How to Send Money from Korea to Asia
A Local Guide
Sending money from Korea to family, friends, or business partners in Asian countries is something almost every foreign resident ends up needing at some point. Whether you’re supporting relatives back home, paying tuition, or transferring savings, knowing how to do it safely and cost-effectively can save you both time and money.
Korea has modern banking systems and plenty of remittance services but the details matter. Let’s walk through the most common ways to transfer money from Korea to Asia, what you need, and what to expect at each step from a local’s perspective.
Start with Your Bank – Traditional Foreign Exchange Transfers
One of the most classic ways to send money is through your Korean bank. Most major banks here like KEB Hana Bank, Shinhan Bank, KB Kookmin Bank, and Woori Bank support international wire transfers directly from your account.
You’ll typically need:
- Your Alien Registration Card (ARC) and passport
- The recipient’s bank account details (account number, SWIFT/BIC code, bank name)
- The beneficiary’s full name in English
- Sometimes the purpose of transfer
Once you fill out the international remittance form, the bank sends your funds overseas. This method is reliable and official, but it can have higher fees and less favourable exchange rates than online remittance services especially for smaller amounts.
Use International Remittance Services (Apps and Online Transfers)
In recent years, many Korea-based remittance services and global fintech apps have made it easier and often cheaper to send money abroad. These are especially popular for Asian destinations like Vietnam, the Philippines, Indonesia, China, and more.
Here are some common options:
Western Union
Western Union allows transfers online via its website or mobile app, or in person at agent locations throughout Korea. You can send money directly to bank accounts or arrange cash pickup at overseas agent branches. Tracking numbers help both sender and recipient follow the transfer.
moneyOnline (MoneyGram)
MoneyGram’s Korean remittance portal lets you send money to bank accounts or for cash pickup in many Asian countries. You can often send and receive within minutes if you choose cash pickup, and online placement is straightforward.
ReLe Transfer and Utransfer
These Korea-based fintech platforms provide mobile remittance directly from your phone with competitive fees and faster processing times. ReLe supports multiple Asian destinations and offers real-time tracking.
Panda Remit
Another online service that simplifies sending money from Korea to Asia and beyond, often with lower fees than banks because the process is entirely digital.
Each service has its fee structure, exchange rate policy, and destination coverage, so it’s worth comparing before you send — especially if you plan to send money regularly.
Mobile and Fintech Apps: Simple and Cost-Friendly
Many foreign residents rely on remittance apps because they’re easy to use and show fees and exchange rates upfront:
WireBarley, Sentbe, and similar platforms: Often used by expats because they offer transparent fees and competitive rates when sending to Asian countries. (User experiences discussed on expat forums often mention these platforms as cheaper alternatives to traditional bank transfers.)
Bank-linked services like Toss and KakaoBank international remittance: Some local banking apps now include international money transfer functions that are cheaper and easier to use than traditional wire transfers. (For example, Toss has occasionally offered fee waivers for certain countries.)
With these apps, the process generally looks like this:
- Download and install the app
- Verify your identity with your ARC and personal information
- Add the recipient’s bank or pickup details
- Choose amount, currency, and delivery method
- Pay and confirm the transfer then track it in the app
Most apps also provide real-time exchange rates and allow you to see exact costs upfront before you commit.
Cash Pickup vs Bank Account Deposit: What’s Best?
When sending money from Korea to Asia, you often choose between:
Bank Account Deposit
Funds are sent straight into the recipient’s bank account. This is convenient and secure, but the transfer may take 1-5 business days, depending on the partner network and country.
Cash Pickup
Recipient collects cash at a partner location in their country often within minutes after the transfer is processed. This is ideal if the recipient doesn’t have a bank account. Services like Western Union and MoneyGram are strong options here.
Deciding which is better depends on urgency, cost, and the recipient’s situation.
Understanding Fees and Exchange Rates
Remittance services charge in a few ways:
- Fixed or tiered fees: Some services charge a flat fee per transfer; others vary by amount.
- Exchange rate spread: Even when fees are low, the bank or platform’s exchange rate may be less favourable.
- Hidden intermediary fees: In some cases especially with bank wire transfers intermediary banks and destination banks may deduct additional charges.
Apps like ReLe, Utransfer, and online remittance services often show exact fees and rates before you send, which helps you choose the best option for your amount and destination.
Tips for Sending Money from Korea to Asia
1. Compare Costs Before You Send
Don’t just pick the first option you see compare fees, delivery time, and exchange rate across a few services before you confirm. Some apps even provide price estimators.
2. Have Proper Identification Ready
Most services require your ARC and passport information for registration and compliance with foreign exchange laws.
3. Know Your Recipient’s Details
If sending to a bank account, double-check the exact bank name, SWIFT code, and account number mistakes can delay funds.
4. Track Your Transfer
Most reputable services give you tracking numbers or real-time status updates so you and your recipient know when the funds are available.
Closing Thoughts
Sending money from Korea to Asia is easier than it might seem once you understand the options. Whether you prefer the traditional security of your bank, the speed of Western Union/MoneyGram, or the transparency and lower cost of fintech apps, there are ways to make your transfer safe and efficient.
Take a little time to compare services for your specific destination, and you’ll likely find a solution that saves you money and reduces stress the way sending money abroad should be.