|Overseas Remittance Form and Information|
Attached are two sample forms for Overseas Remittance (making money transfers to a bank account in another country).
The Korean term for overseas remittance is 해외송금.
Please use these forms as a reference to find out what information you will initially need for when making transfers.
The first attachment is from the NH website. The second one is from KEB.
Enrolling for Making Overseas Remittance
You can make transfers through internet banking, at ATMs, and in-person.
You have to initially enroll in-person at the bank.
When you go to the bank to sign up for overseas remittance, you will have to register for making overseas transfers called 지정등록.
Say you want to make them for both ATM and internet banking.
You are only allowed to make overseas transfers from one bank at a time, so choose wisely.
It is possible to change primary withdrawal banks later but it is a complicated process.
You must bring your passport and ARC.
Information Needed When Making Overseas Remittance
Applicant (you): Name, Address, Phone Number (required), Passport number
Beneficiary (receiver): Name, Address, Phone number
Beneficiary's Bank: Bank name, Bank branch name, Bank branch address, Bank account number
SWIFT CODE: 11 digits
Bank Code (by country):
USA: ABA NO (FED WIRE NO, ROUTING NO) - 9 digits
Canada: TRANSIT NO. - Bank code 3-4 digits, Branch code 4-5 digits
Europe: IBAN CODE
Australia: BSB NO - 6 digits
Japan: Branch code - 3 digits
Germany: BLZ NO - 8 digits
UK: SC NO - 6 digits
When Receiving Money
Bank Name: NongHyup Bank (NH BANK)
SWIFT CODE (BIC CODE): NACFKRSEXXX
Account No.: NH bank account number
Beneficiary (receiver): English name, Address, Phone number
NH Internet Banking
Nonghyup (NH) has global online banking available in English: https://banking.nonghyup.com/servlet/PGMN0001R.view
On that website, you would go to "Foreign Exchange" and then "Foreign Currency Remittance"
Transfer Amount Limits
You can transfer up to USD 10,000 each time and up to USD 50,000 per year.
If you exceed the amounts, you may be subject to auditing from the National Tax Service due to possible suspicious activity.
*The above information is from NongHyup Bank (NH Bank).
**Please ask your bank with a co-teacher for further detailed information.
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