How can foreigners send money to their home country, and what are the limits?

You can send money at a bank counter, with a mobile banking app, or with a fintech remittance app. Bank transfers are limited to US$50,000 per year. If you have income documents, the amount you send must be within your income. Conditions differ by bank and app, so check the limit and fee before you send.

3 Ways to Send Money

• Bank counter: Fill out an application and submit your passport and Alien Registration Card (외국인등록증). You need the recipient's account details (such as the SWIFT code).
• Bank mobile app: Some apps are made for foreigners, such as Hana Bank's Hana EZ.
• Fintech apps: These include Hanpass, SentBe, Western Union, and MoneyGram. With Western Union and MoneyGram, the recipient can also get cash.

Fees and Limits

• Bank overseas transfer fees are usually 5,000 KRW to 15,000 KRW. They differ by bank and destination country.
• Transfers through a bank (remittance and currency exchange) can be up to US$50,000 per year.
• If you have income documents, you must send within your income.
• For fintech apps, the fee, available countries, and limit differ by service. Check directly in the app.

💡 Good to Know

• Holders of F-4 (Overseas Korean) and H-2 (Working Visit) visas, and their families, get a 30% exchange rate discount on overseas transfers at the post office. You can get help on how to use it at the nearest Korean Compatriot Support Center (동포체류지원센터).
• H-2 has been merged into F-4, so check an F-4 change first.
• If someone says they are from the prosecutors, police, or a bank and tells you to send money, it is voice phishing. Report it to the National Police Agency (경찰청) at 112 or the Financial Supervisory Service (금융감독원) at 1332.

Before you send money, check your limit and fees with the bank or app you will use.