Remitting from Japan to Korea

The following table shows how much it costs to remit money from Japan To Korea. Click on column headings to sort the data.

Note: Corridor averages are unweighted and do not reflect the market shares of the different firms that compose the average. For comparability purposes, the two initial USD reference amounts of $200 and $500 were kept. In the third quarter of 2009, the amounts in local currency were adjusted in order to reflect foreign exchange fluctuations.

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Collection period for Third quarter 2009 | First quarter 2009 | 2008

See prices in JPY | USD

1900048000

				Total cost
Firm name	Firm type	Fee (JPY)	Exchange rate margin (%)	Percent (%)	JPY	Transfer speed	Network Coverage	Date
Money Gram	MTO	1500.00	2.70	10.60	2014.00	Less than one hour	Nationwide	Sep 27, 2009
Lloyds Remittance Service (Go Lloyds)	Bank	2000.00	1.80	12.33	2342.70	3-5 days	Nationwide	Sep 27, 2009
Japan Post Bank	Bank	2500.00	1.80	14.96	2842.40	6 days or more	Nationwide	Sep 27, 2009
Japan Post Bank	Bank	2500.00	1.80	14.96	2842.40	6 days or more	Nationwide	Sep 27, 2009
Korea Exchange Bank	Bank	3000.00	2.42	18.21	3459.90	Next day	Nationwide	Sep 27, 2009
Korea Exchange Bank	Bank	3000.00	2.42	18.21	3459.90	3-5 days	Nationwide	Sep 27, 2009
Citibank	Bank	4000.00	1.80	22.85	4341.50	6 days or more	Nationwide	Sep 27, 2009
Suruga Bank	Bank	5500.00	1.80	30.75	5842.50	6 days or more	Nationwide	Sep 27, 2009
Resona Bank	Bank	6000.00	1.80	33.38	6342.20	3-5 days	Nationwide	Sep 27, 2009
Resona Bank	Bank	7500.00	1.80	41.28	7843.20	3-5 days	Nationwide	Sep 27, 2009
Bank Average		4000.00	1.94	22.99	4368.10
MTO Average		1500.00	2.70	10.60	2014.00
Total Average		3750.00	2.02	21.75	4132.50
Total Average in First Quarter 2009		3333.33	3.31	19.18	3644.20

	Total cost
Firm name	Firm type	Fee (JPY)	Exchange rate margin (%)	Percent (%)	JPY	Transfer speed	Network Coverage	Date
Money Gram	MTO	1500.00	2.70	5.83	2798.40	Less than one hour	Nationwide	Sep 27, 2009
Lloyds Remittance Service (Go Lloyds)	Bank	2000.00	1.80	5.97	2865.60	3-5 days	Nationwide	Sep 27, 2009
Japan Post Bank	Bank	2500.00	1.80	7.01	3364.80	6 days or more	Nationwide	Sep 27, 2009
Japan Post Bank	Bank	2500.00	1.80	7.01	3364.80	6 days or more	Nationwide	Sep 27, 2009
Korea Exchange Bank	Bank	3000.00	2.42	8.67	4161.60	Next day	Nationwide	Sep 27, 2009
Korea Exchange Bank	Bank	3000.00	2.42	8.67	4161.60	3-5 days	Nationwide	Sep 27, 2009
Citibank	Bank	4000.00	1.80	10.14	4867.20	6 days or more	Nationwide	Sep 27, 2009
Suruga Bank	Bank	5500.00	1.80	13.26	6364.80	6 days or more	Nationwide	Sep 27, 2009
Resona Bank	Bank	6000.00	1.80	14.30	6864.00	3-5 days	Nationwide	Sep 27, 2009
Resona Bank	Bank	7500.00	1.80	17.43	8366.40	3-5 days	Nationwide	Sep 27, 2009
Bank Average		4000.00	1.94	10.27	4929.60
MTO Average		1500.00	2.70	5.83	2798.40
Total Average		3750.00	2.02	9.83	4718.40
Total Average in First Quarter 2009		3333.33	2.15	8.56	4108.80

