Living in Korea as an expat is exciting—but when it comes to managing your money, especially sending it back home, things can get tricky.
Banks are often slow and expensive. Some apps don’t support foreigners properly. And you might be wondering: what's the easiest, cheapest, and safest way to send money abroad from Korea?
In this updated 2025 guide, we’ve done the research for you. Let’s break down the top services, real costs, and smart tips that actually work for expats.
Table of Contents :
- Why Expats in Korea Need to Send Money Abroad
- Top Money Transfer Services for Expats (2025 Update)
- Fees & Exchange Rates: Which Option Saves You the Most?
- How Fast Is the Transfer? Speed Comparison by Service
- Step-by-Step: How to Send Money from Korea as a Foreigner
- Tips for Sending Large Amounts Legally & Efficiently
- Real Reviews from Expats Living in Korea
- Final Verdict: Best Option for Your Situation
- FAQs: Sending Money Abroad from Korea in 2025
Why Expats in Korea Need to Send Money Abroad
Living in Korea as an expat comes with a lot of exciting moments—but also a few logistical headaches. One of the most common challenges? Sending money overseas.
Whether you're sending money to support your family back home, pay off international loans, invest abroad, or simply manage your finances across countries, having a reliable and affordable remittance option is crucial.
Unfortunately, many Korean banks still make international transfers complicated. You may run into high fees, poor exchange rates, and a lot of paperwork—especially if you don't speak Korean fluently or don’t have a permanent visa.
That’s why expats in Korea are increasingly turning to fintech remittance apps that are easier to use, offer better exchange rates, and support multiple languages. In this guide, we’ll show you the most cost-effective and time-saving ways to send money from Korea in 2025.
Top Money Transfer Services for Expats (2025 Update)
Here’s a look at the most popular and reliable services foreigners use in Korea to send money abroad. We’ll focus on those that are available to non-Korean citizens, support multiple countries, and offer clear fee structures.
🔹 Wise (formerly TransferWise)
-
Supported Countries: 70+ including the US, UK, EU, India, Philippines, and more
-
Pros: Real exchange rate (mid-market), transparent fees, fast transfers (often same-day)
-
Cons: Requires ID verification, not all local banks supported for some currencies
-
Fee Example:
₩1,000,000 to USD ≈ ₩6,600 fee (0.57~0.66%)
Exchange rate: real-time mid-market rate (no markup)
🔹 WireBarley
-
Supported Countries: USA, Australia, Vietnam, China, Philippines, etc.
-
Pros: Often the lowest fee, Korean-language support, expat-friendly interface
-
Cons: Limited country coverage compared to Wise
-
Fee Example:
₩1,000,000 to USD: ₩0 to ₩3,000, depending on promotion and payment method
🔹 Sentbe
-
Supported Countries: US, Philippines, Vietnam, Indonesia, Nepal, etc.
-
Pros: Flat fee (₩5,000), fast transfers within 1 day, ARC holders accepted
-
Cons: Requires Korean phone number and some setup time
-
Fee Example:
Flat ₩5,000 per transaction, regardless of amount
🔹 Korean Banks (KEB Hana, Shinhan, Woori, etc.)
-
Pros: Trusted institutions, can be used for large amounts
-
Cons: High fees (₩30,000+), poor exchange rates, paperwork required
-
Fee Example:
₩1,000,000 to USD:
Transfer fee ₩30,000~₩50,000 + exchange rate margin (up to 2%)
Total cost can exceed ₩50,000
Fees & Exchange Rates: Which Option Saves You the Most?
Let’s break down the actual costs of sending ₩1,000,000 from Korea to a foreign bank account in USD. This includes both transfer fees and exchange rate differences.
| Service | Transfer Fee | Exchange Rate Type | Total Estimated Cost (₩1M) | Notes |
|---|---|---|---|---|
| Wise | ₩6,600 | Mid-market rate (no markup) | ~₩6,600 | Transparent and reliable |
| WireBarley | ₩0 ~ ₩3,000 | Competitive, close to mid-rate | ~₩0 ~ ₩3,000 | Cheapest if your country is supported |
| Sentbe | ₩5,000 (flat) | Standard bank rate | ~₩5,000 | Simple, fast, fixed fee |
| Korean Banks | ₩30,000~₩50,000 | High markup (1.5%~2%) | ~₩50,000+ | Least efficient, only for special needs |
-
For most expats sending money abroad from Korea, Wise and WireBarley offer the best value.
-
WireBarley is usually the cheapest, Wise is most flexible with countries and currencies.
-
Sentbe is a good alternative for certain regions and for those who prefer flat fees.
-
Traditional banks should be your last resort unless you’re sending very large amounts and need documentation.
How Fast Is the Transfer? Speed Comparison by Service
Transfer speed matters—especially when you're sending money in a hurry. Whether it’s for a family emergency or a bill due tomorrow, no one wants to wait days for the funds to arrive.
