Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

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Sending money from SOUTH KOREA to CHINA

Data collected on: Sep 16, 2019
KRW | USD
Payment instrument
Access point
Sending network coverage
Receiving method
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
10,754.008.96
0.90
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.90
5.385.38
12,912.0010.76
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Mobile phone
Sending network coverage
High
Receiving method
High
8,000.006.67
0.31
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.31
3.643.64
8,736.007.28
Shinhan Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.83
0.89
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.89
6.306.30
15,120.0012.60
China Construction Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
17,000.0014.17
0.96
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.96
8.048.04
19,296.0016.08
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Mobile phone
Sending network coverage
High
Receiving method
High
13,000.0010.83
0.31
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.31
5.725.72
13,728.0011.44
Shinhan Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
10,500.008.75
0.41
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.41
4.794.79
11,496.009.58
China Construction Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
17,000.0014.17
0.96
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.96
8.048.04
19,296.0016.08
KEB Hana Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
8,000.006.67
0.47
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.47
3.813.81
9,144.007.62
Shinhan Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
0.000.00
0.41
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.41
0.410.41
984.000.82
Citibank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
15,000.0012.50
1.14
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
1.14
7.397.39
17,736.0014.78
KEB Hana Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.83
0.96
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.96
6.386.38
15,312.0012.76
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
11,954.009.96
0.95
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.95
5.935.93
14,232.0011.86
Citibank
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
High
0.000.00
2.75
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
2.75
2.752.75
6,600.005.50
Kookmin Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.83
0.90
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.90
6.326.32
15,168.0012.64
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet, ATM Network
Sending network coverage
High
Receiving method
Agent
High
11,954.009.96
0.95
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.95
5.935.93
14,232.0011.86
Citibank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
8,000.006.67
0.57
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.57
3.903.90
9,360.007.80
Kookmin Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
8,000.006.67
0.62
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.62
3.953.95
9,480.007.90
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Agent
High
7,172.405.98
0.95
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.95
3.943.94
9,456.007.88
ICBC Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
15,000.0012.50
0.99
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.99
7.247.24
17,376.0014.48
Kookmin Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
1,000.000.83
0.90
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.90
1.321.32
3,168.002.64
ICBC Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
15,000.0012.50
0.99
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.99
7.247.24
17,376.0014.48
Kookmin Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
High
5,000.004.17
0.43
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.43
2.512.51
6,024.005.02
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.83
0.59
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.59
6.016.01
14,424.0012.02
Korea Post Office
Firm type: Post office
Payment instrument
Access point
Post Office branch
Sending network coverage
High
Receiving method
High
10,000.008.33
0.89
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.89
5.055.05
12,120.0010.10
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
10,500.008.75
0.31
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.31
4.684.68
11,232.009.36
Korea Post Office
Firm type: Post office
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
5,000.004.17
0.89
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.89
2.972.97
7,128.005.94
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
10,000.008.33
0.31
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.31
4.474.47
10,728.008.94
Total Average Third Quarter
4.974.97
Total Average Second Quarter
5.735.73
Total Average
Fee
9,993.878.33
Exchange Rate Margin (%)
0.800.80
Total Cost Percent (%)
4.974.97
Total Cost (KRW) Total Cost (USD)
11,920.899.93
Non-Transparent records
Bank account transfer Cash
Less than one hour Same day Next day 2 days 3-5 days
Bank account Cash Own/partner bank account
Payment instrument
Access point
Sending network coverage
Receiving method
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
10,500.008.82
0.31
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.31
2.072.07
12,316.5010.35
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
10,000.008.40
0.31
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.31
1.991.99
11,840.509.95
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Mobile phone
Sending network coverage
High
Receiving method
High
8,000.006.72
0.31
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.31
1.651.65
9,817.508.25
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Mobile phone
Sending network coverage
High
Receiving method
High
13,000.0010.92
0.31
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.31
2.492.49
14,815.5012.45
Shinhan Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
0.000.00
0.41
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.41
0.410.41
2,439.502.05
Shinhan Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
10,500.008.82
0.41
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.41
2.182.18
12,971.0010.90
Kookmin Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
High
5,000.004.20
0.43
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.43
1.271.27
7,556.506.35
KEB Hana Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
8,000.006.72
0.47
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.47
1.821.82
10,829.009.10
Citibank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
8,000.006.72
0.57
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.57
1.911.91
11,364.509.55
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.92
0.59
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.59
2.782.78
16,541.0013.90
Kookmin Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
8,000.006.72
0.62
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.62
1.961.96
11,662.009.80
Korea Post Office
Firm type: Post office
Payment instrument
Access point
Post Office branch
Sending network coverage
High
Receiving method
High
10,000.008.40
0.89
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.89
2.572.57
15,291.5012.85
Korea Post Office
Firm type: Post office
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
5,000.004.20
0.89
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.89
1.731.73
10,293.508.65
Shinhan Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.92
0.89
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.89
3.073.07
18,266.5015.35
Kookmin Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
1,000.000.84
0.90
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.90
1.071.07
6,366.505.35
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
14,339.0012.05
0.90
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.90
3.313.31
19,694.5016.55
Kookmin Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.92
0.90
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.90
3.083.08
18,326.0015.40
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
11,954.0010.05
0.95
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.95
2.962.96
17,612.0014.80
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet, ATM Network
Sending network coverage
High
Receiving method
Agent
High
11,954.0010.05
0.95
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.95
2.962.96
17,612.0014.80
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Agent
High
7,172.406.03
0.95
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.95
2.152.15
12,792.5010.75
China Construction Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
17,000.0014.29
0.96
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.96
3.823.82
22,729.0019.10
China Construction Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
17,000.0014.29
0.96
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.96
3.823.82
22,729.0019.10
KEB Hana Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.92
0.96
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.96
3.143.14
18,683.0015.70
ICBC Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
15,000.0012.61
0.99
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.99
3.523.52
20,944.0017.60
ICBC Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
15,000.0012.61
0.99
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.99
3.523.52
20,944.0017.60
Citibank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
15,000.0012.61
1.14
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
1.14
3.663.66
21,777.0018.30
Citibank
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
High
0.000.00
2.75
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
2.75
2.752.75
16,362.5013.75
Total Average Third Quarter
2.512.51
Total Average Second Quarter
3.273.27
Total Average
Fee
10,126.648.51
Exchange Rate Margin (%)
0.800.80
Total Cost Percent (%)
2.512.51
Total Cost (KRW) Total Cost (USD)
14,910.2612.53
Non-Transparent records
Bank account transfer Cash
Less than one hour Same day Next day 2 days 3-5 days
Bank account Cash Own/partner bank account
Least Costly Corridors From South Korea