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South Korea

Type Description
Cash-out Method Direct credit to bank account in Korean Won
Supported beneficiary account type – individual and company
Transaction Turnaround Time
  • Real time Payout (5 minutes)

Subjected to Singapore office timing and funds being received
Area availability South Korea nationwide
Validation / Verification Beneficiary name shall be matched with the bank register system. Account validation with beneficial bank name, bank code and bank account number
Account received Amount received Beneficiary to be received the payout in the nearest KRW 1. All Decimal value will be discarded.
Transaction Limit Transaction Limit
Maximum per Transaction KRW 3,000,000.00
Minimum per Transaction KRW 30,000.00
Maximum per Year USD 30,000.00 equivalent KRW
Compliance accumulated limit KRW 10,000,000.00 per day
Service Charge Transaction fee will not be refunded upon submitted to the banks.
Cancellation Process Cancellation is on best effort basis.
Remarks First time beneficiary is required to register online with a valid Korean mobile number.