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Send money to South Korea
USD
KRW|Pricing observed Mid-market 1341.2046Top-ranked estimateof 8 providers
TapTap Send
Rate 1328.1949 · Fee free
You send
$1,000
Estimated receipt
₩1,328,195
₩101,100 more than the lowest estimate · 0.97% markup vs mid-market
Affiliate link · No extra cost to you
Quick answer: For 1,000 USD to KRW, TapTap Send ranks first among 8 provider estimates, with an estimated payout of 1,328,194.91 KRW. The first-ranked estimate pays 101,137.22 KRW more than the lowest estimate in this comparison.
Latest pricing observation: . Oldest observation used: . Payouts are estimated from collected fees and markups with a mid-market reference. Collection schedules vary by source. Quotes are collected by currency pair, so we cannot confirm that every provider serves specifically — check availability, funding method and delivery method with the provider before you commit. How we collect and rank quotes.
What is the cheapest way to send USD to KRW?
Sending $1,000 from to South Korea. Ranked by estimated payout, with customer ratings used for closely matched results.
Source: SendMoneyCompare · Estimated payouts from collected pricing and mid-market rates
#ProviderRateFeeRecipient getsSend
Rate 1328.1949·Fee Free·0.97% markup
Best rate 122 of 122 days
↓ 10.1% over 122dAvg: 1475.10 KRW (-10.0% vs avg)Range: 1325.96–1543.86
1
TapTap SendBest value
Under 3 minutes (95% of transfers)0.97% markup
Best rate 122 of 122 days
↓ 10.1% over 122dAvg: 1475.10 KRW (-10.0% vs avg)Range: 1325.96–1543.86
1328.1949
Free
₩1,328,194.91
Send
Rate 1326.4513·Fee $11.00·1.10% markup
Rate 1322.5619·Fee $13.90·1.39% markup
Rate 1334.7668·Fee $29.28·0.48% markup
Rate 1318.6724·Fee $16.80·1.68% markup
Rate 1315.7217·Fee $19.00·1.90% markup
Rate 1328.1949·Fee $58.06·0.97% markup
Estimated payout difference: The first-ranked provider pays more than the lowest estimate by ₩101,137.22 on a $1,000 transfer.
Some links on this page are affiliate links — we may earn a commission at no extra cost to you. Rankings come from live transfer data and are ordered by what your recipient receives. Whether a provider pays us plays no part in that order. Where payouts land within 0.1% of each other — less than rates typically move between our updates — the higher-rated provider is listed first. Editorial policy
South Korea is a high-income developed economy with a sophisticated banking system. KRW transfers are common among Korean diaspora in the US, Canada, Australia, and Japan, as well as for international business payments and education fees. Korea's real-time payment network handles interbank transfers in seconds, and most specialist providers deliver within 1 business day.
- Korea's domestic payment system processes interbank transfers near-instantly during banking hours. Major banks have developed mobile apps (Toss, KakaoBank) that simplify receiving and managing international transfers.
- Major banks: KB Kookmin, Shinhan Bank, Hana Bank, Woori Bank, IBK (Industrial Bank of Korea), and NH Nonghyup. All accept inbound SWIFT transfers.
- Korean bank accounts consist of a bank code and account number (10–14 digits depending on the bank). No IBAN is used. A SWIFT code is required for international wires.
- KRW is a freely floating currency managed by the Bank of Korea. It has shown 5–15% annual fluctuation against USD, making rate comparison important.
- The Financial Supervisory Service (FSS) and Financial Services Commission (FSC) regulate all financial transfers in South Korea.
Which provider offers the best USD to KRW rate?
TapTap Send
4.7Exchange rate
1328.1949
Fee
Free
Recipient gets
₩1,328,194.91
Speed
Under 3 minutes (95% of transfers)
Also available · Digital-asset rails
Crypto & stablecoin routes for USD → KRW
For a tech-comfortable sender, stablecoin rails can beat every bank and app. These aren't one-tap services — each is a fiat on-ramp → blockchain → local cash-out. Here's the all-in cost and how each works.
UpbitBeats mid-market
Coinbase → Stellar (USDC) → Upbit · ~5 seconds
1,355,225 KRW
0.76% rebate all-in
+
UpbitBeats mid-market
Coinbase → Stellar (USDC) → Upbit · ~5 seconds
1,355,225 KRW
0.76% rebate all-in
- 1Coinbase USD→USDC: FREE
- 2Stellar network: 0.000001 USDC
- 3Upbit: 1.01% spread
- 41000 KRW withdrawal fee
Also routable via Stellar (USDC), Solana (USDC), Polygon (USDC), Arbitrum (USDC).
