the subject comparing to signature of ④

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2) Woori Bank issued VISA T/C in EU

- Issuance of VISA T/C in EU from 2001. 10. 31 - Currency : EUR - Settlement Bank : Paris Branch, Woori Bank - Issuance Certificate Type : EUR500, EUR200, EUR100, EUR50 - Commission Sales by Other Bank

3) Operation Flow Chart

Operating Department of

Financial Institution

Domestic Branch

ON-LINE

USD: BONY (Payment Bank)EU: Paris Branch (Payment

Bank)

Transaction Bank

⑧ T/C Bill Confirmation

Notification in Next Term

① Request for Purchase(T/C Bill Payment)

⑧ T/C Bill Next-Term Notification

⑥ T/C Presentation

⑦ T/C Bill Payment

Traveling Client

②T/C Purchase

Department, Hotel, Foreign Exchanger,

etc in Foreign Countries

③Commodities, Service

③ T/C Use

④T/C Presentation (deposit)

⑤ T/C Bill Payment

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4) Payment of our bank issuing T/C

Debit Account

KEB SEOUL A/C Next Term

Actual Check

Each branch keeps as substitute slip

5) Reception and refund of accident report

A. Reception of accident report

　　 - Registration of accident check in computer

　　 - Draw up “Loss, Stolen Report for T/C” and Notify via FAX to Operating Department of Financial Institution

B. Document Requested for Application of Refund

　　 1) Application for T/C Refund　　 2) Refund Guarantee (Select one of FormⅠ,Ⅱ,Ⅲ according to the circumstances of accident)　　 　 - FormⅠ : General situation　　 　 - FormⅡ : Loss with signature on both sides of check 　　 　 - FormⅢ : Loss with no signature on both sides of check 　 3) Guarantee (Select one of FormⅠ,Ⅱ,Ⅲ according to the circumstances of accident)　　 　 - FormⅠ : General situation　　 　 - FormⅡ : Loss with signature on both sides of check　　 　 - FormⅢ : Loss with no signature on both sides of check

　　 4) P/A for Client (Exemption in case of loss)　　 5) Copy of Passport or Other Identification

C. Refund

　 Request for Refund=> Review on Refund=> Refund 　　

- Immediate Refund System

　 * It is the system for immediate refund within USD 2,000 through VISA GRS or overseas

branch when certain conditions are fulfilled for the convenience of one who lost T/C.