💸 Send Money Overseas from Korea — Banks vs Apps, Fees & What to Prepare (2025)
💸 Send Money Overseas from Korea — Banks vs Apps, Fees & What to Prepare (2025)
.jpg "Korea → Overseas Remittance — banks, apps, fees, documents")
Sending money to family? Paying tuition or rent overseas?
This guide compares banks vs mobile apps,
explains what to prepare, and gives you
practical Korean phrases so you can handle remittances confidently in 2025.
🎯 Learning Goal
- Compare bank wires vs mobile apps for overseas remittance from Korea
- Prepare the right documents (ARC, passport, SWIFT, purpose of remittance)
- Understand basic ideas of fees and exchange rates
- Use essential Korean phrases at the bank or inside apps
- Avoid common mistakes that cause delays or extra costs
📚 Table of Contents
Tap to open / close
- 1. Overview: Methods at a Glance
- 2. Bank Wires (KEB Hana, KB, Woori, Shinhan)
- 3. Mobile & Online Apps (KakaoBank, Toss, Wise)
- 4. Required Documents & Limits
- 5. Fees & Exchange Rates
- 6. Key Korean Phrases + Practice Dialogue
- 7. Common Mistakes (Money + Korean)
- 8. FAQ
- 9. Practice with a Teacher
- 10. Stay Connected
1. Overview — Methods at a Glance
KEB Hana, Woori, KB Kookmin, Shinhan — good for larger amounts and when you want to talk to a person.
KakaoBank, Toss, Wise — fast and usually cheaper for small/medium amounts.
Western Union (often via CU/GS25) — useful if the receiver needs cash pickup.
Lowest total cost → Apps/Wise
Largest amount → Banks
Cash pickup → Western Union
2. Bank Wires — Major Korean Banks
For larger transfers, or when your school/landlord/company insists on “bank wire only,” going through a major bank is still common.
- KEB Hana — strong global network, many English-speaking staff in expat areas.
- Woori Bank — online remittance and English pages for some corridors.
- KB Kookmin — internet banking + branches, often used for salary accounts.
- Shinhan — wide branch network, some remittance-friendly ATMs.
Exact fees, limits, and exchange rates differ by bank, country, and purpose of remittance. Always check the latest info before sending.
3. Mobile & Online Apps — Fast & Transparent
Many foreign residents in Korea now prefer apps for everyday remittances because the fee and exchange rate are shown clearly in the app.
- KakaoBank — in-app international remittance, convenient if you already use KakaoBank.
- Toss — very simple UI; check supported countries and daily/annual caps.
- Wise — transparent fee and near mid-market rate; good for comparing “total cost.”
4. Required Documents & Limits — What to Prepare
- ID: ARC (Alien Registration Card) and sometimes your passport
- Your Korean bank info: bank name, account number, app login if using mobile remittance
- Receiver’s details:
- Full legal name (matching the bank account)
- Bank name, branch (if needed), account number
- SWIFT/BIC or IBAN (for bank wires)
- Receiver’s address (sometimes required)
- Purpose of remittance:
Family support, tuition, rent, etc. Some banks/apps may ask for evidence (invoice, tuition bill, contract, etc.). - Limits:
Providers have their own daily / monthly / yearly caps. A commonly mentioned yearly personal threshold is around USD 50,000 before tighter checks, but it depends on the bank/app, your visa type, and the purpose. Always check current policy.
5. Fees & Exchange Rates — How to Compare
Transfer fee + possible intermediary bank fees, plus a margin on the exchange rate.
Usually lower fixed fee; exchange rate often close to the mid-market rate.
Convenient for the receiver but fees and rate margins can be higher.
Exchange rates move every day. If the amount is large, it can help to compare rates across a few days.
Always compare the total cost: fee + (exchange rate difference × amount), not just the “fee” field.
6. Key Korean Phrases + Practice Dialogue
Useful phrases at the bank
-
해외로 돈 보내고 싶어요.
