Send money to South Korea: Compare KRW rates by provider
XE Money Transfer
Rate 1329.5618 · Fee free
You send
$1,000
Estimated receipt
₩1,329,562
₩31,700 more than the lowest estimate · 0.22% markup vs mid-market
Affiliate link · No extra cost to you
Quick answer: XE Money Transfer ranks first of 9 for 1,000 USD → KRW: 1,329,561.82 KRW estimated. 31,672.53 KRW separates first from last.
Latest pricing observation: . Oldest observation used: . Quotes are kept per USD→KRW pair, not per country, so confirm the provider sends from your country before you commit. Methodology.
What is the cheapest way to send USD to KRW?
Sending $1,000 to South Korea, ranked by estimated payout.
Source: our collected quotes
XE Money Transfer
1-4 business days
Best value₩1,329,561.82
recipient gets
Remitly
Minutes to 3-5 days
₩1,326,896.83
recipient gets
TapTap Send
Under 3 minutes (95% of transfers)
₩1,323,432.35
recipient gets
TapTap Send
1323.4323
Free
₩1,323,432.35
Send
InstaReM
1-3 business days
₩1,320,634.11
recipient gets
CurrencyFair
1-2 business days
₩1,316,413.31
recipient gets
Xoom (PayPal)
Minutes to 3 days
Effectively tied · rated 4.6
₩1,305,177.19
recipient gets
Xoom (PayPal)
Effectively tied · rated 4.6
1305.1772
Free
₩1,305,177.19
Send
Western Union
1 business day
₩1,306,109.93
recipient gets
Estimated payout difference: ₩31,672.53 between first and last on $1,000.
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?
XE Money Transfer
4.5Exchange rate
1329.5618
Fee
Free
Recipient gets
₩1,329,561.82
Speed
1-4 business days
Crypto & stablecoin routes for USD → KRW
Each is a fiat on-ramp → blockchain → local cash-out, not a one-tap transfer. All-in cost below.
UpbitBeats mid-market
Coinbase → Stellar (USDC) → Upbit · ~5 seconds
1,352,521 KRW
0.81% rebate all-in
+
UpbitBeats mid-market
Coinbase → Stellar (USDC) → Upbit · ~5 seconds
1,352,521 KRW
0.81% 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, collected every 6 hours. Not financial advice.
Guides, fees & how it works
Which provider suits each USD→KRW transfer?
XE Money Transfer currently delivers the most KRW on this route, while Remitly is the fastest.
Cheapest transfer
XE Money Transfer
Delivers the most KRW for your money
Fastest transfer
Remitly
Delivers in Minutes to 3-5 days
Cash pickup
Remitly
Widest cash pickup network
Bank transfer
XE Money Transfer
Best rate for bank deposit to South Korea
What you need to send money to South Korea
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)
Transfer examples: USD to KRW
Send $500
| Provider | Fee | Rate | Receives | Speed |
|---|---|---|---|---|
| XE Money Transfer1329.56 · 1-4 business days | Free | 1329.56 | ₩664,781 | 1-4 business days |
| Remitly1326.90 · Minutes to 3-5 days | Free | 1326.90 | ₩663,448 | Minutes to 3-5 days |
| TapTap Send1323.43 · Under 3 minutes (95% of transfers) | Free | 1323.43 | ₩661,716 | Under 3 minutes (95% of transfers) |
| OFX1321.30 · 1-3 business days | Free | 1321.30 | ₩660,650 | 1-3 business days |
| InstaReM1320.63 · 1-3 business days | Free | 1320.63 | ₩660,317 | 1-3 business days |
