KRW Transfers – MoneyMatch Support

🔔 Latest Update: We have lowered our fees from MYR 8 to MYR 5! You can now enjoy cheaper fees for KRW transfers to South Korea!

Here is some information regarding KRW transfers to South Korea.

General Information

Who can I send to?
You can send KRW to personal and business bank accounts in South Korea.
How much can I send?
The amount you can send will differ depending on what type of MoneyMatch user you are registered as. Check Transaction Limits for more information.

Note: Annual limit of USD 50,000 (or equivalent) applies for each individual recipient.
How much does it cost?
Check our latest fees
What will be the payout method used?
Account Credit (Bank Transfers)
How long does it take for the funds to be transferred?
Once processed and set "In-Transit", transfers may take up to 1-2 business days to reach the recipient. However, sometimes it might take up to 4 business days to reach your recipient depending on the recipient's bank validation, as it might be held due to compliance checking in the recipient bank end. Learn more about how long transfer takes.

What information do I need about my recipient?

Bank Details
Recipient Account Number:
Account Title/ Name
Bank Name
SWIFT Code
Recipient Details
Recipient Name
Recipient ID Type & Number: Passport or Government Issued ID
Recipient's Nationality
Mobile Phone Number: Active and valid number
Email Address
Home Address

Bank Details
Recipient Account Number:
Account Title/ Name
Bank Name
SWIFT Code
Recipient Details
Company Name
Company Registration Number/ Tax ID:
Mobile Phone Number: Active and valid number
Email Address
Company Address

Additional Steps

Recipient Validation Required

Recipient Validation via SMS

For transfers to South Korea, your recipient will need to complete a validation process before they can receive the funds.

They will receive an SMS message from our payout partner in South Korea. Thus, kindly ensure you provide a valid recipient mobile number including the country code.
Transfers less than KRW 1 million

When you send a transfer to a recipient of less than KRW 1 million, your recipient will receive a verification link via SMS from our partner. They'll need to click the link and input an ID type and verification number.
Transfers more than KRW 1 million

When you send a transfer to a recipient that is KRW 1 million or greater, your recipient will need to verify both their identity and bank account information. They will have to click the link and complete the steps indicated.
What will happen if my recipient did not complete the steps?

Your recipient to complete the steps indicated in the SMS message within 72 hours in order for the funds to be released to their bank account. If the steps are not completed, the transaction will be rejected and returned to MoneyMatch for further action.

If your recipient did not receive the SMS from our partner, kindly Submit a Request and reach out to us for further assistance!