Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

From KRSouth Korea you can also send money to

Sending money from SOUTH KOREA to CHINA

Data collected on: Oct 27, 2020
KRW | USD
Payment instrument
Access point
Sending network coverage
Transfer speedsort descending
<em>Transfer Speed</em> has been standardized in six broad categories.
Receiving method
Exchange rate margin (%)
The exchange rate margin is the cost resulting from the fact that the firm applies a rate that is different from the market reference rate. The margin is the percentage difference between the market reference rate and the exchange rate actually applied to the transaction.
Total cost (%)
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
Total cost (KRW)Total cost (USD)
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
KEB Hana Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.83
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
6.176.17
14,808.0012.34
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Bank branch
High
13,661.0011.38
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
6.456.45
15,480.0012.90
Citibank
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
High
0.000.00
2.90
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
2.90
2.902.90
6,960.005.80
Kookmin Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.83
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
6.176.17
14,808.0012.34
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Bank branch
High
6,830.005.69
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
3.603.60
8,640.007.20
Citibank
Firm type: Bank
Payment instrument
Access point
Internet
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
Kookmin 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
3.803.80
9,120.007.60
ICBC Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
15,000.0012.50
0.85
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.85
7.107.10
17,040.0014.20
Kookmin Bank
Firm type: Bank
Payment instrument
Access point
ATM Network
Sending network coverage
High
Receiving method
High
1,000.000.83
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
1.171.17
2,808.002.34
ICBC Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
15,000.0012.50
0.85
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.85
7.107.10
17,040.0014.20
Kookmin Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
5,000.004.17
0.28
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.28
2.362.36
5,664.004.72
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.83
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
6.176.17
14,808.0012.34
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
1.52
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
1.52
5.695.69
13,656.0011.38
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
10,500.008.75
0.48
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.48
4.854.85
11,640.009.70
Korea Post Office
Firm type: Post office
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
5,000.004.17
1.52
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
1.52
3.603.60
8,640.007.20
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
10,000.008.33
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
4.924.92
11,808.009.84
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
10,247.008.54
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
5.035.03
12,072.0010.06
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
8,000.006.67
0.48
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.48
3.813.81
9,144.007.62
Shinhan Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.83
0.75
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.75
6.166.16
14,784.0012.32
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
ATM Network
Sending network coverage
High
Receiving method
High
13,000.0010.83
0.48
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.48
5.895.89
14,136.0011.78
Shinhan Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
10,500.008.75
0.27
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.27
4.654.65
11,160.009.30
China Construction Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
18,000.0015.00
0.87
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.87
8.378.37
20,088.0016.74
KEB Hana Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
8,000.006.67
0.27
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.27
3.613.61
8,664.007.22
Shinhan Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
5,000.004.17
0.75
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.75
2.832.83
6,792.005.66
Citibank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
15,000.0012.50
0.79
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.79
7.047.04
16,896.0014.08
Total Average Fourth Quarter 2020
4.924.92
Total Average Third Quarter 2020
5.745.74
Total Average
Fee
9,909.528.26
Exchange Rate Margin (%)
0.800.80
Total Cost Percent (%)
4.924.92
Total Cost (KRW) Total Cost (USD)
11,815.689.85
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
0.48
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.48
2.242.24
13,328.0011.20
Korea Post Office
Firm type: Post office
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
5,000.004.20
1.52
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
1.52
2.362.36
14,042.0011.80
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
10,000.008.40
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
2.442.44
14,518.0012.20
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
10,247.008.61
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
2.492.49
14,815.5012.45
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
8,000.006.72
0.48
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.48
1.821.82
10,829.009.10
Shinhan Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.92
0.75
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.75
2.932.93
17,433.5014.65
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
ATM Network
Sending network coverage
High
Receiving method
High
13,000.0010.92
0.48
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.48
2.662.66
15,827.0013.30
Shinhan Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
10,500.008.82
0.27
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.27
2.042.04
12,138.0010.20
China Construction Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
18,000.0015.13
0.87
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.87
3.903.90
23,205.0019.50
KEB Hana Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
8,000.006.72
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
2.102.10
12,495.0010.50
Shinhan Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
5,000.004.20
0.75
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.75
1.591.59
9,460.507.95
Citibank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
15,000.0012.61
0.79
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.79
3.313.31
19,694.5016.55
KEB Hana Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.92
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
2.942.94
17,493.0014.70
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Bank branch
High
29,598.0024.87
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
5.735.73
34,093.5028.65
Citibank
Firm type: Bank
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
High
0.000.00
2.90
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
2.90
2.902.90
17,255.0014.50
Kookmin Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.92
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
2.942.94
17,493.0014.70
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Bank branch
High
6,830.005.74
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
1.901.90
11,305.009.50
Citibank
Firm type: Bank
Payment instrument
Access point
Internet
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
Kookmin 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
1.811.81
10,769.509.05
ICBC Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
15,000.0012.61
0.85
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.85
3.373.37
20,051.5016.85
Kookmin Bank
Firm type: Bank
Payment instrument
Access point
ATM Network
Sending network coverage
High
Receiving method
High
1,000.000.84
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
0.920.92
5,474.004.60
ICBC Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
15,000.0012.61
0.85
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.85
3.373.37
20,051.5016.85
Kookmin Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
5,000.004.20
0.28
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.28
1.121.12
6,664.005.60
Industrial Bank of Korea
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
13,000.0010.92
0.76
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
0.76
2.942.94
17,493.0014.70
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
1.52
Percentage difference between market reference rate 0.00 and exchange rate charged 0.00
1.52
3.203.20
19,040.0016.00
Total Average Fourth Quarter 2020
2.592.59
Total Average Third Quarter 2020
3.183.18
Total Average
Fee
10,547.008.86
Exchange Rate Margin (%)
0.820.82
Total Cost Percent (%)
2.592.59
Total Cost (KRW) Total Cost (USD)
15,391.4612.93
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