How to Wire Money to Korea

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  1. a.s.m.a says:

    done it b4 for payment-jeju tour..tapi masa tu gunakan pertolongan kazen yg kerja bank..public bank..tak ingat kna charge berapa tpi agak mahal la..sbb taktau banyak pasal transfer ni,masa mula2 tu banyak kali kena beremail 2-3x tanya information needed for transaction..memang mencabar rasanya wktu tu..alhamdulilah selesai dan dah selamat pulang pun ^^

    anyway, all d best for ur study !!

  2. Anonymous says:

    May i ask if use TT, does korea bank charge you any amount?

    And have you used western union to send money to korea before? Do you know how much is the western union fees send 100 USD to Korea?

    Thank you.

  3. Zarina Jani says:

    Hi anonymous,
    The receiving bank in Korea will charge as well but I'm not too sure how much. The Maybank's employee here advised me to add USD50 more

    I did the TT from the counter at Maybank and was charged RM25 for the TT service fee and RM2 for cable fee.

    Never done western union before.

  4. Anonymous says:

    Hi,

    First of all, thanks for sharing so much useful info on South Korea 🙂

    I am going to TT money to South Korea through Maybank but I can only choose USD as the currency. May I know whether you transferred in USD or KRW?

    Thanks 🙂

  5. Zarina Jani says:

    Hi Anonymous,
    I wired USD.

  6. kindaichi says:

    I see…will the other end receive exactly the amount of KRW that we wire? Or will there be some exchange rate difference since we convert from RM to USD then KRW?

  7. Zarina Jani says:

    Hi Kindaichi,

    There will definitely have FOREX difference.

    TT is more expensive than western union though.

    I sent 1,500USD for 1,575,000WON and Sogang said I had balance of 30,000 won.

    If roughly 1,500USD = 1,740,000WON

    The forex difference would be around 135,000WON = 366RM

    *based on rough calculation, but you should get the gist

  8. kindaichi says:

    Thanks for being so helpful. Take good care of yourself in the winter 🙂

  9. kindaichi says:

    Hi Zarina,

    I hv just finished reading almost all your entries in this blog. Very amazing experiences you have gathered 🙂 I also found the answer to my question earlier on how many days it took for your pymt to reach Sogang. So you can ignore my earlier comment 🙂

    Wishing you all the best with your exams and your journey in the year of dragon 🙂

  10. kindaichi says:

    Hi Zarina,

    It's me again, kindaichi. May I know how long it took for your payment to reach Sogang?

    Thanks 🙂

  11. Anonymous says:

    Hi Zarina,

    Thank you so much for writing this! It has given me an idea of what to expect 🙂 I had trouble initially needing to send the application fee to Yonsei, CIMB said its too small an amount that it might get rejected because it happen to them before, then OCBC tells me they have no Korean agents affiliated with the bank =_= HSBC overseas said they are not sure eventhough they have a HSBC in Korea…so I am not sure how HSBC worldwide works. Now that I am able to send the tuition together with application fee, I will give CIMB another try! Fingers crossed.

    Thank you again,
    Kelly

  12. Anonymous says:

    Hi all,
    I used Maybank counter to TT $2100 to South Korea, RM25 paid for maybank service. 3 days later, recipent told me they only received $2000.

    Called back to check, they said the short $100 could due to agent and recipient bank charges and i couldnt trace who charge how much. This is the first time I TT and encounter such surprise and charging $100 for TT $2100 is a lot. This is unfair and not transparent policy.. At least there must have a clear remittance charge to expect.

    I would chose pay via credit card as it is instance and transparent.

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