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Send money from South Korea to South Africa(KRW → ZAR)
KRW
ZAR|Pricing date unavailableMid-market 0.0120What is the cheapest way to send KRW to ZAR?
Sending ₩1,000,000 from South Korea to South Africa. Ranked by estimated payout, with customer ratings used for closely matched results.
Source: SendMoneyCompare · Estimated payouts from collected pricing and mid-market rates
No provider quotes available for this corridor yet. Try the comparison tool for live results.
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
Sending money from South Korea to South Africa? Compare real-time exchange rates and fees across leading money transfer services. Find the provider that gives you the best ZAR amount today.
South Korea-based expats and immigrants regularly send money to South Africa. The cost difference between providers can be significant — banks typically charge 3–5% in hidden exchange rate markups, while specialist services like Wise, Remitly, and WorldRemit offer rates much closer to the mid-market rate. Our comparison shows the total ZAR received from each provider after all fees and markups.
Guides, fees & how it works
How to send money to South Africa
Sending money to South Africais straightforward with the right provider. Here's how it works in 3 simple steps.
Step 1
Enter your transfer details
Choose how much KRW you want to send, compare providers above, and pick the one offering the best ZAR amount for your transfer to South Africa.
Step 2
Add your recipient
Enter your recipient's details in South Africa — 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 Africa
Make sure you have these details from your recipient before starting your transfer.
Full name
Recipient's full name as registered with their South African bank account
Bank account number
South African bank account number (typically 10–12 digits)
Example: 123456789012
Branch code
6-digit universal branch code (most SA banks now use a universal code)
Example: 250655
Bank name
Name of the recipient's bank (e.g. FNB, Standard Bank, Absa)
ID number
Optional13-digit South African ID number — may be required for compliance
Note: South Africa does not use the IBAN system. Most major South African banks have moved to universal branch codes (one code for the entire bank), simplifying transfers. For example, FNB uses 250655, Standard Bank uses 051001, Absa uses 632005, and Nedbank uses 198765.
Transfer examples: KRW to ZAR
See how much your recipient would get for common transfer amounts.
Send ₩500
No quotes available.
Send ₩1,000
No quotes available.
Send ₩5,000
No quotes available.
How much does it cost to send money from South Korea to South Africa?
Transfer fees from South Korea to South Africa vary by provider. 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 ZAR your recipient receives, not just the advertised fee.
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 (0.0120).
How can my recipient receive money in South Africa?
Check these receiving options with the provider. Availability depends on the sending country, recipient and transfer conditions.
Bank Deposit
1–2 business days
Direct transfer to any South African bank account. The standard and most popular method.
WiseRemitlyWorldRemitWestern Union+1 more
Cash Pickup
Minutes
Collect cash from Shoprite, Pick n Pay, and other retail locations plus dedicated agent points.
Western UnionMoneyGramRia Money Transfer
Mobile Wallet
Minutes
Transfer to e-wallets like FNB eWallet or Standard Bank Instant Money.
WorldRemit
What are the transfer limits and regulations for South Africa?
Important rules and requirements to know before sending money to South Africa.
Regulatory body
South African Reserve Bank (SARB)
Inbound transfer limits
Single discretionary allowance of ZAR 1 million per calendar year; foreign capital allowance of ZAR 10 million with tax clearance
Documentation you may need
- Sender's government-issued photo ID
- Recipient's South African ID or passport
- SARB tax clearance for amounts exceeding ZAR 1 million
- Purpose of payment declaration
Important things to know
- South Africa has strict exchange controls administered by the SARB through authorized dealers (banks).
- All inbound transfers must be declared and a Balance of Payment (BOP) code must be assigned.
- The rand (ZAR) is a freely floating currency and can be volatile — timing transfers matters.
- South Africa's Financial Intelligence Centre Act (FICA) requires identity verification for all financial transactions.
How long does it take to send money to South Africa?
Most transfers from South Korea to South Africa arrive within 1–2 business days with specialist providers. Bank wires take 3–5 business days. Some providers offer instant or same-day delivery to South Africa for a small premium.
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.
Popular banks in South Africa
These are the most commonly used banks for receiving international transfers in South Africa.
BankSWIFT/BICNotes
Standard Bank
SBZAZAJJ
FirstRand Bank (FNB)
FIABORJJ
Absa Bank
ABSAZAJJ
Nedbank
NEDSZAJJ
Capitec Bank
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Investec Bank
IVESZAJJ
Frequently asked questions
Common questions about sending money from South Korea to South Africa
What is the cheapest way to send money from South Korea to South Africa?
The cheapest option changes daily based on exchange rates. Use our comparison table above to see today's rates from every provider. Specialist services like Wise, Remitly, and OFX consistently offer better value than banks.
How long does it take to send money from South Korea to South Africa?
Most specialist providers deliver to South Africa within 1–2 business days. Some offer instant delivery for certain payment methods. Bank wires typically take 3–5 business days.
How much does it cost to send ₩1,000,000 from South Korea to South Africa?
Costs depend on the provider's fee and exchange rate markup. Compare all providers in our table above to see exactly how much ZAR your recipient would receive from a ₩1,000,000 transfer today.
Can I send money from South Korea to South Africa online?
Yes, all the providers we compare support online transfers from South Korea to South Africa. Most also offer mobile apps. You can typically pay by bank transfer, debit card, or credit card.
Is it better to use a bank or a money transfer service to send money to South Africa?
Money transfer services are almost always cheaper. Banks typically charge ₩25–50 per wire plus a 2–5% exchange rate markup. Specialist providers charge ₩0–10 with markups under 1%, saving you significantly on every transfer to South Africa.
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