South Korea cashing out small payments is part and parcel of everyday human life. Money should be on hand in cash for most of those day-to-day expenses. In this case, taking large amounts of cash from ATMs or the bank is the only way forward. This is indeed a botheration as there is always the risk of losing such a large sum.
Transit cards are one of the most common ways to withdraw cash in South Korea. Then, the cardholder is not going to carry the loose bills and coins literally with him or her. The cardholder should also add the required money for several trips in advance to pay for the transit with a cash-like value. The easier way of withdrawing small amounts of cash on the Internet or in other stores and shops is also provided by the cards.
Conversion of small amounts, coins, and bills to cash for daily use
In South Korea, they always make essential changes in coins and notes for small money to cater to miscellaneous expenses in their routine. Hundreds of daily chores, including public means of transport, purchase of groceries, or even a cup of coffee, depend on revenues for living everyday life.
Transportation and parking can be paid for in cash
Most public transit options, like buses and subway trains, are cash only. Parking garages and lots are provided for an hourly fee in coins and bills. As a matter of fact, it is helpful to make it a practice to withdraw some money daily for daily expenses like transportation. It can often help to have the exact coin that was withdrawn from an ATM in order to break something like a small payment.
Withdraw money from your local convenience
ATMs are installed in all 7-11s, CU stores, and some other convenience chains so that customers can cash out small payments. Other than that, keeping ready cash on hand is convenient for making a purchase whenever a need arises at any time of the day. Most Koreans tend to go to the ATM first before they leave towards the grocer’s shops just around the marketplace.
Cashing out small payments for food and drinks
Some parents and employers provide children and employees with cash as part of a daily allowance or pocket money. The cash is used when required to buy lunch or to have coffee. It is convenient for covering day-to-day personal expenditures, such as travelling, snacks, and light meals, to withdraw a fixed amount from ATMs located all over the country.
Tip hairdressers and service workers in cash
Much like the provision of services such as hairdressing and food delivery, among others, a tip is expected for these services and most personal services. Cashing out small payments held in smaller denominations are to be kept handy to tip the local service providers for their products and services.
Get cash back on spending
To make matters even better, some merchants and food service providers offer the feature of cash back after a card transaction, where the cardholders can cash out small payments or meet other small cash requirements for further purchases or other incidental expenses.
Final Thoughts
소액결제 현금화 has become a necessity in South Korea. It is rather tedious to withdraw considerable amounts of money in one go, which is also a risky affair. Koreans have devised intelligent ways of drawing petty cash in small quantities. Transportation cards that could be loaded with money and used for making payments, thousands of ATM machines, and even convenience stores make it very, very easy for residents and travellers to keep a bit of cash for daily petty expenses. Small coins, banknotes, and stored value withdrawals help make easy payments, save time, and give independence in managing routine costs.