| CurrencyFair1321.70 · 1-2 business days | $4.00 | 1321.70 | ₩655,563 | 1-2 business days |
Send $1,000
| Provider | Fee | Rate | Receives | Speed |
|---|---|---|---|---|
| XE Money Transfer1329.56 · 1-4 business days | Free | 1329.56 | ₩1,329,562 | 1-4 business days |
| Remitly1326.90 · Minutes to 3-5 days | Free | 1326.90 | ₩1,326,897 | Minutes to 3-5 days |
| TapTap Send1323.43 · Under 3 minutes (95% of transfers) | Free | 1323.43 | ₩1,323,432 | Under 3 minutes (95% of transfers) |
| OFX1321.30 · 1-3 business days | Free | 1321.30 | ₩1,321,300 | 1-3 business days |
| InstaReM1320.63 · 1-3 business days | Free | 1320.63 | ₩1,320,634 | 1-3 business days |
| CurrencyFair1321.70 · 1-2 business days | $4.00 | 1321.70 | ₩1,316,413 | 1-2 business days |
Send $5,000
| Provider | Fee | Rate | Receives | Speed |
|---|---|---|---|---|
| XE Money Transfer1329.56 · 1-4 business days | Free | 1329.56 | ₩6,647,809 | 1-4 business days |
| Wise1337.42 · Instant to 2 days | $29.56 | 1337.42 | ₩6,647,583 | Instant to 2 days |
| Remitly1326.90 · Minutes to 3-5 days | Free | 1326.90 | ₩6,634,484 | Minutes to 3-5 days |
| TapTap Send1323.43 · Under 3 minutes (95% of transfers) | Free | 1323.43 | ₩6,617,162 | Under 3 minutes (95% of transfers) |
| CurrencyFair1321.70 · 1-2 business days | $4.00 | 1321.70 | ₩6,603,214 | 1-2 business days |
| OFX1321.30 · 1-3 business days | Free | 1321.30 | ₩6,606,502 | 1-3 business days |
How much does it cost to send money to South Korea?
Of the 9 estimates we hold for $1,000 USD to KRW, 7 charge no transfer fee and 2 charge between $4.00 and $29.56. Their exchange rates sit 0.00% to 2.05% above the mid-market rate (median 0.81%), a spread worth 27,316 KRW on this amount.
A volatile pair: 16.5 points apart; today is only "low" — waiting may pay. Best payout day TapTap Send (8 June 2026), worst TapTap Send (24 October 2026).
How can my recipient receive money in South Korea?
Bank Deposit
Direct transfer to bank accounts in South Korea.
Cash Pickup
Collect cash from agent locations in South Korea.
How long does it take to send money to South Korea?
4 of the 9 providers quoting USD to KRW advertise delivery within minutes (Remitly, TapTap Send, Xoom (PayPal)); 5 quote longer, such as XE Money Transfer at 1-4 business days on USD to KRW.
Provider-stated speeds for South Korea, not our measurement.
- RemitlyMinutes to 3-5 days
- TapTap SendUnder 3 minutes (95% of transfers)
- Xoom (PayPal)Minutes to 3 days
- WiseInstant to 2 days
- XE Money Transfer1-4 business days
- OFX1-3 business days
- InstaReM1-3 business days
- CurrencyFair1-2 business days
- Western Union1 business day
Only one provider here
SendScoreBest rate -0.28% vs the 30-day average, 14% up the 90-day range. Rates are improving — +1.00% week on week. One provider only, so no comparison.
- 40%14% up the 90-day range
- 25%-0.28% vs the 30-day average
- 15%improving — +1.00% week on week
USD→KRW: 143 days of our recorded provider rates
USD to KRW Exchange Rate History
Per 100 USD sent, 143 days.
