How do I send money abroad or receive money from home?

Use a Korean bank (branch or app) or a licensed remittance service. Through your designated bank you can send money up to a yearly limit without proving where it came from; above that, or when sending earnings from work in Korea, you need documents. What to do 1. Designate a foreign exchange bank. It's required for many transfers; your bank will set it up. Bring your ARC (or passport). 2. Have the recipient's details ready: full name, bank, account number and SWIFT code. 3. Sending earnings from work in Korea, or more than the yearly limit? Bring proof of the source, such as payslips or an income statement. Ask your bank for the current limit. 4. Compare the total cost: the transfer fee, the exchange rate and any fees taken by other banks along the way. 5. To receive money from abroad, give the sender your name as it appears on your Korean account, your account number and your bank's SWIFT code. Good to know • Large transfers are reported to the National Tax Service and Korea Customs Service. • Fintech remittance apps can be cheaper, but fees, limits and countries differ by service. • Never send or receive money for someone you don't know; it can be part of a scam. Official sources • Easy-to-Find Practical Law – Financial Transactions (overseas remittance): https://www.easylaw.go.kr/CSM/SubCcfCmd.laf?csmSeq=2500 • Seoul Foreigner Portal – Finance & Banking (Korean): https://global.seoul.go.kr/hmpg/finf/elsi/bank/contPageDetail.do?conts_no=D33ECD427008493587BA03F2F9A86699 Checked by the Verihood team on October 3, 2026. Rules and fees change, so confirm with the official source before you act.