South Korea Remittance | 海外送金 | 国際送金 | 為替両替 | PayForex | ペイフォレックス

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south_korea South Korea RemittanceSpeed Remittance

About South Korea Remittance

South Korea Speed Remittance

  • Speed Remittance for local currency (KRW) is possible.
  • Speed Remittance generally arrives within 24 hours after the transfer request is received. (Weekends, holidays and local bank holidays are excepted.)

How to remit

After you activate your PayForex account, you can send remittance request through customer page “myPay”. 3 steps for speed remittance without exchange operation.
※If you are remitting other currencies to South Korea other than KRW, please follow “Transaction process” as standard remittance.

STEP1: Deposit

DepositFirstly, deposit into PayForex account. If you use for “Speed Deposit“, you can deposit after you confirm the transfer currency and amount on “STEP3: Remittance instruction”. Please select the deposit methods based on your needs.

STEP2: Register a beneficiary bank account

Register a beneficiary bank account Register beneficiary information through [myPay]-[Beneficiary]- [South Korea].

STEP3: Remittance instruction

Remittance instruction Send remittance request via [Remittance]-[South Korea]. Input either JPY amount or KRW amount. It will automatically exchange so there is no need to do exchange in advance. Moreover, if you haven’t deposited or there is not enough on your balance, you could always use “Speed Deposit“.

Terms of use / Restrictions

South Korea Speed Remittance

Items Contents
Sender Must open PayForex account (Individual and Corporate)
Beneficiary Domestic bank account holder in South Korea (Individual and Corporate) .
※When beneficiary is individual, birth date and phone number are necessary.
Transfer currency KRW only
※Beneficiary account is limited to KRW account. Other currency account (e.g. JPY) will not be applied.
Remit JPY Not available
Estimated time of arrival Generally within 24 hours
Fees Please check “Remittance fee for (KRW) today” on this page.
Other bank charges There might be other bank charges (Intermediary bank, beneficiary bank) involved.Please check “About fees” for details.
Pay Other Bank Charges service Available
Others ※ If remittance is between individuals, remittance amount limits to 5,000,000 KRW per transaction.
However, in the case of remittance exceeding 1,000,000 KRW, it is necessary to submit the identification documents of the beneficiary.
[How to submit] PayGate, our Korean financial partner, will make SMS request to the beneficiary’s mobile phone. The beneficiary should upload an ID image from the link in the SMS.
(The remittance amount limits to 50,000,000 KRW per year)

South Korea Standard Remittance

Items Contents
Sender Must open PayForex account (Individual and Corporate)
Beneficiary Domestic bank account holder in South Korea (Individual and Corporate) .
Transfer currency USD only
Remit JPY Not available
Estimated time of arrival 1-3 business days
Fees Please check “List of transfer fees” .
Other bank charges There might be other bank charges (Intermediary bank, beneficiary bank) involved.Please check “About fees” for details.
Pay Other Bank Charges service Available