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Other Considerations

Overseas Remittance via Internet

  • The application form must be filled out in English.
  • The purpose-specific remittance type (transaction not requiring documentation, overseas student, sojourn, remittance of incomed earned in Korea by foreigners/non-residents) must be clearly selected.
  • The English spelling of the recipient name must be accurate, and account number must be stated correctly in Arabian number
  • The name of the account holder and the recipient must match.
  • The name of the bank, branch (or address), country name of the recipient of overseas remittance must be written in the application form.
  • Telephone number or any contact information of the applicant must be written and updated so that CKI can contact in case a problem rises.

Matters to consider when making overseas remittance through the Internet

  • USD remittance to the countries below is restricted.
  • Russia, Cuba, Iran, Sudan, North Korea, Burma (Myanmar), Syria (some banks), Latvija (some banks)
  • Customers will be held liable for any losses from delay, return or rejection of remittance incurred by incorrect information input.
  • FX rate announced at the point of application is applied during banking hours, FX rate announced as final is applied during non-business hours, and FX rate announced as final in the previous business day is applied on Saturday/Sunday/holidays.
  • A customer can make an overseas remittance via internet within the one time/daily transfer limit, and the amount withdrawn from a foreign currency account is converted to Korean won and counted against the daily transfer limit as such.
  • The total transaction amount may not exceed $10,000 after business hours until the start of the next business. day(09:00) if FX exchange is involved in the transcation.
    • Total transation includes FX Exchange/ Transfer/ Deposit & Withdrawal / Open & Close account
  • However, remittance requests made outside of regular business hours(09:00~16:00) on weekdays, or on Sat/Sun and public holidays, will be processed and sent on the next business day. The deposit may be delayed depending on the circumstances of the receiving bank.