Sending money overseas
The same amount sent through different channels arrives as different amounts.
The options
- Bank transfer — safe and suited to larger amounts. Counter or app.
- Licensed small-sum remittance operators — specialist firms, often with lower fees. Always check they are licensed.
- Remittance apps — convenient, but check limits and fees. See remittance-app.
- The post office — remittance is possible to some countries.
What to compare
- The transfer fee
- The exchange rate — a margin is usually added to the headline rate. Compare by what the recipient actually receives.
- Intermediary and receiving fees — sometimes deducted at the other end.
- Time taken
- Limits — annual and per-transaction limits apply.
What to prepare
- Alien Registration Card and passport
- An account in your own name
- Recipient details — name (spelled exactly as in their passport), account number, bank name, country
- Purpose and evidence — larger amounts may require proof of income.
Where to go
- Your bank
- 1332 Financial Supervisory Service (checking licensed firms, complaints)
- 1577-1366 · 1345 interpretation
- Each remittance firm's customer centre
Questions people ask
Which is cheapest? It depends on the amount and country. Don't look only at the fee — compare by what the recipient actually receives.
Are there limits? Yes, varying with your residence status and income evidence. Ask your bank.
I got the recipient's name wrong. Contact the sender immediately. Once credited, recovery can be difficult. Check the spelling twice before sending.
How do I know a firm is licensed? Check with 1332 or on the Financial Supervisory Service website. Unlicensed operators are dangerous.
Take care
Beware people offering "very cheap fees" who take your money into a personal account and send it on for you (hawala-style transfer). It is illegal, and you can lose the money or be drawn into crime. Always use a bank or a licensed remittance firm. See remittance-scam.
Related
remittance-app · remittance-scam · bank-account-salary · exchange-money
Source
Financial Supervisory Service www.fss.or.kr / As of 2026-08