What is Direct Remittance Service?
- This service allows you to automatically send money to pre-registered overseas accounts by making deposits into remittance account
(Direct Account).
How to Use Direct Remittance Service
- Open an Account
- Deposit Money into Account
- Send Money Overseas!
Remittance Limits
- Foreigners can remit up to USD 50,000 per year
※ Additional remittance may be permitted by submitting proof of salary
Benefits
- 30% discount on remittance fees
(Fees waivered when remitting CNY) - 50% discount on f/x rates (USD/JPY/EUR)
30% discount on f/x rates (Other currencies)
Applicable Currencies (Remittance Hours and Applied Rate)
| General Currencies* | FX Currencies** | Remittance Hours and Applied Rate |
|---|---|---|
| 9 A.M. ~ 6 P.M. | 9 A.M. ~ 4:30 P.M. | Remittance is automatically requested when money is deposited into the account (Rate at deposit is applied) |
| 6 P.M. ~ 9 A.M. the next day [Weekends and Holidays] |
4:30 P.M. ~ 9 A.M. the next day [Weekends and Holidays] |
Remittance is requested on the next closest business day (Rate at 9:20 A.M. on the day of remittance request is applied) |
- *General Currencies : USD, JPY, EUR, CAD, GBP, CHF, HKD, THB, SEK, AUD, DKK, NOK, SGD, NZD, IDR, PHP
- **FX Currencies : CNY, INR, TWD, BRL, MYR, LKR, PEN, PKR, TRY, CZK, KZT, NPR
Way to Use Direct Remittance Service
- You can receive your salary, Samsung Insurance Policy for Departure Guarantee (severance pay), National Pension to Direct Remittance Account!
- Money is automatically sent to overseas accounts when your Deposit, pension or insurance is deposited
- Samsung Insurance Policy for Departure Guarantee (severance pay), return cost insurance, refund for National Pension can be received on the Direct Remittance Account!
- Before departure, register your insurance and severance pay to be deposited to Direct Account
- Deposit money to Direct Account after departure
- Money is automatically sent to your home country
- The money transfer amount is available for international wire transfer ONLY. If the balance exceeds KRW 100,000, it is immediately transferred to the agreed international bank account.
- The bank deposit is protected by the Korea Deposit Insurance Corporation (KDIC) in accordance with the Deposit Protection Act. The KDIC insures deposits of up to KRW 50 million, including principal and interest, per depositor per institution. The deposits with principal and interest exceeding KRW 50 million will NOT be protected.
- For more information about the said DIRECT international Wire Transfer Service, visit the local branch of Woori Bank or call us at 1599-5000 (1599-2288 for foreigners ONLY).
