Compare money transfers from South Korea to the United States

Best services to transfer money from South Korea to the USA

The US Dollar is a highly exchanged currency in the world, and it takes more than 80% of the world's money exchange and transfer. When looking for how to send money from South Korea to the USA, there are lots of options that you can use. Depending on the service or transfer option you choose, it may either be costly or cheap. Continue reading to find out the easiest way to wire money from South Korea to the USA

How to Send Money

Usually, anyone trying to send money will always look for the cheapest way to send money from South Korea to the USA. But then, there are different methods with varying costs. This is why we usually recommend sending money online through digital platforms. Below are the general steps to send money to the USA.

1. Log into the money transfer platform.
2. Put in the transaction details such as the amount so you can get the current exchange rate.
3. Submit the details of the receiver in the United States.
4. Select a payment method and make the payment
5. Get your transaction receipt or confirmation.

Which Service to Use?

Digital Platforms

Nowadays, it takes only a few computer clicks to send money to any part of the world, thanks to all the digital transfer platforms available. With these online services, you can transfer to any bank account, and the beneficiary will receive the money within minutes. Here are some of them below;

• WorldRemit
• Transferwise
• Moneygram or Western Union
• Azimo

Banks

While using the banks may be convenient, it usually costs a lot. The exchange rates with banks are never fair, and the sender may end up paying some hidden charges that will not be disclosed when sending the funds. Some of the banks that receive money in the USA from South Korea include Citigroup, Bank of America, Capital One, Wells Fargo, JP Morgan Chase, amongst others. When sending through e-transfer, you have multiple payment options to use, such as credit or debit card or through your bank account. The payment method will determine how quickly the money will be delivered.

What is the cost?

As mentioned earlier, the cost of international money transfer varies, but the best service to use is one with no hidden charges and offers a fair exchange rate. Worldremit and Transferwise offer current exchange rates, and their transaction fees are usually a certain percentage of the total amount being sent. Banks usually cost more, and their transaction fees are never fixed, coupled with the fact that it may also take some days for the recipient to receive the money.

Our Advantages

1. Our money transfer platforms are highly secure.
2. No hidden charges – the sender is aware of all charges upfront.
3. Fast transfer processing – usually less than 24 hours to deposit funds in the recipient's bank account.
4. Fair exchange rates.