Remittance Fee Comparison

See exactly how much you save by choosing the right transfer method.
Stop overpaying on international transfers!

Transfer Details

Amount (KRW)

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🏆 Recommended

Why Choose Wise?

✅ Real mid-market exchange rate
✅ Transparent, low fees
✅ Arrives in 1-2 days
✅ First transfer fee-free

Try Wise Free →

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You Save with Wise

₩0

Recipient gets $0 more

Traditional Bank

Average Korean bank

Amount ₩1,000,000

Fees -₩25,000

Rate (with markup) 1,350

Recipient Gets $722

Best Deal 💰

Wise

Fintech transfer platform

Amount ₩1,000,000

Fees -₩4,500

Rate (mid-market) 1,330

Recipient Gets $748

Fee Breakdown

Item	Bank	Wise	Difference
Transfer Fee	₩20,000	₩4,500	-₩15,500
Wire Fee	₩5,000	₩0	-₩5,000
Exchange Markup	~1.5%	~0.5%	Save 1%

Why Banks Charge So Much for International Transfers

Traditional banks make money from international transfers in three hidden ways:

💸 Transfer Fees

₩20,000-50,000 per transfer, regardless of amount

📊 Rate Markup

1-3% hidden in the exchange rate (the biggest cost!)

🏦 Intermediary Fees

$15-50 deducted by correspondent banks

How Wise is Different

✅ Uses the real mid-market exchange rate (no markup)
✅ One transparent fee shown upfront (typically 0.4-0.7%)
✅ No intermediary banks means no surprise deductions
✅ Regulated in Korea and 40+ countries

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Is Wise legal in Korea?

Yes! Wise is fully licensed by the Bank of Korea for foreign exchange transactions. It's a legal and regulated service.

What is the annual transfer limit for foreigners in Korea?

Foreigners can send up to $50,000 USD per year without documentation. Above this, you'll need proof of income. This limit applies to all transfers.

How long does a Wise transfer take?

Most transfers from Korea arrive within 1-2 business days. Bank transfers typically take 3-5 days.

Why are bank transfers more expensive?

Banks charge fixed fees, add exchange rate markups (1-3%), and use correspondent banks that each take a cut. Wise uses the mid-market rate with one transparent fee.