How to Send Money Internationally from Korea (2026 TransferWise, Bank, WOWPASS Guide)
If you're working, studying, or living in South Korea as a foreigner, chances are you'll need to send money home at some point.
In 2026, international money transfers from Korea are easier than ever — but choosing the right method can save you time and hundreds in fees.
This guide covers:
- 💸 Cheapest ways to send money abroad from Korea
- 🏦 Banks vs fintech (Wise, WOWPASS, Western Union)
- 📋 What documents you need
- 🌐 Best options for expats, students, and remote workers
Let’s find the fastest and most cost-effective solution for you.
1. Can Foreigners Send Money Abroad from Korea in 2026? 🌍
✅ Yes — but there are some conditions based on visa type and bank policies.
Most foreigners can send money internationally if they meet one of the following:
- 🆔 Hold an ARC (Alien Registration Card)
- 📄 Have proof of income (salary slip, tax payment)
- 💳 Use fintech apps with simplified KYC (e.g. Wise, WOWPASS)
⚠️ Tourists without ARC are generally not allowed to make official wire transfers from Korean banks.
💡 Short-term visitors can still use cash remittance options like Western Union or WOWPASS.
2. Top 4 Ways to Send Money Abroad from Korea (2026) 🏆
| Method | Best For | Fees | Speed |
|---|---|---|---|
| Wise (TransferWise) | Most foreigners | ₩3,000~₩7,000 | 1–2 business days |
| KEB Hana / Shinhan Bank | Salary earners with ARC | ₩10,000~₩30,000 | 1–5 business days |
| WOWPASS (Prepaid) | Tourists & short-term stays | ₩5,000 flat | Instant or 24h |
| Western Union / MoneyGram | Cash transfers | ₩7,000~₩30,000 | Minutes to hours |
💡 Wise (formerly TransferWise) is the most popular for digital-savvy foreigners due to transparent fees and exchange rates.
3. How to Use Wise in Korea (2026 Update) 🧠
Wise is a global money transfer app with a strong presence in Korea.
- 🌐 Sign up with passport + ARC
- 🏦 Link your Korean bank account (e.g. KEB, KB, Woori)
- 💱 Enter transfer amount and destination country
- ✅ Confirm exchange rate and pay via bank transfer
💰 Wise usually gives you the best exchange rate with a small fee (usually <1% of total).
⏱️ Most transfers are completed in 1–2 business days.
💡 Supports 50+ currencies and offers mid-market rates — unlike banks.
4. Sending Money via Korean Banks 🏦
You can also wire money abroad using major Korean banks like:
- 📌 KEB Hana (Global banking service)
- 📌 Shinhan Bank (expat-friendly branches)
- 📌 KB Kookmin / Woori Bank (standard remittance)
📝 Required:
- ARC and passport
- Purpose of transfer (study, family support, savings)
- Recipient’s name, address, bank details (SWIFT code)
💸 Fees: ₩10,000 ~ ₩30,000 per transfer ⏱️ Transfer time: 1–5 business days 📉 Hidden exchange rate spreads may apply
⚠️ Forms are often in Korean — ask for English help or visit global branches.
5. WOWPASS & Western Union for Tourists & Short-Term Stays 💳
If you don’t have a Korean bank account or ARC, these are your best options:
- 💳 WOWPASS: Prepaid card with international remittance feature
- 🏤 Western Union / MoneyGram: Send/receive cash from counters
🌐 WOWPASS allows:
- Top-up in KRW → send in USD/EUR/etc.
- Transfers via app or kiosk
- Basic KYC only (passport)
💵 Fees are flat and transfers are usually instant or next-day.
6. How Much Can You Send? Are There Limits? 📏
Yes — Korea has remittance limits depending on your visa and source of income.
- 🔹 With ARC: Up to USD $50,000 per year (with income proof)
- 🔹 Without ARC: Limits vary — usually USD $1,000 per transfer
- 📑 Some banks may request tax payment records or salary statements
💡 To avoid problems, keep transfer amounts below USD $10,000 per transaction and prepare documents in advance.
Conclusion: What's the Best Way to Send Money From Korea in 2026? ✅
Here’s the quick summary:
- 🔹 Use Wise for the best fees + fast service
- 🔹 Use KEB Hana if you earn salary in Korea and have ARC
- 🔹 Use WOWPASS if you’re a tourist or don’t have ARC
Compare fees, exchange rates, and convenience before you send — and always double-check recipient info.
Up next: Where and how to exchange currency in Korea for the best rates (2026 complete guide).
