Send Money from Canada to Kookmin Bank in South Korea

Kookmin Bank (KB국민은행), South Korea

As the flagship subsidiary of the KB Financial Group (KBFG), KB Kookmin Bank is one of South Korea's largest banks. Small and medium-sized businesses (SMEs) as well as corporate customers can take advantage of the company's extensive range of financial services and financial products. More than 30 million retail clients, or about half of Korea's population, use its around 9,000 ATMs and over 1,100 branches.

There are around 20 million internet banking users at KB. With the largest market shares in deposits and loans; trusts; custody; smart banking; and mutual fund/bancassurance sales, it is a leader in the industry. The corporation was founded in 1963 and has its headquarters in Seoul, the capital of South Korea. In addition to New York, London and Hong Kong it also maintains offices in Tokyo, Guangzhou, Phnom Penh and Harbin, Ho Chi Minh, Auckland, and Yangon. To date, KB Financial Group has assets totaling KRW 433.971 trillion and deposits of KRW 251.4 trillion. The Asian Banker selected KB Kookmin Bank Korea's Best Trade Finance Bank and Best Custodian Bank in 2017.

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How to Send Money to Kookmin Bank in South Korea

Sending money to a Kookmin Bank account in South Korea is easy with Remitbee. It just takes six easy steps.

  • Create a Remitbee account for free. This is simple and free, and it grants you access to a private Remitbee Wallet as well as a secure account in our system.

  • Tell us about yourself, including your full name, residence, and occupation. Verify your email address and phone number.

  • Tell us where you want your money sent. We require the recipient's bank account information, including the bank name and account number.

  • Examine the CAD/KRW exchange rate. Once you're in agreement with the CAD to KRW conversion rate, enter the amount you wish to send, choose your payment method, and confirm your transfer. The prices for conversations fluctuate on a daily basis, but the costs for each payment option are fixed and permanent.

  • Keep track of your money. You've completed all of your tasks at this stage! We'll transfer your money; simply keep an eye on it in the Remitbee app and wait for it to arrive in South Korea.

  • