Industrial Bank of Korea

Western-union auto send

IBK, your financial partner
for a better future.
Western-union auto send
What is IBK-Western Union AUTO-SEND service?

「Fast transfer」* service by an automatic transfer method in which remittances are sent according to the provided remittance information in which the customer freely assigns the transfer date or amount.
→ Automatic overseas transfer when applied through a 1 time bank visit
* High-speed overseas remittance service that makes it possible to send money without the recipient's account number but just with the name of the recipient through Western Union's worldwide network of branches in approximately 200 countries and to receive it in a matter of minutes.

Service Detail
Participant
Foreign workers, study abroad students and other individuals
Remittance Currency
USD (American Dollar)
Automatic Transfer Method (Select)
  1. ① Transfer date designation method: automatic monthly transfer of the specified amount* on the specified transfer date
    * Within 50 ~ 5,000 USD monthly (fixed currency: American dollar, automatic transfer: 1 time a month)
    → Automatic transfer possible if there is available balance that includes the amount and transfer fee
  2. ② Total amount designation method: Automatic transfer by withdrawing the total balance when the amount over the minimum specified amount* is deposited in the withdrawal account
  3. ③ * Within KRW 50,000 ~ 5,000,000 monthly (designated currency: won, automatic transfer: unlimited times but, 1 time per day)
    → Automatic transfer of the balance excluding the transfer fee in US Dollars
Applied Exchange Rate
Telegraphic transfer selling rate applied at the time of transaction (withdrawal)
Withdrawal Account
Regular savings account and deposit account in your own name
→ Withdrawal processing time: Bank business day at 11:00 am, 16:00 pm
Remittance processing after withdrawal
Preparation Items
Identification / passport for foreigners (required) / recipient information (name, etc. in english) / mobile phone number (required to receive remittance result)
To apply for the service, please visit the nearest branch and apply. Only USD 1000 or less can be capable to the UK, Nigeria, and Malaysia.
Transfer Fee (Unit: USD)
Transfer Fee (Unit: USD)
Transfer Amount Transfer Fee
∼ Under 500 10
Over 500 ∼ Under 2,000 14
Over 2,000 ∼ Under 3,000 18
Over 3,000 ∼ Under 5,000 20
Designated Item and Transfer Limit (in USD)
Designated Item and Transfer Limit (in USD)
Transfer Category Monthly Limit
Transfer without proof of payment submission by the resident 50,000 USD 5,000 USD
Overseas temporary visitor, study abroad students expenses, etc. 100,000 USD
Foreign worker and other remuneration transfer 50,000 USD + within limits of proof of payment limit
*per transfer/monthly limit United Kingdom, Nigeria, Malaysia: Same date, same person, under USD1,000 Foreign currency transfer may be prohibited for transactions related directly or indirectly with financial sanctioning countries
Compliance Officer Passed Deliberation

2019-0686(2019.02.19)



Precautions

For more information about individual products, please visit the Trading Branch or contact IBK Customer Center (1566-2566)

  • If there are objections to bank transactions, you may request resolutions to the dispute handling organization of the IBK Industrial Bank or apply for conflict arbitrations through the Financial Dispute Resolution Board.
    (Financial Supervisory Service: 1332 without national code number., IBK Industrial Bank of Korea: 080-800-0119)
  • IBK Industrial Bank of Korea does not accept any bribes or treats, and in case of any violation of ethical management or any improvement needed, please report it. (+82-02-729-7490, e-mail: ibkethics@ibk.co.kr)