Source: CCXT (upbit)
Crypto rails involve exchange accounts, wallets, and price/liquidity risk. Costs are estimates from live exchange and network data, refreshed every 6 hours. Not financial advice.
SendMoneyCompare
WhatsApp Channel · Free
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Example alert
USD → KRW · cheapest just changed
Sending 1,000 USD today? The cheapest provider on this corridor changed overnight — same money in, more KRW out. A bank wire is still the most expensive way to send it.
sendmoneycompare.com/send-money/send-money-to-south-korea
09:12Watch the card-funding fee
Two providers added a card-funding fee this morning. Paying by bank transfer is the cheaper route today.
Thu 16:40Guides, fees & how it works
Which provider is best for each transfer type?
Different providers excel at different things. Here's who's best for each use case on the to South Korea route.
Cheapest transfer
TapTap Send
Delivers the most KRW for your money
Fastest transfer
TapTap Send
Delivers in Under 3 minutes (95% of transfers)
Cash pickup
Remitly
Widest cash pickup network
Bank transfer
TapTap Send
Best rate for bank deposit to South Korea
How to send money to South Korea
Sending money to South Koreais straightforward with the right provider. Here's how it works in 3 simple steps.
Step 1
Enter your transfer details
Choose how much USD you want to send, compare providers above, and pick the one offering the best KRW amount for your transfer to South Korea.
Step 2
Add your recipient
Enter your recipient's details in South Korea — you'll need their bank account number. Complete the provider’s verification before expecting delivery.
Step 3
Send & track your transfer
Choose an available funding method, confirm the final payout and arrival estimate, then keep your tracking reference.
What you need to send money to South Korea
Make sure you have these details from your recipient before starting your transfer.
Full name
Recipient's full legal name as it appears on their bank account
Bank account number
Recipient's bank account number
Bank name
Name of the receiving bank
SWIFT/BIC code
Optional8 or 11-character SWIFT code identifying the bank (may be optional with IBAN)
Note: You need the recipient's bank account number and bank name. Contact the recipient's bank for their SWIFT/BIC code if required.
Transfer examples: USD to KRW
See how much your recipient would get for common transfer amounts.
Send $500
ProviderFeeReceives
TapTap Send
1328.19 · Under 3 minutes (95% of transfers)
InstaReM
1326.45 · 1-3 business days
Remitly
1322.56 · Minutes to 3-5 days
Wise
1318.67 · 1-2 business days
Western Union
1315.72 · 1 business day
XE Money Transfer
1334.77 · 1-4 business days
ProviderFeeRateReceivesSpeed
TapTap SendFree1328.19₩664,097Under 3 minutes (95% of transfers)
InstaReM$5.501326.45₩655,9301-3 business days
Remitly$6.951322.56₩652,089Minutes to 3-5 days
Wise$8.401318.67₩648,2591-2 business days
Western Union$9.501315.72₩645,3621 business day
XE Money Transfer$29.281334.77₩628,3011-4 business days
Send $1,000
ProviderFeeReceives
TapTap Send
1328.19 · Under 3 minutes (95% of transfers)
InstaReM
1326.45 · 1-3 business days
Remitly
1322.56 · Minutes to 3-5 days
XE Money Transfer
1334.77 · 1-4 business days
Wise
1318.67 · 1-2 business days
Western Union
1315.72 · 1 business day
ProviderFeeRateReceivesSpeed
TapTap SendFree1328.19₩1,328,195Under 3 minutes (95% of transfers)
InstaReM$11.001326.45₩1,311,8601-3 business days
Remitly$13.901322.56₩1,304,178Minutes to 3-5 days
XE Money Transfer$29.281334.77₩1,295,6851-4 business days
Wise$16.801318.67₩1,296,5191-2 business days
Western Union$19.001315.72₩1,290,7231 business day
Send $5,000
ProviderFeeReceives
Wise
1342.55 · Instant to 2 days
TapTap Send
1328.19 · Under 3 minutes (95% of transfers)
XE Money Transfer
1334.77 · 1-4 business days
Remitly
1331.55 · Minutes to 3-5 days
CurrencyFair
1328.19 · 1-2 business days
InstaReM
1326.45 · 1-3 business days
ProviderFeeRateReceivesSpeed
Wise$29.551342.55₩6,673,057Instant to 2 days
TapTap SendFree1328.19₩6,640,975Under 3 minutes (95% of transfers)
XE Money Transfer$29.281334.77₩6,634,7521-4 business days
Remitly$41.721331.55₩6,602,187Minutes to 3-5 days
CurrencyFair$58.061328.19₩6,563,8601-2 business days
InstaReM$55.001326.45₩6,559,3021-3 business days
How much does it cost to send money from to South Korea?
