Industrial Bank of Korea

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

Transfer Category	Transfer Limit (Minimum transfer limit: US $ 100 or more)
When no certificate of payment is submitted	Less than US $ 10,000 per day (US $ 50,000 or less per year)
Overseas temporary visitor, study abroad students expenses, etc.	Less than US $ 100,000 per year
Remuneration for foreign workers	Less than US $ 10,000 per day (US $ 50,000 or less per year)
Domestic foreign currency fund transfer	Less than US $ 100,000 per transfer

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