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
Money Gram	MTO	15.79	2.70	10.60	21.20	Less than one hour	Nationwide	Sep 27, 2009
Lloyds Remittance Service (Go Lloyds)	Bank	21.05	1.80	12.33	24.66	3-5 days	Nationwide	Sep 27, 2009
Japan Post Bank	Bank	26.32	1.80	14.96	29.92	6 days or more	Nationwide	Sep 27, 2009
Japan Post Bank	Bank	26.32	1.80	14.96	29.92	6 days or more	Nationwide	Sep 27, 2009
Korea Exchange Bank	Bank	31.58	2.42	18.21	36.42	Next day	Nationwide	Sep 27, 2009
Korea Exchange Bank	Bank	31.58	2.42	18.21	36.42	3-5 days	Nationwide	Sep 27, 2009
Citibank	Bank	42.11	1.80	22.85	45.70	6 days or more	Nationwide	Sep 27, 2009
Suruga Bank	Bank	57.89	1.80	30.75	61.50	6 days or more	Nationwide	Sep 27, 2009
Resona Bank	Bank	63.16	1.80	33.38	66.76	3-5 days	Nationwide	Sep 27, 2009
Resona Bank	Bank	78.95	1.80	41.28	82.56	3-5 days	Nationwide	Sep 27, 2009
Bank Average		42.11	1.94	22.99	45.98
MTO Average		15.79	2.70	10.60	21.20
Total Average		39.47	2.02	21.75	43.50
Total Average in First Quarter 2009		31.75	3.31	19.18	38.36

	Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
Money Gram	MTO	15.62	2.70	5.83	29.15	Less than one hour	Nationwide	Sep 27, 2009
Lloyds Remittance Service (Go Lloyds)	Bank	20.83	1.80	5.97	29.85	3-5 days	Nationwide	Sep 27, 2009
Japan Post Bank	Bank	26.04	1.80	7.01	35.05	6 days or more	Nationwide	Sep 27, 2009
Japan Post Bank	Bank	26.04	1.80	7.01	35.05	6 days or more	Nationwide	Sep 27, 2009
Korea Exchange Bank	Bank	31.25	2.42	8.67	43.35	Next day	Nationwide	Sep 27, 2009
Korea Exchange Bank	Bank	31.25	2.42	8.67	43.35	3-5 days	Nationwide	Sep 27, 2009
Citibank	Bank	41.67	1.80	10.14	50.70	6 days or more	Nationwide	Sep 27, 2009
Suruga Bank	Bank	57.29	1.80	13.26	66.30	6 days or more	Nationwide	Sep 27, 2009
Resona Bank	Bank	62.50	1.80	14.30	71.50	3-5 days	Nationwide	Sep 27, 2009
Resona Bank	Bank	78.12	1.80	17.43	87.15	3-5 days	Nationwide	Sep 27, 2009
Bank Average		41.67	1.94	10.27	51.35
MTO Average		15.62	2.70	5.83	29.15
Total Average		39.06	2.02	9.83	49.15
Total Average in First Quarter 2009		32.05	2.15	8.56	42.80

2100052000

				Total cost
Firm name	Firm type	Fee (JPY)	Exchange rate margin (%)	Percent (%)	JPY	Transfer speed	Network Coverage	Date
MoneyGram (Banco Itau SA)	Bank/MTO	1500.00	4.05	11.19	2349.90	Less than one hour	N/A	Feb 12, 2009
Japan Post Bank	Bank	2500.00	2.81	14.72	3091.20	6 days or more	N/A	Feb 12, 2009
Citibank Japan	Bank	4000.00	1.08	20.13	4227.30	3-5 days	N/A	Feb 12, 2009
Lloyds Remittance Service (Go Lloyds)	Bank	2000.00	10.80	20.32	4267.20	3-5 days	N/A	Feb 12, 2009
Resona Bank	Bank	4500.00	-0.97	20.46	4296.60	6 days or more	N/A	Feb 12, 2009
Suruga Bank	Bank	5500.00	2.10	28.29	5940.90	6 days or more	N/A	Feb 12, 2009
Bank Average		3700.00	3.16	20.78	4363.80
Bank/MTO Average		1500.00	4.05	11.19	2349.90
Total Average		3333.33	3.31	19.18	4027.80
Total Average in 2008		3142.86	1.19	16.16	3393.60

	Total cost
Firm name	Firm type	Fee (JPY)	Exchange rate margin (%)	Percent (%)	JPY	Transfer speed	Network Coverage	Date
Japan Post Bank	Bank	2500.00	2.05	6.86	3567.20	6 days or more	N/A	Feb 12, 2009
MoneyGram (Banco Itau SA)	Bank/MTO	1500.00	4.05	6.93	3603.60	Less than one hour	N/A	Feb 12, 2009
Resona Bank	Bank	4500.00	-0.97	7.68	3993.60	6 days or more	N/A	Feb 12, 2009
Citibank Japan	Bank	4000.00	1.08	8.77	4560.40	3-5 days	N/A	Feb 12, 2009
Lloyds Remittance Service (Go Lloyds)	Bank	2000.00	5.21	9.06	4711.20	3-5 days	N/A	Feb 12, 2009
Suruga Bank	Bank	5500.00	1.47	12.05	6266.00	6 days or more	N/A	Feb 12, 2009
Bank Average		3700.00	1.77	8.88	4617.60
Bank/MTO Average		1500.00	4.05	6.93	3603.60
Total Average		3333.33	2.15	8.56	4451.20
Total Average in 2008		3428.57	1.04	7.64	3972.80

Corridor note

In this corridor all RSPs send USD. At the point of collection, the money is converted to the local currency. Remittance recipients may incur an additional cost (not shown here) if and when converting the USD to the local currency.

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
MoneyGram (Banco Itau SA)	Bank/MTO	14.29	4.05	11.19	22.38	Less than one hour	N/A	Feb 12, 2009
Japan Post Bank	Bank	23.81	2.81	14.72	29.44	6 days or more	N/A	Feb 12, 2009
Citibank Japan	Bank	38.10	1.08	20.13	40.26	3-5 days	N/A	Feb 12, 2009
Lloyds Remittance Service (Go Lloyds)	Bank	19.05	10.80	20.32	40.64	3-5 days	N/A	Feb 12, 2009
Resona Bank	Bank	42.86	-0.97	20.46	40.92	6 days or more	N/A	Feb 12, 2009
Suruga Bank	Bank	52.38	2.10	28.29	56.58	6 days or more	N/A	Feb 12, 2009
Bank Average		35.24	3.16	20.78	41.56
Bank/MTO Average		14.29	4.05	11.19	22.38
Total Average		31.75	3.31	19.18	38.36
Total Average in 2008		29.93	1.19	16.16	32.32

	Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
Japan Post Bank	Bank	24.04	2.05	6.86	34.30	6 days or more	N/A	Feb 12, 2009
MoneyGram (Banco Itau SA)	Bank/MTO	14.42	4.05	6.93	34.65	Less than one hour	N/A	Feb 12, 2009
Resona Bank	Bank	43.27	-0.97	7.68	38.40	6 days or more	N/A	Feb 12, 2009
Citibank Japan	Bank	38.46	1.08	8.77	43.85	3-5 days	N/A	Feb 12, 2009
Lloyds Remittance Service (Go Lloyds)	Bank	19.23	5.21	9.06	45.30	3-5 days	N/A	Feb 12, 2009
Suruga Bank	Bank	52.88	1.47	12.05	60.25	6 days or more	N/A	Feb 12, 2009
Bank Average		35.58	1.77	8.88	44.40
Bank/MTO Average		14.42	4.05	6.93	34.65
Total Average		32.05	2.15	8.56	42.80
Total Average in 2008		32.97	1.04	7.64	38.20