| Date | TapTap Send | __mid Market__ |
|---|---|---|
| Trend | ||
| Nov 12 | 1323.4800 | 1332.5413✓ |
| Nov 11 | 1323.2500 | 1333.6525✓ |
| Nov 10 | 1328.9200 | 1344.5164✓ |
| Nov 9 | 1333.6100 | 1352.4085✓ |
| Nov 8 | 1350.1600 | 1364.3492✓ |
| Nov 7 | 1350.1600 | 1363.9358✓ |
| Nov 6 | 1350.7200 | 1361.3384✓ |
| Nov 5 | 1343.9700✓ | 1343.9700✓ |
| Nov 4 | 1327.4600 | 1340.4625✓ |
| Nov 3 | 1331.5200 | 1343.0704✓ |
| Nov 2 | 1328.2800 | 1342.5106✓ |
| Nov 1 | 1320.0900 | 1335.3126✓ |
| Oct 31 | 1320.0900 | 1333.5589✓ |
| Oct 30 | 1320.1800 | 1336.3498✓ |
| Oct 29 | 1325.9100 | 1336.1987✓ |
| Oct 28 | 1329.5400 | 1342.1563✓ |
| Oct 27 | 1313.5900 | 1324.0500✓ |
| Oct 26 | 1312.4200 | 1321.2725✓ |
| Oct 25 | 1310.5200 | 1324.1588✓ |
| Oct 24 | 1310.2900 | 1323.3916✓ |
| Oct 23 | 1310.6600 | 1324.0327✓ |
| Oct 15 | 1331.3000 | 1348.4250✓ |
| Oct 14 | 1328.3100 | 1337.6737✓ |
| Oct 13 | 1328.0600 | 1335.1362✓ |
| Oct 12 | 1319.6900 | 1335.7186✓ |
| Oct 11 | 1327.4700 | 1340.3372✓ |
| Oct 10 | 1327.0400 | 1340.3091✓ |
| Oct 9 | 1327.0400 | 1341.2573✓ |
| Oct 8 | 1330.1000 | 1337.5905✓ |
| Oct 7 | 1326.6500 | 1338.5632✓ |
| Oct 6 | 1323.7400 | 1343.7621✓ |
| Oct 5 | 1330.5400 | 1346.7004✓ |
| Oct 4 | 1329.7600 | 1343.1919✓ |
| Oct 3 | 1330.0700 | 1342.9624✓ |
| Oct 2 | 1330.3900 | 1356.5718✓ |
| Oct 1 | 1347.7000 | 1357.7473✓ |
| Sep 30 | 1344.3000 | 1355.1411✓ |
| Sep 29 | 1339.3600 | 1357.9641✓ |
| Sep 28 | 1347.1600 | 1358.0242✓ |
| Sep 27 | 1341.0600 | 1355.0167✓ |
| Sep 26 | 1341.6300 | 1354.7713✓ |
| Sep 25 | 1343.0600 | 1361.3014✓ |
| Sep 24 | 1355.1100 | 1371.5688✓ |
| Sep 23 | 1352.8200✓ | 1352.8200✓ |
| Sep 22 | 1342.8600 | 1358.3451✓ |
| Sep 21 | 1362.3000 | 1383.7481✓ |
| Sep 20 | 1372.1800 | 1386.1804✓ |
| Sep 19 | 1372.1800 | 1386.4605✓ |
| Sep 18 | 1371.6500 | 1385.5051✓ |
| Sep 17 | 1367.7300 | 1380.2906✓ |
| Sep 16 | 1354.2300 | 1364.6010✓ |
| Sep 15 | 1348.7500 | 1354.0307✓ |
| Sep 14 | 1332.2200 | 1344.3189✓ |
| Sep 13 | 1328.1700 | 1341.1794✓ |
| Sep 12 | 1328.0600 | 1341.0684✓ |
| Sep 11 | 1326.7500 | 1345.0426✓ |
| Sep 10 | 1336.0500 | 1340.2046✓ |
| Sep 9 | 1325.9600 | 1338.2721✓ |
| Sep 8 | 1327.3000 | 1340.1656✓ |
| Sep 7 | 1331.6700 | 1345.9369✓ |
| Sep 6 | 1332.6300 | 1346.2269✓ |
| Sep 5 | 1332.5100 | 1345.4261✓ |
| Sep 4 | 1345.1000 | 1358.0010✓ |
| Sep 3 | 1349.3600 | 1358.7353✓ |
| Sep 2 | 1345.5500 | 1358.5925✓ |
| Sep 1 | 1363.5900 | 1375.1412✓ |
| Aug 31 | 1363.5900 | 1375.1412✓ |
| Aug 30 | 1363.4500 | 1374.3070✓ |
| Aug 29 | 1363.7900 | 1376.8703✓ |
| Aug 28 | 1363.2900 | 1372.6238✓ |
| Aug 27 | 1367.5500 | 1380.2483✓ |
| Aug 26 | 1368.4500 | 1383.9502✓ |
| Aug 25 | 1368.6400 | 1381.9063✓ |
