There are a number of easy ways to send money to South Korea, but ease does not always mean good value.
High street banks, for example, offer one of the easiest ways to send won to South Korea.
You can usually organise a transfer with just one phone call or in-branch visit; great when you need to set things up quickly.
But this convenience comes with a cost. Per-transfer fees will probably be imposed each time you move money and the foreign exchange rates are not going to be very attractive.
An alternative would be to use a Money Sending bureau to move money to South Korea.
These establishments are found on high streets and in malls around the world and allow you to send money internationally, even if the recipient cannot access a bank account in South Korea, say with the KB Financial Group or the Woori Bank.
Unfortunately, you can expect to pay a per-transfer fee of between ten and 15 per cent each time you move funds.
This can soon eat into your funds, wasting money unnecessarily between your country of residence and South Korea.
To avoid this situation, why not look into using a foreign exchange bureau?
These companies will help you get a competitive exchange rate on your money but if you choose to send money to South Korea with RationalFX, we can also guarantee a service with low per-transfer fees.
You can open an online account with us for free today to view and compare our exchange rates.