Transfer fees to South Korea vary by provider and how you pay. Specialist services charge ₩0–10 per transfer, while banks charge $25–50 plus a 2–5% exchange rate markup. The exchange rate markup is usually the bigger cost — always compare the total KRW your recipient receives.
Understanding the total cost
The true cost of a money transfer has two components:
Transfer fee
The upfront charge — typically $0–$10 with specialist providers.
Exchange rate markup
The hidden cost — the difference between the provider's rate and the mid-market rate (1341.2046).
Ways to send money to South Korea
Choose how you want to pay for your transfer. Each payment method has different costs and speeds.
Bank deposit is the standard delivery method for transfers to South Korea. Cash pickup is available through international providers like Western Union and MoneyGram.
Debit Card
Medium costSpeed: Minutes to hours
Fast and convenient — small card processing fee applies
Bank Transfer
Low costSpeed: 1–3 business days
Usually the cheapest option — lowest fees and no card processing charges
Google Pay
Medium costSpeed: Minutes to hours
Convenient mobile payment — linked card fees apply
Apple Pay
Medium costSpeed: Minutes to hours
Convenient mobile payment — linked card fees apply
Credit Card
Higher costSpeed: Minutes to hours
Fastest option but highest fees — card issuer may charge cash advance fee
Cash
Medium costSpeed: Varies
Pay cash at an agent location — available at select providers
How can my recipient receive money in South Korea?
Check these receiving options with the provider. Availability depends on the sending country, recipient and transfer conditions.
Bank Deposit
1–3 business days
Direct transfer to bank accounts in South Korea.
WiseRemitlyWorldRemitWestern Union
Cash Pickup
Minutes
Collect cash from agent locations in South Korea.
Western UnionMoneyGram
What are the transfer limits and regulations for South Korea?
Important rules and requirements to know before sending money to South Korea.
Documentation you may need
- Government-issued photo ID (passport, driver's license, or state ID)
- Proof of address may be required for first-time transfers
Important things to know
- Check your provider's specific limits and requirements for transfers to South Korea.
- Transfers over $10,000 (or equivalent) may trigger reporting requirements in your sending country.
How long does it take to send money to South Korea?
Most transfers to South Korea arrive within 1–2 business days with specialist providers. Mobile wallet and cash pickup options are often available within minutes. Bank deposits typically take 1–3 business days.
Delivery times shown here are published by the providers and payment schemes. We do not measure when transfers actually arrive, so treat them as estimates and confirm the time with your provider before you send.
FastExpress delivery
- TapTap SendUnder 3 minutes (95% of transfers)
- RemitlyMinutes to 3-5 days
Standard delivery
- InstaReM1-3 business days
- XE Money Transfer1-4 business days
- Wise1-2 business days
- Western Union1 business day
- CurrencyFair1-2 business days
25/ 100
Only one provider here
SendScoreToday's best rate is -2.63% vs the 30-day average, near the 90-day low. Rates are falling — -1.93% week on week. Only one provider quotes this corridor, so this is a single-provider reading rather than a comparison.
- 40%Position in the 90-day range — near the 90-day low
- 25%Versus the 30-day average — -2.63% vs the 30-day average
- 15%This week versus last — falling — -1.93% week on week
Measured from 122 days of our own recorded provider rates for USD→KRW
USD to KRW Exchange Rate History
Daily best exchange rates from top providers over the last 122 days. Rates shown are for sending $100.
