How to send money to South Korea
Discover how to send money to South Korea at the most competitive cost with these 4 steps
1. See if the KRW exchange rate is favorable
Although the evolution of the exchange rate is uncertain, it can help you save money to follow it in order to optimize how many you will receive against your sending currency. We recommend our users to use our smart alerts to follow the KRW mid-market's evolution.
2. Compare the 8 companies sending money to South Korea in order to find the best deal.
Our comparison engine lists quite a few money transfer companies to send money to South Korea, such as TransferWise, Western Union, MoneyGram, OFX, Xendpay. Picking the right service from the more than 8 available options is the best way to save money.
3. Pick the best money transfer company for your personal needs
Decide if you’re looking for the option with the most competitive pricing, the shortest transfer time, best customer ratings, or other criteria.
It is also interesting to have a look at the pay-in and pay-out options. You will often have money transfer services allowing you to wire the money from your bank account, some will also give you the option to pay by credit and debit cards. To receive the money in South Korea, choose if you need the amount in KRW to be deposited on a local bank account or available for pick-up in cash at an agent location.
4. Sign up and get started wih your transaction with the money transfer provider of your choice
Visit the provider's homepage to register - be ready to upload an ID and/or a proof of adress - and get started with your money transfer to South Korea.