How to Send Money to South Korea

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Sending money to South Korea (either to pay employees or purchase goods) cannot be safely done through cash, check or credit card transactions. The data can easily be stolen and used to drain your savings. However, there are multiple services that provide wire transfers to South Korea from the United States, Europe and other areas of the world.

Things You'll Need

  • Internet access
  • Bank account
  • Log on to PayPal.com. If you don't have a PayPal account, click "Sign Up" at the top of the screen, then enter your email account, select a password and fill in the remainder of the information. Your email will be used as your login name. Log into your account and select "Add Funds." Type in the routing and account numbers of your checking account, followed by the name on the account, the account type and the home address for the account. Type in the amount of money you wish to send and click "OK." It will take a few days for the money to transfer from your bank account into PayPal. Once the money appears in your PayPal account, click "Withdraw" followed by "Transfer to Account." Type in the banking account information for the bank in South Korea, the name on the account and all other requested information. Once the account is verified, type in the amount of money you wish to send and click "OK." It will take a few days for the money to transfer, but once it does, the funds will be deposited into the South Korean bank account.

  • Navigate to the Western Union website. Western Union allows you to send money directly to a South Korean bank account (instead of using PayPal) and functions faster. However, you will be charged a fee (a minimum of $5 per transaction). Click "Register," then fill in all the required information, including your bank account or credit card information. After you are finished select "Send Money," then choose "South Korea" as the country you want to send the money to. Enter in the recipient's full name and choose a Western Union location near her home or place of business. Type in the amount of money you want to send and click "Submit." The money order is placed and the recipient can pick up her money as long as she has a government-issued ID.

  • Navigate to MoneyGram.com. Select "Send Online," choose "South Korea" as the country you want to send the money to and enter the total you want to send. Select the date you want the money to be transferred (including the same day). Click "next," then choose the location you want to send the money to in South Korea. Type out your payment information and click "Submit." The money order is placed, and the recipient can stop by his local payment facility, show a state-issued ID and pick up the funds.

References

  • Photo Credit money money money image by Tribalstar from Fotolia.com
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