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Send money to South Korea
USD
KRW|Updated recentlyMid-market 1539.8395Cheapest todayof 9 providers
TapTap Send
Rate 1521.2074 · Fee free
You send
$1,000
Recipient gets
₩1,521,207
₩133,500 more than the most expensive provider · 1.21% markup vs mid-market
Affiliate link · No extra cost to you
Quick answer: The cheapest way to send money to South Korea in July 2026 is TapTap Send, which delivers 1,521,207.4 KRW on a 1,000 USD transfer with a fee of zero and an exchange rate of 1521.2074. According to SendMoneyCompare's comparison of 9 providers updated every 6 hours, the difference between the cheapest and most expensive provider on this corridor is 133,550 KRW.
Last reviewed: by Awais Imran, Reviews Editor
What is the cheapest way to send USD to KRW?
Sending $1,000 from to South Korea. Sorted by best value — most money received.
Source: SendMoneyCompare · Data updated every 6 hours from live provider APIs
#ProviderRateFeeRecipient gets
Rate 1521.2074·Fee Free·1.21% markup
Best rate 74 of 74 days
↑ 3.0% over 74dAvg: 1511.05 KRW (+0.7% vs avg)Range: 1473.39–1543.86
1
TapTap SendBest value
Under 3 minutes (95% of transfers)1.21% markup
Best rate 74 of 74 days
↑ 3.0% over 74dAvg: 1511.05 KRW (+0.7% vs avg)Range: 1473.39–1543.86
1521.2074
Free
₩1,521,207.40
Rate 1541.2253·Fee $29.33
Rate 1514.8941·Fee $16.20·1.62% markup
Rate 1531.8323·Fee $30.67·0.52% markup
Rate 1530.1385·Fee $40.60·0.63% markup
Rate 1523.0552·Fee $60.11·1.09% markup
Rate 1481.1716·Fee $38.10·3.81% markup
Rate 1520.1295·Fee $69.85·1.28% markup
Rate 1461.7696·Fee $50.70·5.07% markup
Potential savings: Choosing the best provider over the most expensive saves your recipient ₩133,549.52 on a $1,000 transfer.
Some links on this page are affiliate links. We may earn a commission at no extra cost to you. This does not affect our rankings, which are based on real transfer data. 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
1521.2074
Fee
Free
Recipient gets
₩1,521,207.40
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.
Upbit
Coinbase → Stellar (USDC) → Upbit · ~5 seconds
1,510,357 KRW
2.17% all-in
+
Upbit
Coinbase → Stellar (USDC) → Upbit · ~5 seconds
1,510,357 KRW
2.17% 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), Tron (USDT).
Source: CCXT (upbit)
BithumbBitcoin · Lightning
Strike → Lightning Network (BTC) → Bithumb (BTC) · ~1 second
1,505,403 KRW
2.49% all-in
+
BithumbBitcoin · Lightning
Strike → Lightning Network (BTC) → Bithumb (BTC) · ~1 second
1,505,403 KRW
2.49% all-in
- 1Strike USD→BTC: FREE
- 2Lightning Network network: 0.000001 BTC
- 3Bithumb (BTC): 0.75% spread
- 41000 KRW withdrawal fee
Also routable via Lightning Network (BTC), Stellar (USDC), Solana (USDC), Polygon (USDC).
Source: Bithumb REST API
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.
Guides, 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. Most providers verify details instantly.
Step 3
Send & track your transfer
Pay using bank transfer, debit card, or credit card. Track your money in real-time until it arrives — bank deposit typically takes 1–3 business days.
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
1521.21 · Under 3 minutes (95% of transfers)
InstaReM
1514.89 · 1-3 business days
Xoom (PayPal)
1481.17 · Minutes to 3 days
Wise
1541.23 · Instant to 2 days
XE Money Transfer
1531.83 · 1-4 business days
Bank of America
1461.77 · 2-5 business days
ProviderFeeRateReceivesSpeed
TapTap SendFree1521.21₩760,604Under 3 minutes (95% of transfers)
InstaReM$3.241514.89₩752,5391-3 business days
Xoom (PayPal)$7.621481.17₩729,299Minutes to 3 days
Wise$29.331541.23₩725,409Instant to 2 days
XE Money Transfer$30.671531.83₩718,9351-4 business days
Bank of America$10.141461.77₩716,0622-5 business days
Send $1,000
ProviderFeeReceives
TapTap Send
1521.21 · Under 3 minutes (95% of transfers)
Wise
1541.23 · Instant to 2 days
InstaReM
1514.89 · 1-3 business days
XE Money Transfer
1531.83 · 1-4 business days
CurrencyFair
1530.14 · 1-2 business days
Remitly
1523.06 · Minutes to 3-5 days
ProviderFeeRateReceivesSpeed
TapTap SendFree1521.21₩1,521,207Under 3 minutes (95% of transfers)
Wise$29.331541.23₩1,496,021Instant to 2 days
InstaReM$16.201514.89₩1,490,3531-3 business days
XE Money Transfer$30.671531.83₩1,484,8511-4 business days
CurrencyFair$40.601530.14₩1,468,0151-2 business days
Remitly$60.111523.06₩1,431,504Minutes to 3-5 days
Send $5,000
ProviderFeeReceives
Wise
1541.23 · Instant to 2 days
XE Money Transfer
1531.83 · 1-4 business days
TapTap Send
1521.21 · Under 3 minutes (95% of transfers)
CurrencyFair
1530.14 · 1-2 business days
Remitly
1523.06 · Minutes to 3-5 days
OFX
1520.13 · 1-3 business days
ProviderFeeRateReceivesSpeed
Wise$29.331541.23₩7,660,922Instant to 2 days
XE Money Transfer$30.671531.83₩7,612,1801-4 business days
TapTap SendFree1521.21₩7,606,037Under 3 minutes (95% of transfers)
CurrencyFair$40.601530.14₩7,588,5691-2 business days
Remitly$60.111523.06₩7,523,725Minutes to 3-5 days
OFX$69.851520.13₩7,494,4671-3 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 (1539.8395).
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
How can my recipient receive money in South Korea?
Your recipient in South Korea can receive money through these delivery methods. The best option depends on their location and preferences.
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.
FastExpress delivery
- TapTap SendUnder 3 minutes (95% of transfers)
- WiseInstant to 2 days
- RemitlyMinutes to 3-5 days
- Xoom (PayPal)Minutes to 3 days
Standard delivery
- InstaReM1-3 business days
- XE Money Transfer1-4 business days
- CurrencyFair1-2 business days
- OFX1-3 business days
- Bank of America2-5 business days
USD to KRW Exchange Rate History
Daily best exchange rates from top providers over the last 74 days. Rates shown are for sending $100.
| Date | TapTap Send | __mid Market__ |
|---|---|---|
| Trend | ||
| 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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