| Date | TapTap Send | __mid Market__ |
|---|---|---|
| Trend | ||
| Sep 12 | 1328.1700✓ | 1328.1700✓ |
| Sep 11 | 1326.7500✓ | 1326.7500✓ |
| Sep 10 | 1336.0500✓ | 1336.0500✓ |
| Sep 9 | 1325.9600✓ | 1325.9600✓ |
| Sep 8 | 1327.3000✓ | 1327.3000✓ |
| Sep 7 | 1331.6700✓ | 1331.6700✓ |
| Sep 6 | 1332.6300✓ | 1332.6300✓ |
| Sep 5 | 1332.5100✓ | 1332.5100✓ |
| Sep 4 | 1345.1000✓ | 1345.1000✓ |
| Sep 3 | 1349.3600✓ | 1349.3600✓ |
| Sep 2 | 1345.5500✓ | 1345.5500✓ |
| Sep 1 | 1363.5900✓ | 1363.5900✓ |
| Aug 31 | 1363.5900✓ | 1363.5900✓ |
| Aug 30 | 1363.4500✓ | 1363.4500✓ |
| Aug 29 | 1363.7900✓ | 1363.7900✓ |
| Aug 28 | 1363.2900✓ | 1363.2900✓ |
| Aug 27 | 1367.5500✓ | 1367.5500✓ |
| Aug 26 | 1368.4500✓ | 1368.4500✓ |
| Aug 25 | 1368.6400✓ | 1368.6400✓ |
| Aug 24 | 1370.1900✓ | 1370.1900✓ |
| Aug 23 | 1372.5800✓ | 1372.5800✓ |
| Aug 22 | 1372.3800✓ | 1372.3800✓ |
| Aug 21 | 1377.7600✓ | 1377.7600✓ |
| Aug 20 | 1373.7700✓ | 1373.7700✓ |
| Aug 19 | 1398.3700✓ | 1398.3700✓ |
| Aug 18 | 1402.4000✓ | 1402.4000✓ |
| Aug 17 | 1402.0500✓ | 1402.0500✓ |
| Aug 16 | 1402.3100✓ | 1402.3100✓ |
| Aug 15 | 1402.3100✓ | 1402.3100✓ |
| Aug 14 | 1402.0100✓ | 1402.0100✓ |
| Aug 13 | 1404.4300✓ | 1404.4300✓ |
| Aug 12 | 1521.2200✓ | 1521.2200✓ |
| Aug 11 | 1521.2200✓ | 1521.2200✓ |
| Aug 10 | 1521.2200✓ | 1521.2200✓ |
| Aug 9 | 1521.2200✓ | 1521.2200✓ |
| Aug 8 | 1521.2200✓ | 1521.2200✓ |
| Aug 7 | 1521.2200✓ | 1521.2200✓ |
| Aug 6 | 1521.2200✓ | 1521.2200✓ |
| Aug 5 | 1521.2200✓ | 1521.2200✓ |
| Aug 4 | 1521.2200✓ | 1521.2200✓ |
| Aug 3 | 1521.2200✓ | 1521.2200✓ |
| Aug 2 | 1521.2200✓ | 1521.2200✓ |
| Aug 1 | 1521.2200✓ | 1521.2200✓ |
| Jul 31 | 1521.2200✓ | 1521.2200✓ |
| Jul 30 | 1521.2200✓ | 1521.2200✓ |
| Jul 29 | 1521.2200✓ | 1521.2200✓ |
| Jul 28 | 1521.2200✓ | 1521.2200✓ |
| Jul 27 | 1521.2200✓ | 1521.2200✓ |
| Jul 26 | 1521.2200✓ | 1521.2200✓ |
| Jul 25 | 1521.2200✓ | 1521.2200✓ |
| Jul 24 | 1521.2200✓ | 1521.2200✓ |
| Jul 23 | 1521.2200✓ | 1521.2200✓ |
| Jul 22 | 1521.2200✓ | 1521.2200✓ |
| Jul 21 | 1521.2200✓ | 1521.2200✓ |
| Jul 20 | 1521.2200✓ | 1521.2200✓ |
| Jul 19 | 1521.2200✓ | 1521.2200✓ |
| Jul 18 | 1521.2200✓ | 1521.2200✓ |
| Jul 17 | 1521.2200✓ | 1521.2200✓ |
| Jul 16 | 1521.2200✓ | 1521.2200✓ |
| Jul 15 | 1521.2200✓ | 1521.2200✓ |
| Jul 14 | 1521.2200✓ | 1521.2200✓ |
| Jul 13 | 1521.2200✓ | 1521.2200✓ |
| Jul 12 | 1521.2200✓ | 1521.2200✓ |
| Jul 11 | 1521.2200✓ | 1521.2200✓ |
| Jul 10 | 1521.2200✓ | 1521.2200✓ |
| Jul 9 | 1521.2200✓ | 1521.2200✓ |
| Jul 8 | 1521.2200✓ | 1521.2200✓ |
| Jul 7 | 1521.2200✓ | 1521.2200✓ |
| Jul 6 | 1521.2200✓ | 1521.2200✓ |
| Jul 5 | 1521.2200✓ | 1521.2200✓ |
| Jul 4 | 1521.2200✓ | 1521.2200✓ |
| Jul 3 | 1521.2200✓ | 1521.2200✓ |
| Jul 2 | 1539.6100✓ | 1539.6100✓ |
| Jul 1 | 1530.6300✓ | 1530.6300✓ |
| Jun 30 | 1526.9100✓ | 1526.9100✓ |
| Jun 29 | 1519.9400✓ | 1519.9400✓ |
| Jun 28 | 1519.9400✓ | 1519.9400✓ |
| Jun 27 | 1520.2000✓ | 1520.2000✓ |
| Jun 26 | 1529.1900✓ | 1529.1900✓ |
| Jun 25 | 1531.2900✓ | 1531.2900✓ |
| Jun 24 | 1514.8800✓ | 1514.8800✓ |
| Jun 23 | 1518.3600✓ | 1518.3600✓ |
