Kakao Bank International Transfer

Kakao Bank account holders can send money to nearly 22 countries and receive funds from nearly 200 nations. Kakao Bank international transfers to any country other than South Korea can be made through the official website and app of this bank. The financial institution allows inward remittances via the Western Union international money transfer. Just like every other bank allowing inward and outward remittances, this South Korean bank also charges transfer fees on each transaction, levies exchange rate charges, and accepts transfers in all the major currencies. 

How to Send Overseas Remittance via Kakao Bank?

Kakao Bank international transfers can be processed through online transfer via the official website of this financial institution. Here are the basic guidelines to send money internationally through Kakao Bank online service:

• Visit the official website of the bank
• Click on the “Overseas Remittance” menu
• Select “Send Overseas Remittance” from the drop-down menu
• Fill out the full name, address, and bank details of the recipient
• Fill in the transfer amount
• Click on “Complete” to complete the overseas transfer

Also Read: HDFC International Money Transfer

How to Receive Overseas Remittance via Kakao Bank?

Account holders of Kakao Bank can receive inward remittances through Western Union transfers. Here are the instructions to receive a Kakao Bank international transfer from overseas without visiting a physical branch of Western Union:

• Take all the details from the sender. Acquire the sender’s full name, Money Transfer Control Number (MTCN), the country in which the sender is residing, and the expected receiving amount.
• Go to the “Overseas Remittance Collection” menu
• Select the “Receive Overseas Remittance” option and enter all the required information.
• Click on the “Complete” button. 
• After this, the transfer amount will be deposited into Kakao Bank after 2 minutes.

Transfer Fees

Kakao Bank levies Won 5,000 (INR 300) to Won 10,000 (INR 600) for a regular overseas remittance and USD 5 (INR 400) on a Western Union international remittance. The sender has to pay the regular overseas transfer fee while sending money to nearly 22 countries from South Korea and the receiver in South Korea has to bear the cost of the Western Union transfer fee. 

Also Read: Latest TCS on Foreign Remittance for Education Section

Delivery Time

Kakao Bank completes a regular overseas remittance in nearly 1 to 5 business days. The exact time depends on the recipient country and currency. For each Western Union international remittance, Kakao Bank takes under 1 minute. 

Major Acceptable Foreign Currencies

This South Korean Bank accepts inward remittances in the majority of the globally accepted currencies. Some of the major currencies accepted by Kakao Bank are as follows:

• Singapore Dollar (SGD)
• New Zealand Dollar (NZD)
• United States Dollar (USD)
• Japanese Yen (JPY)
• Hong Kong Dollar (HKD)
• Australian Dollar (AUD)
• Euro (EUR)
• Canadian Dollar (CAD)

Also Read: HSBC Global International Money Transfer

FAQs

This was all about Kakao Bank international funds transfer. To learn about other international money transfer networks and banks, stay tuned to Leverage Edu and Fly Finance. To avail of transfer services contact our forex team at 1800 572 126.