Overseas Remittance Fee Comparison
Compare what you’d actually receive after fees and exchange rate markup across up to 3 banks or transfer apps — enter the numbers each one quotes you.
Sending Money Home from Korea? The Bank’s “No Fee” Ad Is Hiding the Real Cost
If you send money from Korea to family back home, you’ve probably noticed something confusing: your bank might advertise “low fees,” but the amount your family actually receives never quite matches what you expected. That’s because the real cost of a money transfer isn’t just the fee — it’s the exchange rate markup, which most providers don’t show clearly upfront.
The trick banks and apps use: they quote you an exchange rate that’s slightly worse than the real “mid-market” rate (the one you’d see on Google or XE), and pocket the difference. A transfer with a “₩0 fee” can still cost you more overall than one with a ₩10,000 fee and a better exchange rate.
Our calculator lets you compare up to 3 providers side by side using the real numbers they quote you — not estimates.
How to use it:
- Enter the amount you want to send in KRW.
- Enter the destination currency (USD, PHP, VND, THB — anything).
- Look up today’s real mid-market rate (search “1 USD to KRW” on Google) and enter it — this step reveals the hidden markup.
- For each provider, enter their quoted exchange rate, flat fee, and any percentage fee.
- See exactly how much your recipient gets with each option, plus the “all-in cost” — the true amount you’re losing overall, fees and markup combined.
Why this matters more than people think: on a ₩1,000,000 transfer, a 1–2% difference in exchange rate markup can mean tens of thousands of won — often more than the advertised “fee” itself. Comparing your options before every large transfer is worth the two minutes it takes.
