Compare money transfers to South Korea

The Best Services To Transfer Money To South Korea

The top three options for remitting money to South Korea include using the bank, going through online money transfer providers, or opting for services that offer in-person cash pick-up. Some options are cheaper than others, some get your money across really fast, some others are very convenient, while some offer a good combination of everything. Your preferred method should be based on factors like cost, reliability, accessibility, and transparency. Read on to learn more.

How to easily process a money transfer to South Korea?

1. Search for remittance services.
2. Set up free account with any online transfer service of your choice. You can begin the transfer to South Korea once your account is verified.
3. Complete the form you receive with the required transfer information.
4. Keep your receipt for both tracking the transaction and collecting cash.

What are the different ways of transferring money to South Korea?

• Bank Transfers. When sending money through the bank, consider using a Korean bank in your country that is devoted to the needs of Koreans living abroad as they may offer better services. However, bank-bank transfers can be costly even when you send large sums. It may also be much slower compared to other methods. Furthermore, the efficiency of a bank transfer service to Korea is determined by how extensive its network of service centers is. Generally, when doing a small transfer or if speed is important, banks are not the best option. You’ll be better off exploring other options.
• Cash Collection Companies. Another option to consider for remitting funds to South Korea is money transfer operators with agent outlets that provide international cash payment services. And they can be the most suitable option, especially when an inter-bank transfer is unfavorable. Some of these financial service brands have support for cash transfers over the internet. Simply identify a provider that has a cash pick-up center in the recipient’s desired location. You can easily find their vendors in various traditional banks, independent shops, and self-service centers. Using this cash payment channel will incur some fees plus extra margin on the prevailing market exchange rate.
• E Funds Transfer Platforms. Electronic funds transfer platforms are very popular for many people. Online services may be the most cost-effective choice for money transfer. Their charges are often low. They offer attractive conversion rate and the receiver's account can be credited almost immediately. Paying for transfers is easier when you opt for paying through debit or credit cards. These online services allow you the flexibility of sending cash straight to a traditional bank account or collecting cash in various locations in Korea. You are not required to open a bank account in the host pay through this service.

Which service should you use to send money to South Korea?

Pick a service that meet your needs in terms of the following factors:

• Exchange rate margins.
• Service charge & fees.
• Network of banks.
• Payment & withdrawal options.
• Transfer speed
• Limit on transfers

How much does it cost to send money to South Korea?

When transferring 2000 dollars to South Korea, the amount received is 2884806.20 KRW in InstaReM. You can also receive a money transfer from Wise for the amount 2864191.00 KRW. And with MoneyGram 2863434.00 KRW. There is still an option Remitly , Xe.

3625913.00 KRW - will be received by transferring 2000 pounds to South Korea via InstaReM. Or it is possible to recieve a transfer for 3608686.00 KRW with Wise. With Remitly, the recipient receives the amount of 3606940.00 KRW.

Why you should Use a Financial Service Provider From Our Site?

We’ve researched and carefully selected the best financial service providers. Use our tool to:

• Compare conversion rates service charges and so much more in real-time to know exactly how much the receiver will get.
• Find discounts and other bonuses to transfer money more cheaply.