Payments to KRW
|TransferWise Fee||1.5% (or 3750 KRW for payments under 250,000 KRW)||When sending from currencies where the fee would normally be 0.5%, the fee is instead 1.5%.
For larger business transfers, the fee on the amount above £3,000/€4,000/$4,000/A$6,000 is reduced to 1% (for transfers from GBP, EUR, USD, and AUD only).
|Delivery time*||1-2 working hours||*After payout. Please keep in mind that TransferWise can take up to two working days to convert your funds from receiving the deposit|
|Maximum amount (per transfer)||For personal transfers*||*Korean regulations limit the amounts TransferWise can send to individual recipients to 2,000 USD (or equivalent) per transfer and 20,000 USD (or equivalent) per year to KRW.
These limits do not apply to business transfers. The limits per transfer when sending to a business will depend upon the currency that you are sending from.
|Countries we can send to||South Korea only|
|Additional Receiving Banking Fees||None|
|Recipient's Full Name||Yes||When sending to individuals, please include first name and surname|
|Account Number||Yes||These should be between 11 and 16 digits. Some banks allow customers to use their cell phone number as their bank account number, and we can also accept this.|
|Bank Name/Code||Yes||This can be selected from a drop-down menu.|
|Payment Purpose||Yes||You'll need to select the purpose for your KRW transfer from a drop-down menu.|
|Amount Lock Transfers||Yes||
The currency you're sending from must also be able to send fixed amounts.