Republic of South Korea

Account Channel

Service Specification

TypeDescription
Cash-out MethodDirect credit to bank account in Korean Won
Supported beneficiary account type – individual
Supported sender type - individual
Transaction Turnaround Time· Real time Payout (5 minutes) for amount less than KRW 6,000,000.00
Area availabilitySouth Korea nationwide
Validation / Verification· Beneficiary name shall be match with the bank register system.
Amount receivedBeneficiary to be received the payout in the nearest KRW 1. All Decimal value will be discarded.
Transaction LimitIndividual to Indivdual Maximum per Transaction KRW 5,500,000.00
Minimum per Transaction KRW 30,000.00
Maximum per Year USD 50,000.00 equivalent KRW
Maximum BeneficiaryNo restriction
Service ChargeTransaction Fee will not be refunded once the Transaction is accepted by the gloRemit® Service System and submitted by the gloRemit® Service System to the Payout Channel.
Cancellation ProcessCancellation is on best effort basis.
RemarksFirst time beneficiary is required to register online with a valid South Korea Mobile Number.
Do_Transfer bAccType Value1

Supported Bank

NoNameIssuer Code
1Korea Development Bank820001
2부산은행:Busan Bank820002
3IBK기업:Industrial Bank of Korea820003
4KB국민:Kookmin Bank820004
5제주은행:Jeju Bank820005
6수협은행:Suhyup Bank820006
7경남은행:Kyongnam Bank820007
8NH농협:National Agricultural Cooperative Federation820008
9우리은행:Woori Bank820010
10SC은행:Standard Chartered First Bank Korea820011
11신한은행:Shinhan Bank820013
12대구은행:Daegu Bank820014
13하나은행:Hana Bank820015
14Kakao Bank820017
15Korea Citi Bank820018
19K-Bank820019
20ShinHyup Bank820020
21JeonBuk Bank820023