Best Providers for Sending Money to South Korea from United Kingdom
When considering how to send money South Korea from United Kingdom there are some key aspects of the transfer that will impact the best provider for your needs.
There are plenty of international money transfer providers for United Kingdom to South Korea. The fastest provider is . The cheapest provider we found is at Above Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using when sending GBP – KRW.
This means that by using for online money transfers to South Korea from United Kingdom, you are likely to save on transfer fees and benefit from fast speeds – so your recipient will get more money and have it delivered in less time.
Alternatively, if you are unable to access for any reason, our comparison engine has found also to be very good options when sending GBP to KRW.
The cheapest way to send money from United Kingdom to South Korea
The cost of transferring money will depend on the value of the transaction and amount of KRW you want the recipient in South Korea to receive.
In order to avoid high fees, you should consider the cheapest way to send money from United Kingdom to South Korea.
has been determined by our comparison engine to be currently offering you the cheapest rates possible.
The fastest way to send money from United Kingdom to South Korea
When sending money from United Kingdom to South Korea, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers, particularly if you want to send money instantly. Currently, is the fastest way to send GBP – KRW.
What payment methods are available when sending money from United Kingdom to South Korea?
Most money transfer providers allow you to deposit and send money using various payment methods, but not all providers offer every option. Typically you’ll find the most common methods are bank transfers and card payments, but many providers also accept cash and some will even deliver funds straight to your recipient’s door.
Sending money to South Korea from United Kingdom using credit card
To avoid high fees you can opt to use an online money transfer provider such as to pay for your transfer to South Korea. Our guide on sending money using a credit card has more information.
Sending money to South Korea from United Kingdom using a debit card
With you can send money online to South Korea using your debit card. But before making a payment, make sure you understand all the processing fees in place. Our guide on sending money using a debit card has more information.
Using a wire transfer to send money from United Kingdom to South Korea
Bank and international wire transfers are the most common ways of sending money South Korea as they are secure, reliable, and convenient. However, they often come with the slowest delivery times in case speed is an important factor for you. You can use to send money using a bank or wire transfer at a great rate as long as you’re happy for your transfer to take 1-2 days.
When sending money to South Korea from United Kingdom using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee. If you do decide to make an international transfer using wire transfer, you might be required to use a SWIFT/BIC code when completing your transaction. If you’re unsure of what it is, check out our guide on what is a SWIFT code as well as use our SWIFT code calculator to find the right SWIFT/BIC code.
On the other hand, you usually only pay a sender fee and a small exchange rate markup when using online money transfer services such as .
Considerations for a GBP to KRW Currency Transfer
Before sending money to South Korea from United Kingdom, you should consider the following:
- The amount you want to transfer: It is likely that the more money you send to South Korea the more value you will get and more KRW the recipient will receive. This is because any flat fee charged ends up as a smaller percentage of your transfer amount, and also because many providers allow you to negotiate a better exchange rate margin if sending large amounts.
- The GBP – KRW exchange rate margin: Money transfer providers charge a small percentage on top of the mid-market exchange rates in order to generate revenue. Current mid market rate is 1560.177326 and the lowest exchange rate margin is currently offered by at above the mid market rate.
- Hidden fees & charges: Before sending money to South Korea, make sure the provider you are using doesn’t charge any hidden fees. Our reviews of the top ranked providers , and will give insight here.
How to send money from United Kingdom to South Korea at the best rate?
This one’s easy. Simply use our comparison table above to find the best provider to send GBP to KRW. After that it’s just a process of making your transfer via the following steps:
- Click “Visit Site” inside our comparison table
- Register for an account if required
- Input how much you are willing to send
- Fund your transfer
- Receive & save an email confirming your transfer
How to receive transfers from GBP to KRW in South Korea?
Your recipient has a few methods available to receive your money in South Korea. These will vary between providers, but it is possible to find services that will:
- Deposit KRW directly into a bank account
- Enable the recipient to pick up cash a specific locations across South Korea
- Deliver money directly to their door
- Send KRW to your recipient’s mobile wallet
If your recipient is going to collect or have the money delivered to them in South Korea, then they will usually need the following:
- A government issued I.D document
- The money transfer reference number
- Senders details and the amount of money sent
How much money can be transferred from United Kingdom to South Korea?
The amount of KRW you can receive from United Kingdom will largely depend on the money transfer service you are using. There are providers that specialise in smaller remittance payments, and providers who specialise in larger transfers.
You should also check if there are any government regulations pertaining to the amount of KRW that can be received in South Korea or sent from United Kingdom before making your transfer.
How much money can be transferred from United Kingdom to South Korea?
The amount of KRW you can receive from United Kingdom will largely depend on the money transfer service you are using. There are providers that specialise in smaller remittance payments, and providers who specialise in larger transfers.
You should also check if there are any government regulations pertaining to the amount of KRW that can be received in South Korea or sent from United Kingdom before making your transfer.
Are there any tax implications from sending money from United Kingdom to South Korea?
Each country in the world will have its own set of tax laws and rules for receiving money from abroad. Money sent for business purposes will usually be taxed as a foreign income. If you’re looking to receive a large amount from abroad, you should hire an accountant or contact your local tax office for any further advice.
Every country’s government will also have its own set of regulations for receiving money, depending on the amount sent and the purpose. If you’re looking to receive a large amount of KRW from United Kingdom, it is again a sensible idea to contact an accountant and ensure your actions are legal and any necessary taxes are paid in full.
Are money transfers services regulated?
Yes. All our listed companies dealing with overseas money transfers must be authorised with their relevant regulatory body.
Can I send money with MoneyTransfers.com?
No. MoneyTransfers.com is a comparison website aiming to match you with the best money transfer providers for your needs when transferring money online.
What do we mean by the top provider?
The top provider is the money transfer service that we believe is the most suitable for the country you’re sending money to. In order to keep our service free we factor in the commercial agreements we have with partners into this ranking.
How do we choose providers to display?
We make sure that each table displays the most relevant brands to the country you are sending money to and from. We consider many factors when choosing the providers to display in the table.All of the providers we display are fully regulated to provide money transfer services in the jurisdiction you are searching, relevant regulatory authorities are the FCA, ASIC, Fincen, FINTRAC & AMF. Alongside being regulated the services are manually checked by our team for both quality of service and online trust from such platforms like Trustpilot and Google reviews.We base our rankings primarily on the quality of the service provided, the benefit to the consumer and to keep our service free – the commercial agreements we have.
How do we order our comparisons?
We are affiliated with some of the partners displayed in the tables. However, the order of the providers is based on the quality of the service for the particular country corridor followed by the commercial agreement in place. You don’t pay any extra and the deal you get isn’t affected by our commercial agreement with the money transfer provider. We may receive a commission when you click through to a listing or when you make a transaction.We aim to find the balance between the quality of the service, customer satisfaction and the commercial agreements we have, and continue comparing services in a transparent way.If you have any questions about our listings, please don’t hesitate to email us at contact@moneytransfers.com
Why do different companies offer different rates?
Simply put, they have different business models. There are many different online providers and each will have a different business model creating a variance in fees.
My favourite company is not listed, why is that?
Contact us and let us know! If you’ve been using another company to send money online that we haven’t listed yet, contact us at contact@moneytransfers.com and let us know. We will make sure to review your suggestion.
What do I do if I need help?
Contact us. If you’re struggling to make a decision or unsure about using any of these services, feel free to contact us at contact@moneytransfers.com with any enquiries you have and we will get back to you ASAP.