Industrial Bank of Korea

IBK, your financial partner
for a better future.

Mobile Remittance

Service Info.
IBK Mobile Foreign Currency Remittance Service
The foreign currency remittance service allows customers who have completed their registration of "VM Mobile Banking" after joining "Internet Banking" to transfer remittance to domestic and overseas via a mobile phone with a dedicated program (VM: Virtual Machine) according to the remittance information provided in advance at the bank window.
Remittance Type and Transaction Target
  • Remittance type : Foreign remittance and domestic funds transfer (TR)
  • Transaction target : Individual (Individual Business), foreigners
Remittance Type and Transaction Target
  • Applying favorable exchange rates (30% discount on the trading margin)
  • 30% reduction in remittance fees
Transfer Limit for Each Category
Remittance limits per transaction
Transaction item Remittance limit
(Minimum remittance limit: USD 100 or more)
Remittance of residents who do not submit proof of payment Before change: Amount equivalent to USD 10,000 or less per day
(less than USD 50,000 per year)
After change: Less than USD 50,000 per year
Remittance of expenses for overseas residents and overseas students Less than USD 100,000 equivalent per year
Remittance of domestic remuneration for foreign workers Before change: Amount equivalent to USD 10,000 or less per day
(less than USD 50,000 per year)
After change: Less than USD 50,000 per year
Foreign currency fund transfer in Korea Before change: Less than or equal to USD 100,000 per case
After change: No limit
Service Usage Methods
  • Internet banking and VM mobile banking subscription (registration)
  • Foreign exchange remittance service application form and receipt of terms after designating foreign exchange bank
Service Usage Methods
Usage Time Processing Standard
During banking hours (Current: 09:00 ~ 16:00) Within business hours
Outside bank hours (including Saturdays, Sundays, and bank holidays) Within the next business day business hours
Compliance Officer Passed Deliberation

2020-4447(2020.10.30)

Expiration Date: 2020.10.30 - 2021.10.30


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)