Cheapest Ways to Send Money Home from Korea — Fee Comparison 2026

Sending Money Home Is Important

For most foreign workers in Korea, sending money to family is a top priority. But transfer fees and exchange rates can eat into your hard-earned salary. Here's how to save the most.

Option 1: Bank Transfer (은행 송금)

Fee: 5,000 ~ 20,000 KRW per transfer
Speed: 1-3 business days
Best for: Large amounts (over 1,000,000 KRW)
Tip: NH Bank and IBK have special programs for foreign workers with lower fees

Option 2: SBI Remittance / E9Pay

Fee: 3,000 ~ 5,000 KRW
Speed: Same day or next day
Best for: Regular monthly transfers
Available countries: Vietnam, Philippines, Nepal, Indonesia, and more

Option 3: Wise (formerly TransferWise)

Fee: Low (percentage-based, usually 0.5-1%)
Speed: 1-2 business days
Best for: Getting the real exchange rate
Tip: Great for countries where other services are expensive

Option 4: Western Union / MoneyGram

Fee: Higher (10,000+ KRW)
Speed: Within minutes (cash pickup)
Best for: Urgent transfers when recipient doesn't have a bank account

Tips to Save More

Compare rates before every transfer — rates change daily
Send larger amounts less often — one big transfer has lower total fees than many small ones
Avoid airport/convenience store kiosks — they have the worst exchange rates
Check if your employer offers remittance support — some companies help with transfers

Earn more, send more home. Find better-paying jobs at MyKoreaWork.

Practical Tips from the Field

Bank wire transfers charge ₩5,000–25,000 per transaction + poor exchange rates. Only use for large amounts (₩5M+).
SentBe and Wirebarley offer the best rates for amounts under ₩2M — fees as low as ₩0 for first-time users.
Send on Tuesday–Thursday when exchange rates tend to be more stable. Avoid sending right before Korean holidays.
You need your payslip or employment certificate to send more than ₩5M/year through most apps.