FAQ About Sending Money to South Korea

• What's the cheapest way to send money to South Korea?

  The cheapest way to send money to South Korea is through an online provider. Among the 15 available, Remitly was most often the cheapest provider (in 28.9% of the searches on Monito.com in the past 3 months).

• What are the best providers to send money to South Korea?

  Here are the providers that were the most often the cheapest in the comparisons of the past 3 months on Monito.com:

  • Remitly (cheapest in 28.9% of the searches)
  • Wise (cheapest in 20.5% of the searches)
  • Instarem (cheapest in 14.7% of the searches)
• How much does it cost to send money to South Korea?

  If you send money with the cheapest available provider, the total cost of a transfer to KRW was %COUNTRY_TO_CHEAPEST_PROVIDER_COST%% of the transfer amount (including all fees and exchange rates) over the past month. Of course, this figure will vary based on the sending country, the pay-in and pay-out options

  In contrast, the cost of the most expensive option was %COUNTRY_TO_MOST_EXPENSIVE_PROVIDER_COST%% on average.

• What is the cost of making an international transfer to South Korea using my bank?

  The average total cost (including hidden exchange rate markups) of making a transfer to South Korea with banks compared by Monito.com during the past months was 9.8% of the transfer amount. This is 6.4x more expensive than sending money with the cheapest online provider alternative.

• Is PayPal a good option for sending money to South Korea?

  It’s possible to send money to South Korea with PayPal, but it’s expensive. The average cost of transfers to South Korea with PayPal is %COUNTRY_TO_PAYPAL_COST%%, whereas the cheapest online services have an average cost of %COUNTRY_TO_CHEAPEST_PROVIDER_COST%% of the amount you send.

• What is the fastest option to send money to South Korea?

  The provider that was most often the fastest on Monito's comparisons over the last three3 months was Wise (average fastest transfer time: Same day)