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- Internet foreign exchange transaction cannot be cancelled or corrected.
- You have to type accurately details of request in English, any loss arising out of customer's mistake or inaccurate input is to be borne by the customer
- In the course of remittance, fee for overseas bank will be deducted from the amount of remittance, and recipient will get the remainder.
Exchange rate quoted on the Internet is likely to change from time to time, if exchange rate changes while a transaction is in process, changed rate will be automatically applied. - If the withdrawal account is foreign currency account (transaction out of foreign currency account), you cannot claim services such as exchange rate preference, Asiana Mileage, First Cashbag Plus Insurance. However, remittance fee (general customer : 50%, student studying abroad: free of charge) will be given automatic preference (wire charge is payable).
- When sending euro currency, be sure to input iban code into recipient's account number field for prompt and accurate remittance processing (input with no space left).
- Other matters are to be dealt with by Bank's 'Foreign Exchange Transaction Basic Agreement'
- Small amount remittance (1,000 U.S. dollars equivalent or less)
- For 'small amount remittance of 1,000 U.S. dollars or less' per transaction, you are free to remit without submitting separate evidencing documents to Bank's branch or designating transaction foreign exchange bank.
- Individual remittance (for grant)
- Individual remittance is remittance done by individual to send relative's living expense, expense for congratulations and condolences etc. without evidencing documents.
- Individual remittance (for grant) entails annual designation of transaction foreign exchange bank (branch), if you designated another bank for the current year, you can't do individual remittance through the Bank.
- * If you designated another bank previously and did remittance, please apply for change of designation for transaction at Bank's closest branch.
- Transaction limit amount for ‘individual remittance (for grant)’ is 50,000 U.S. dollars equivalent or less per transaction.
- If yearly sum of remittance (Jan. 1 ~ Dec. 31 period) exceeds 10,000 U.S. dollars or equivalent, details of the transaction will be reported to National Tax Service.
- Student studying abroad
- Student studying abroad himself/herself or domestic attorney is able to send money, over the Internet, necessary for studying abroad from domestic deposit account to overseas bank account
- For remittance, visit Bank's closest branch and designate (only one time) transaction foreign exchange bank. Be sure to bring admission certificate (or enrollment certificate) issued by foreign school, passport, resident registration card for designation of transaction foreign exchange bank.
- From the next year of transaction foreign exchange bank designation, don't foget to bring enrollment evidencing document (enrollment certificate etc.) each year to the branch of designation for Internet transaction.
However, 'designation of transaction foreign exchange bank' enables Internet transaction for the year of transaction foreign exchange bank (Jan.1 ~ Dec.31 period).
- Overseas staying national
- Overseas staying Korean himself/herself or domestic attorney is able to send money, over the Internet, necessary for overseas staying from domestic deposit account to overseas bank account.
- For remittance, visit Bank's closest branch and designate (only one time) transaction foreign exchange bank. Be sure to bring passport, resident registration card and overseas stay evidencing documents such as business trip, temporary relocation, overseas training evidencing documents etc. issued by the head of an institution for transaction foreign exchange bank designation.
- Student staying abroad & overseas staying national
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Category qualification for transaction foreign exchange bank designation Documents to be submitted stay preiod stay purpose Student studying abroad 6 months or longer study, academy·research, training admission certificate or tuition receiptl, enrollment evidencing documents etc. Overseas staying national other than student studying abroad over
30 days- business, culture, government affairs, technology training
- overseas training shorter than 6 months
- employment by domestic corporate and research center
business trip/temporary relocation certificate, overseas training evidencing document etc. issued by the head of an institution - Bring passport, resident registration card and visit closeset branch for designation
- Internet transaction conditions
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Category Internet transaction (currency exchange & remittance) conditions Student studying abroad - From the next year of transaction foreign exchange bank designation, enrollment evidencing documents are to be submitted each year for transaction (however, no separate submission is needed for the year of transaction foreign exchange bank designation)
Overseas staying national other than student studying abroad - Internet transaction is no longer available after overseas stay period expires
- If yearly (Jan.1 ~ Dec.31) transaction amount under the overseas staying expense code (currency exchange & remittance), done via both branch and Internet, exceeds U.S. 100,000 dollars equivalent, transaction details are to be reported to National Tax Service.