Here’s how the major services perform in terms of delivery time from Korea:
| Service | Typical Speed | Notes |
|---|---|---|
| Wise | Few minutes to 24 hrs | Fastest when using bank account during business hours |
| WireBarley | 1–2 business days | Some countries support same-day transfers |
| Sentbe | Same-day (often hours) | Transfers often processed within 1–5 hours |
| Korean Banks | 1–3 business days | Slower due to paperwork and SWIFT processing |
-
Transfer during Korean banking hours (weekdays, 9am–4pm)
-
Make sure recipient details are 100% accurate
-
For high-speed transfers, Wise and Sentbe are your best bets
Step-by-Step: How to Send Money from Korea as a Foreigner
You don’t need to be a Korean citizen to use most remittance services—but you do need proper documentation. Here’s how the process typically works:
What You’ll Need:
-
Passport or ARC (Alien Registration Card)
-
Korean bank account in your name
-
Korean mobile number (some apps require SMS verification)
General Steps:
-
Sign up for an account on the remittance app (Wise, WireBarley, Sentbe)
-
Verify your identity by uploading passport or ARC
-
Add recipient information (full name, bank account details abroad)
-
Choose amount and currency
-
Transfer funds using Korean bank account or debit card
-
Track the transfer in real time via the app
Common Mistakes to Avoid:
-
Misspelled recipient name → delays or refunds
-
Sending to a closed or invalid bank account
-
Not completing identity verification before initiating transfer
Tips for Sending Large Amounts Legally & Efficiently
Sending larger amounts? You’ll want to stay within legal limits and make sure you’re not triggering unnecessary taxes or delays.
Transfer Limits (2025)
-
Wise: Up to ₩100,000,000 per transfer (depends on country & ID level)
-
WireBarley: Daily/Monthly limits apply, but can increase with verification
-
Sentbe: Usually allows up to ₩10M per transaction (ARC required)
Foreign Remittance Reporting
-
Under ₩10M: No tax report usually needed
-
Over ₩10M: May trigger financial institution checks or tax notice
-
Over $50,000/year: Might need to submit documents to Korean tax office
Tips:
-
Use official channels with clear transaction records (Wise, Sentbe, etc.)
-
Avoid splitting a large amount into many small ones in one day → may raise flags
-
If unsure, check with a Korean tax accountant or bank for current regulations
Real Reviews from Expats Living in Korea
Before choosing a money transfer app, it helps to hear from other expats who’ve actually used them in Korea. Here are some real comments from Reddit and expat communities:
"I’ve used Wise for over a year now—super transparent and always fast."
— User on r/LivinginKorea
"WireBarley had zero fees when I sent money to the US. It took a day, but worth it!"
— User on r/Korea
"Sentbe is really smooth if you're sending to Southeast Asia. Flat fee, no surprises."
— Comment from a Filipino expat forum
💡 Takeaway:
-
Wise wins for speed and wide currency support
-
WireBarley is a favorite among budget-conscious expats
-
Sentbe stands out in transfers to Southeast Asian countries
-
Korean banks? Almost no one recommends them—too expensive and slow
Final Verdict: Best Option for Your Situation
Not all expats have the same needs, so here's a quick breakdown to help you choose:
| Your Priority | Best Choice | Why |
|---|---|---|
| Lowest cost | WireBarley | Free or ultra-low fees (depending on country) |
| Fastest transfer | Wise / Sentbe | Funds often arrive same-day |
| Easy to use in English | Wise | Great app, clear UI, mid-market exchange rate |
| Sending to SEA regions | Sentbe | Popular routes, reliable timing |
| Big transfer + docs OK | Korean Bank | OK for legal/official large transfers |
Start with Wise if your country is supported—it’s fast, transparent, and reliable.
Try WireBarley next for ultra-low fees. For Southeast Asia, Sentbe is a strong third option.
FAQs: Sending Money Abroad from Korea in 2025
Q1. Can I send money abroad using a prepaid SIM and no Korean bank account?
Most services require a Korean bank account under your name and a verifiable mobile number. Prepaid SIMs sometimes don’t work for SMS verification. It’s best to use a postpaid number and open a basic Korean bank account.
Q2. Will the recipient abroad be charged any fee?
Generally, no additional fee is charged to the recipient when using Wise, WireBarley, or Sentbe. However, some banks in the destination country may apply inbound wire fees, especially in the US or India.
Q3. Can I schedule recurring transfers automatically?
Wise allows you to set up recurring transfers on a weekly/monthly basis. WireBarley and Sentbe do not support this feature as of 2025.
Q4. Is there a way to track the transfer status in real time?
Yes. All three apps—Wise, WireBarley, and Sentbe—provide real-time tracking dashboards. You can see when the money is deducted, in transit, and when it reaches the recipient.
Q5. What happens if I enter the wrong account number?
If the transfer hasn’t been processed yet, you can cancel or modify it. But if it’s already sent, you’ll need to contact the app’s customer service immediately. Refunds are not guaranteed if the funds were delivered to a valid (but wrong) account.
Sending money abroad from Korea doesn’t have to be complicated—or expensive.
With trusted platforms like Wise, WireBarley, and Sentbe, expats now have more control, better exchange rates, and faster delivery than ever before. Whether you're sending $100 or $10,000, there’s a smart, secure option that fits your needs.
As always, double-check fees and limits before you send, and don't hesitate to reach out to each service’s support if you get stuck. Living in a foreign country comes with plenty of challenges—sending money home shouldn’t be one of them.
If you’ve had your own experience with these apps (good or bad), feel free to share it in the comments! You might just help out another expat trying to figure it all out.
