Here you’ll find answers to the most common questions about South Korean won (KRW) transfers.
You can’t currently send money from KRW.
Sending to KRW
Who can I send KRW to?
You can send KRW to individual and business bank accounts in South Korea. We don't support transfers to virtual accounts.
What information do I need about my recipient?
You’ll need their:
full name in Latin letters
date of birth — this has to match their bank account
email address — our partner PayGate might email your recipient for further identification
phone number — our partner PayGate might text your recipient for further identification. Not needed for business recipients.
11–16 digit bank account number. Some banks let customers use their cell phone number as their bank account number, so you can also use this
bank name/code
reason why you’re sending money. You’ll select this from a dropdown menu
Keep in mind, only Latin letters can be used and the language must be in English.
How much can I send?
Personal
If you're a personal customer and sending to a personal recipient:
You can send up to 6,400,000 KRW per transfer
50,000 USD (or equivalent) per year to an individual
For transfers more than 950,000 KRW, we'll need the recipient’s Korean local phone number so that our partner, PayGate, can verify them.We’ll send them through a Kakao message* or email to complete the verification. PayGate might also send them an email as well.
Business
If you and/or your recipient are a business:
You can send up to 999,999,999 KRW per transfer. There may be limits on the currency you're sending from.
How long does it usually take for the money to arrive?
We’ll always give you an estimate for how long your transfer will take when you set it up.
If you sent less than 950,000 KRW: once Wise receives and converts your money, it usually arrives in your recipient’s bank account on the same working day. Conversion can take up to 2 working days.
If you sent more than 950,000 KRW and your recipient needs to go through verification by Kakao message* or email: it can take up to 2 working days for the transfer to arrive. If your money is taking longer, reach out to the recipient for them to complete verification.
Keep in mind: Due to South Korea regulations, sometimes your recipient still needs to go through verification by Kakao message* or email even if you send less than 950,000 KRW. It can take up to 2 working days for the transfer to arrive. If your money is taking longer, reach out to the recipient for them to complete verification.
*If a recipient is unable to receive Kakao message, it will be sent via SMS