| Jun 22 | 1515.4500✓ | 1515.4500✓ |
| Jun 21 | 1512.7300✓ | 1512.7300✓ |
| Jun 20 | 1512.3700✓ | 1512.3700✓ |
| Jun 19 | 1519.6800✓ | 1519.6800✓ |
| Jun 18 | 1504.7100✓ | 1504.7100✓ |
| Jun 17 | 1491.2100✓ | 1491.2100✓ |
| Jun 16 | 1491.2100✓ | 1491.2100✓ |
| Jun 15 | 1491.2100✓ | 1491.2100✓ |
| Jun 14 | 1502.9600✓ | 1502.9600✓ |
| Jun 13 | 1502.9600✓ | 1502.9600✓ |
| Jun 12 | 1502.9600✓ | 1502.9600✓ |
| Jun 11 | 1510.1800✓ | 1510.1800✓ |
| Jun 10 | 1510.1800✓ | 1510.1800✓ |
| Jun 9 | 1513.4700✓ | 1513.4700✓ |
| Jun 8 | 1543.8600✓ | 1543.8600✓ |
| Jun 7 | 1543.6800✓ | 1543.6800✓ |
| Jun 6 | 1543.7700✓ | 1543.7700✓ |
| Jun 5 | 1517.6900✓ | 1517.6900✓ |
| Jun 4 | 1516.3900✓ | 1516.3900✓ |
| Jun 3 | 1500.2400✓ | 1500.2400✓ |
| Jun 2 | 1496.5900✓ | 1496.5900✓ |
| Jun 1 | 1494.6400✓ | 1494.6400✓ |
| May 31 | 1492.3500✓ | 1492.3500✓ |
| May 30 | 1492.3900✓ | 1492.3900✓ |
| May 29 | 1484.0600✓ | 1484.0600✓ |
| May 28 | 1485.4000✓ | 1485.4000✓ |
| May 27 | 1491.6900✓ | 1491.6900✓ |
| May 26 | 1497.4600✓ | 1497.4600✓ |
| May 25 | 1505.3100✓ | 1505.3100✓ |
| May 24 | 1505.1700✓ | 1505.1700✓ |
| May 23 | 1505.6100✓ | 1505.6100✓ |
| May 22 | 1492.7200✓ | 1492.7200✓ |
| May 21 | 1488.9200✓ | 1488.9200✓ |
| May 20 | 1491.8600✓ | 1491.8600✓ |
| May 19 | 1473.3900✓ | 1473.3900✓ |
| May 18 | 1486.3200✓ | 1486.3200✓ |
| May 17 | 1482.9000✓ | 1482.9000✓ |
| May 16 | 1482.6500✓ | 1482.6500✓ |
| May 15 | 1484.0600✓ | 1484.0600✓ |
| May 14 | 1477.0100✓ | 1477.0100✓ |
Frequently asked questions
Common questions about sending money from to South Korea
What is the cheapest way to send money to South Korea?
Wise and Remitly offer the best KRW rates for USD-to-KRW transfers. For transfers from Japan, Wise Japan is highly competitive for JPY-to-KRW. Given KRW volatility, compare the total KRW received at the time of transfer — not historical averages. Rate differences between providers can be 1–3%.
What bank details do I need to send money to South Korea?
You need the recipient's account number and the bank's SWIFT code. Key SWIFT codes: KB Kookmin (CZNBKRSE), Shinhan (SHBKKRSE), Hana (HNBNKRSE), Woori (HVBKKRSE), IBK (IBKOKRSE). South Korea does not use IBAN. Account numbers are typically 11–14 digits depending on the bank.
How long does a transfer to South Korea take?
Wise typically delivers to Korean bank accounts within 1–2 business days. Same-day delivery is possible for transfers sent early in the day. Korean domestic payment systems process incoming SWIFT credits quickly — most major banks credit within a few hours of SWIFT receipt during business hours.
Is money received from abroad taxed in South Korea?
Personal remittances and gifts from family abroad are generally not taxed in South Korea. Gift tax applies to gifts above KRW 50 million (~$38,000) from immediate family, and KRW 10 million from others — but this is a recipient-side Korean gift tax, not a transfer tax. Regular family support transfers well below these thresholds are not subject to tax.
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