Remittance Services
Woori America Bank provides remittance services that are expected by our customers. Woori America Bank offers one of the most affordable remittance fees in the market and provides you the services available in making sure your funds are transferred without disruption.
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Remittance Service
Through our remittance services, you can transfer your funds safely and accurately within the United States and internationally. Also, you may further save on remittance fees by using cheaper remittance services available in the Internet Banking.
Features and Benefits
- Safe and accurate remittance in the United States and internationally.
- Cheaper remittance fee through online Banking Service.
| Region | In Person at Branch Remittance Fee (Through Bank Teller) | Online Remittance Fee |
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Korea
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$25
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$20
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Outside U.S.
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$30
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$25
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Domestic
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$25
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$20
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* Amendment Fee: $20 in person at branch / $15 online remittance
- If you want to change any information after completing your application, fees and limits may apply.
- Internet banking wire transfer transaction must be completed before 4PM(EST)
- Internet banking wire transfer transaction daily limit is $15,000.
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FAQ
How can I use the remittance service?
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All customers who have Woori America Bank Account can use the Online Banking.
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How long it will take to receive the wire transfer?
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From USA:
- To Woori Bank Korea accounts: 5-24 hours.
- To other bank accounts in Korea: about 3 days.
- To bank accounts in USA: 24 hours.
- To bank accounts in other countries except South Korea: 3-5 days.
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What is the maximum amount I can wire transfer?
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You can send the wire transfer up to the sum total of $15,000.
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How can I be sure that the wire transfer is well sent?
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If all the required fields are filled out in the request form and remittance is completed, confirmation email will be sent to the customers. (Only if remitted before 4:00 PM (EST)).
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Can I still make remittances if my primary ID, which was used when opening an account, is expired?
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If any information of your ID is changed or your ID is expired, please visit your nearest Woori America Bank branch with your most current up-to-date ID and use the remittance service again.
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Does my account automatically close when my balance reaches $0 after the remittance?
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When your balance reaches $0, your account will be blocked temporarily and in certain circumstances, can be closed by the bank.
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Do I have to provide the recipient bank's swift code or ABA Number when making a remittance?
- South Korea, only the name of the recipient's bank is needed.
- Other countries except South Korea, the name of the recipient's bank and the Swift Code of that bank are needed.
- Domestic bank accounts, the name of the recipient's bank and ABA number of that bank are needed.
- Other Woori America Bank accounts (Free), Swift Code and ABA Number are not need.
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Where do I put the Beneficiary's phone number?
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The phone number should be in the field where you put the beneficiary address.
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Woori KRW Remittance Service
[Woori KRW Remittance] is available in branch from branch open time until 3:00 PM (Local Time) Monday through Friday except holidays. Minimum amount for the transaction is Korean Won equivalent to $200, and maximum amount allowed to remit to same beneficiary is aggregate total of Korean Won equivalent to $20,000 per day. For any reason wire transfer is returned or rejected by recipient’s bank, returned fund may be smaller than the fund remitted by me due to the bank fees collected by the intermediary and/or beneficiary banks. Korean Won amount returned will be exchanged using the exchange rate on the date the order was returned.
- Recipient may receive less due to fees charged by the recipient’s bank and foreign taxes.
- [Woori KRW Remittance] can only be sent to following Korean Banks: Woori Bank, Shinhan Bank, Kookmin Bank, KEB Hana Bank, Citibank Korea Inc., Jeonbuk Bank, Jeju Bank, Daegu Bank, Kyongnam Bank, Industrial Bank of Korea, Suhyup Bank, Nonghyup Bank, The Korea Development Bank.
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Korean Won Currency Exchange Service
Woori America Bank provides Korean Won currency exchange in all branches located in 8 states in the U.S. The Bank is the main provider of Korean Won currency exchange service, and will be providing Korean Won Currency to other financial institutions as well. The Korean Won currency exchange service is expected to give benefits to students studying abroad, tourists, foreign correspondents, and Korean businesses.
Daily Limit and Required Documents
The Bank customers may exchange up to $10,000 per day, and non-customers have an exchange limit of $1,000 per day. Non-customer will be required to present a valid photo ID (Driver License or Passport) for the Korean Won currency exchange with cash.
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Have a Question?
For more information, please call customer service at 1-888-MyWoori (699-6674) or contact us online.
Contact Us
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