Corridor note

2100052000

				Total cost
Firm name	Firm type	Fee (JPY)	Exchange rate margin (%)	Percent (%)	JPY	Transfer speed	Network Coverage	Date
MoneyGram	MTO	1500.00	1.04	8.18	1717.80	Instant	-	May 20, 2008
Citibank Japan	Bank	2000.00	1.04	10.57	2219.70	2-5 days	-	May 20, 2008
Lloyds Remittance Service (Go Lloyds)	Bank	2000.00	2.08	11.61	2438.10	3 days	-	May 20, 2008
Western Union	MTO	2500.00	2.08	13.99	2937.90	Instant	-	May 20, 2008
Citibank Japan (Telegram Express)	Bank	4000.00	1.04	20.09	4218.90	2 days	-	May 20, 2008
Resona Bank	Bank	4500.00	0.00	21.43	4500.30	2-7 days	-	May 20, 2008
Suruga Bank	Bank	5500.00	1.04	27.23	5718.30	2-7 days	-	May 20, 2008
Bank Average		3600.00	1.04	18.18	3817.80
MTO Average		2000.00	1.56	11.09	2328.90
Total Average		3142.86	1.19	16.16	3393.60
First Quarter 2009		3333.33	3.31	19.18	4027.80

	Total cost
Firm name	Firm type	Fee (JPY)	Exchange rate margin (%)	Percent (%)	JPY	Transfer speed	Network Coverage	Date
MoneyGram	MTO	1500.00	1.04	3.93	2043.60	Instant	-	May 20, 2008
Citibank Japan	Bank	2000.00	1.04	4.89	2542.80	2-5 days	-	May 20, 2008
Lloyds Remittance Service (Go Lloyds)	Bank	2000.00	2.08	5.93	3083.60	3 days	-	May 20, 2008
Resona Bank	Bank	4500.00	0.00	8.65	4498.00	2-7 days	-	May 20, 2008
Citibank Japan (Telegram Express)	Bank	4000.00	1.04	8.73	4539.60	2 days	-	May 20, 2008
Western Union	MTO	4500.00	1.04	9.70	5044.00	Instant	-	May 20, 2008
Suruga Bank	Bank	5500.00	1.04	11.62	6042.40	2-7 days	-	May 20, 2008
Bank Average		3600.00	1.04	7.96	4139.20
MTO Average		3000.00	1.04	6.81	3541.20
Total Average		3428.57	1.04	7.64	3972.80
First Quarter 2009		3333.33	2.15	8.56	4451.20

Corridor note

The exchange rate column reflects the fact that money is sent in USD. At the point of collection, the money is converted to the local currency. Remittance recipients may incur an additional cost (not shown here) if and when converting the USD to the local currency.

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
MoneyGram	MTO	14.29	1.04	8.18	16.36	Instant	-	May 20, 2008
Citibank Japan	Bank	19.05	1.04	10.57	21.14	2-5 days	-	May 20, 2008
Lloyds Remittance Service (Go Lloyds)	Bank	19.05	2.08	11.61	23.22	3 days	-	May 20, 2008
Western Union	MTO	23.81	2.08	13.99	27.98	Instant	-	May 20, 2008
Citibank Japan (Telegram Express)	Bank	38.10	1.04	20.09	40.18	2 days	-	May 20, 2008
Resona Bank	Bank	42.86	0.00	21.43	42.86	2-7 days	-	May 20, 2008
Suruga Bank	Bank	52.38	1.04	27.23	54.46	2-7 days	-	May 20, 2008
Bank Average		34.29	1.04	18.18	36.36
MTO Average		19.05	1.56	11.09	22.18
Total Average		29.93	1.19	16.16	32.32
First Quarter 2009		31.75	3.31	19.18	38.36

	Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
MoneyGram	MTO	14.42	1.04	3.93	19.65	Instant	-	May 20, 2008
Citibank Japan	Bank	19.23	1.04	4.89	24.45	2-5 days	-	May 20, 2008
Lloyds Remittance Service (Go Lloyds)	Bank	19.23	2.08	5.93	29.65	3 days	-	May 20, 2008
Resona Bank	Bank	43.27	0.00	8.65	43.25	2-7 days	-	May 20, 2008
Citibank Japan (Telegram Express)	Bank	38.46	1.04	8.73	43.65	2 days	-	May 20, 2008
Western Union	MTO	43.27	1.04	9.70	48.50	Instant	-	May 20, 2008
Suruga Bank	Bank	52.88	1.04	11.62	58.10	2-7 days	-	May 20, 2008
Bank Average		34.62	1.04	7.96	39.80
MTO Average		28.85	1.04	6.81	34.05
Total Average		32.97	1.04	7.64	38.20
First Quarter 2009		32.05	2.15	8.56	42.80

Corridor note

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