| Aug 24 | 1370.1900 | 1382.2153✓ |
| Aug 23 | 1372.5800 | 1386.1644✓ |
| Aug 22 | 1372.3800 | 1385.9624✓ |
| Aug 21 | 1377.7600 | 1385.1010✓ |
| Aug 20 | 1373.7700 | 1388.9091✓ |
| Aug 19 | 1398.3700 | 1408.5113✓ |
| Aug 18 | 1402.4000 | 1412.0016✓ |
| Aug 17 | 1402.0500 | 1415.3543✓ |
| Aug 16 | 1402.3100 | 1414.1892✓ |
| Aug 15 | 1402.3100 | 1416.6178✓ |
| Aug 14 | 1402.0100 | 1416.7441✓ |
| Aug 13 | 1404.4300 | 1415.1854✓ |
| Jul 13 | 1521.2200✓ | 1521.2200✓ |
| Jul 10 | 1521.2200✓ | 1521.2200✓ |
| Jul 8 | 1521.2200✓ | 1521.2200✓ |
| Jul 7 | 1521.2200 | 1522.7427✓ |
| Jul 6 | 1521.2200 | 1532.8698✓ |
| Jul 5 | 1521.2200 | 1527.3293✓ |
| Jul 4 | 1521.2200 | 1527.1760✓ |
| Jul 3 | 1521.2200 | 1544.0723✓ |
| Jul 2 | 1539.6100 | 1555.3187✓ |
| Jul 1 | 1530.6300 | 1551.8909✓ |
| Jun 30 | 1526.9100 | 1547.9623✓ |
| Jun 29 | 1519.9400 | 1536.0687✓ |
| Jun 28 | 1519.9400 | 1536.0687✓ |
| Jun 27 | 1520.2000 | 1535.7107✓ |
| Jun 26 | 1529.1900 | 1548.3900✓ |
| Jun 25 | 1531.2900 | 1548.7913✓ |
| Jun 24 | 1514.8800 | 1535.2995✓ |
| Jun 23 | 1518.3600 | 1540.0751✓ |
| Jun 22 | 1515.4500 | 1530.9122✓ |
| Jun 21 | 1512.7300 | 1527.3930✓ |
| Jun 20 | 1512.3700 | 1527.0295✓ |
| Jun 19 | 1519.6800 | 1539.0723✓ |
| Jun 18 | 1504.7100 | 1525.1470✓ |
| Jun 17 | 1491.2100 | 1505.9685✓ |
| Jun 16 | 1491.2100 | 1505.9685✓ |
| Jun 15 | 1491.2100 | 1505.9685✓ |
| Jun 14 | 1502.9600 | 1517.9881✓ |
| Jun 13 | 1502.9600 | 1517.9881✓ |
| Jun 12 | 1502.9600 | 1518.2948✓ |
| Jun 11 | 1510.1800 | 1519.1429✓ |
| Jun 10 | 1510.1800 | 1519.1429✓ |
| Jun 9 | 1513.4700 | 1532.7831✓ |
| Jun 8 | 1543.8600 | 1553.0228✓ |
| Jun 7 | 1543.6800 | 1552.3733✓ |
| Jun 6 | 1543.7700 | 1549.3477✓ |
| Jun 5 | 1517.6900 | 1538.4592✓ |
| Jun 4 | 1516.3900 | 1527.8489✓ |
| Jun 3 | 1500.2400 | 1518.0006✓ |
| Jun 2 | 1496.5900 | 1513.5417✓ |
| Jun 1 | 1494.6400 | 1509.7374✓ |
| May 31 | 1492.3500 | 1507.8812✓ |
| May 30 | 1492.3900 | 1507.9216✓ |
| May 29 | 1484.0600 | 1499.8080✓ |
| May 28 | 1485.4000 | 1504.5072✓ |
| May 27 | 1491.6900 | 1503.5682✓ |
| May 26 | 1497.4600 | 1513.0444✓ |
| May 25 | 1505.3100 | 1510.7487✓ |
| May 24 | 1505.1700 | 1520.2202✓ |
| May 23 | 1505.6100 | 1520.6646✓ |
| May 22 | 1492.7200 | 1508.1026✓ |
| May 21 | 1488.9200 | 1500.7761✓ |
| May 20 | 1491.8600 | 1511.8160✓ |
| May 19 | 1473.3900 | 1498.8708✓ |
| May 18 | 1486.3200 | 1505.5916✓ |
| May 17 | 1482.9000 | 1497.8788✓ |
| May 16 | 1482.6500 | 1498.0802✓ |
| May 15 | 1484.0600 | 1499.0505✓ |
| May 14 | 1477.0100 | 1492.0800✓ |
Frequently asked questions
Common questions about sending money 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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