Haewero don bonaego sipeoyo.
I want to send money overseas. -
미국/필리핀/유럽으로 보내고 싶어요.
Miguk / Pillipin / Yureop-euro bonaego sipeoyo.
I want to send money to the U.S. / Philippines / Europe. -
수수료랑 환율이 어떻게 되나요?
Susuryorang hwan-yuri eotteoke doenayo?
What are the fees and exchange rate? -
가족 지원(학비/월세) 보내는 거예요.
Gajok jiweon (hakbi/wolse) bonaeneun geo-yeyo.
It’s for family support (tuition / monthly rent).
Practice dialogue (bank counter)
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. 수수료랑 환율이 어떻게 되나요?
Migug-euro bonaego sipeoyo. Susuryorang hwan-yuri eotteoke doenayo?
To the U.S. What are the fees and exchange rate?
B: 오늘 환율은 1달러에 ○○원이고, 수수료는 ○○원이에요.
Oneul hwan-yureun han-dalloe ○○-won-igo, susuryoneun ○○-won-ieyo.
Today’s rate is ○○ won per 1 dollar, and the fee is ○○ won.
7. Common Mistakes (Money & Korean Expressions)
1) Looking only at the “fee” and ignoring the rate
Two services may show a similar fee, but one has a much worse exchange rate. Always check how much your receiver actually gets in their currency.
2) Using a nickname instead of the legal name
The receiver’s name must match the bank account exactly. If the name is wrong, your transfer can be delayed or returned.
3) Confusing 보내다 vs 입금하다 in Korean
- 돈을 보내다 = to send money (remit, transfer)
- 돈을 입금하다 = to deposit money (into an account, often same bank)
At the bank counter, say 해외로 돈 보내고 싶어요, not “해외로 돈 입금하고 싶어요”.
4) Forgetting to mention the purpose
Many banks in Korea must record why you are sending money.
Prepare a simple sentence like:
가족 생활비예요. / 학비 보내는 거예요. / 월세 보내는 거예요.
8. FAQ — Overseas Remittance from Korea
Q1. Do I need SWIFT/BIC?
For most bank wires, yes. Apps sometimes use IBAN or local bank codes instead. 은행 송금은 보통 SWIFT/BIC 코드가 필요하고, 앱은 IBAN/은행코드를 요구할 수 있어요.
Q2. How long does it take?
Apps can be anywhere from a few minutes to 1 day (depending on country and bank). Bank wires commonly take 1–3 business days. 앱은 보통 몇 분~1일, 은행은 1~3영업일 정도 걸린다고 생각하면 편해요.
Q3. Can I send money without an ARC?
Many providers in Korea require an ARC for identity checks (KYC). 다수의 은행·앱은 신원확인을 위해 외국인등록증(ARC)을 요구하니, 먼저 정책을 확인하는 것이 좋습니다.
⚖️ Disclaimer: This guide is for general information only. Fees, limits, supported countries, and FX rules change often. Always confirm details with your bank or app before sending money.
9. Practice Your Real Remittance Situation with a Teacher
Want to rehearse your exact remittance scenario before you go to the bank or use the app? We can practice questions like fees, rates, limits, and documents in natural Korean.
👉 Book a 1:1 lesson with me on italki and bring a screenshot of your bank/app. We’ll build custom phrases you can actually use.
Keep learning about life in Korea:
💬 Stay connected for new updates:
📄 Save this guide: Bookmark it and check again before your next transfer.
📤 Share with a friend: Help other foreign residents in Korea save on fees and avoid mistakes.
💬 Leave a comment: Which method do you use (bank or app), and which country are you sending to?
Tags: send money from Korea, overseas remittance guide, Korean bank transfer, KakaoBank Toss Wise, 생활한국어, 한국 송금 방법, life in Korea, aprender coreano práctico, dinero al extranjero
