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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.)
South Korea Remittance
| Amount | |
|---|---|
Other bank charges
(2,500JPY) |
Pay by beneficiary Pay by myself |
| Total amount in JPY （Reference amount for deposit） |
Remittance fee for ({0}) today
| Amount（{1}） | Fee |
|---|
Estimated time of arrival
Generally within 24 hours
View details
| Remittance fee | |
|---|---|
| Amount in JPY | |
| Exchange rate | |
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※*Simulation results are calculated based on current exchange rates for reference purposes, and are not a guarantee of amounts for an actual transfer. ※When sending foreign currency, we recommend depositing more funds than the simulation results. (Withdrawal fees for remaining funds will be borne by PayForex.) |
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About South Korea Remittance
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
Firstly, 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 beneficiary information through [myPay]-[Beneficiary]- [South Korea].
STEP3: Remittance instruction
Send remittance request via [Speed 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. |
| 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 |
| 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 |