🏡 Topics for Living in Korea – Sending Money Overseas (Remittance Guide)

Moving to Korea often means you’ll need to send money to family or pay bills overseas.

Whether it’s supporting loved ones back home or managing international tuition, understanding Korea’s remittance options is crucial. This guide covers methods, fees, required documents, and trustworthy links for smooth transactions in 2025.

🌐 Overview of Sending Money Overseas

Korean banks and fintech apps provide several ways to remit money internationally. Popular choices include:

Bank wire transfer (국제 송금) – via major banks like KEB Hana, Woori, KB Kookmin.
Mobile apps – KakaoBank, Toss, Wise (TransferWise).
International services – Western Union (available at CU/GS25 convenience stores).

🏦 Major Korean Banks for Remittance

KEB Hana Bank – Offers global remittance and multi‑currency accounts.
Woori Bank Global Easy One – English mobile remittance service.
KB Kookmin Bank – Simple remittance via internet banking in English.
Shinhan Bank – Supports global ATMs and overseas remittance options.

📱 Mobile & Online Transfer Services

Fintech apps provide fast and cheaper alternatives:

KakaoBank International Remittance – 24/7 mobile transfer with competitive fees.
Toss Global Remittance – Simple process with English UI support.
Wise (TransferWise) – Transparent fees and real‑time exchange rate tracking.

📝 Required Documents & Limits

ARC (Alien Registration Card)
Passport
Bank account (Korean or international) and recipient information (SWIFT code, account number)
Annual limit: Typically USD 50,000 (check with your bank for specific rules)

💱 Fees & Exchange Rates

Fees vary by bank and method:

Bank transfers: ₩5,000–₩20,000 depending on destination
Mobile apps: Lower fees (₩3,000–₩5,000) and better exchange rates
Wise: Real‑time mid‑market exchange rate + small fixed fee

🗣 Practice Dialogue

A: 해외로 돈 보내고 싶어요.
   Haewero don bonaego sipeoyo.
   I want to send money overseas.

B: 어느 나라로 보내세요?
   Eoneu nararo bonaeseyo?
   Which country are you sending it to?

A: 미국으로 보내고 싶어요.
   Migug-euro bonaego sipeoyo.
   I want to send it to the U.S.

🧩 Teacher’s Tips

Always compare fees and rates before choosing a service.
Use mobile apps for convenience but ensure they support your target country.
Keep receipts for tax or immigration purposes.

🌏 Did You Know?

Over 2 million foreign residents live in Korea, and remittances exceeded $10 billion in 2024, making it one of Asia’s top outbound remittance markets.

🤔 Say What?

송금 (Song-geum) – General term for remittance or money transfer. You’ll see this word in banks and apps.

✨ Extra Insight

If you frequently send money, consider opening a multi‑currency account (e.g., Hana Global) to lock favorable exchange rates and reduce fees.

📦 Final Thoughts

Sending money overseas from Korea doesn’t have to be complicated. With digital apps and competitive banking services, you can choose the method that fits your budget and schedule.

“Every post brings you closer to living comfortably in Korea — stay curious and keep exploring!”

🎓 italki Lessons

Want to practice financial vocabulary in Korean? Book a lesson with me on italki to learn useful phrases for bank visits and transfers.

💬 Stay Connected

📄 Save this post: Bookmark for future banking tasks.

📤 Share with friends: Help other expats manage their finances smoothly.

💬 Comment below: Which transfer method do you prefer in Korea?

I hope that while reading various posts on my blog, you’ll learn Korean and grow to love Korea. As a Korean, I sincerely wish for that. Please come back anytime to discover new expressions and cultural insights!