Wire Transfers to South Korea: Bank Code vs. SWIFT Code
South Korea has strict foreign exchange regulations and real-name verification laws. Ensure you use the correct information:
1. Domestic Transfers 👉 Use the 3-digit Bank Code
If you are making a domestic transfer within South Korea via an ATM or banking apps like Toss or KakaoPay, you only need the 3-digit Bank Code (e.g., 004 for KB Kookmin Bank) and the recipient's account number.
If you are making a domestic transfer within South Korea via an ATM or banking apps like Toss or KakaoPay, you only need the 3-digit Bank Code (e.g., 004 for KB Kookmin Bank) and the recipient's account number.
2. International Wire Transfers 👉 Use SWIFT + Exact English Name
When sending money from overseas to South Korea, you must provide the SWIFT Code.
⚠️ CRITICAL: Due to strict anti-money laundering (AML) laws, the recipient's English name on your transfer form MUST exactly match the English name registered on their Korean bank account (including spelling and spaces). Mismatches will result in rejected or delayed transfers.
When sending money from overseas to South Korea, you must provide the SWIFT Code.
⚠️ CRITICAL: Due to strict anti-money laundering (AML) laws, the recipient's English name on your transfer form MUST exactly match the English name registered on their Korean bank account (including spelling and spaces). Mismatches will result in rejected or delayed transfers.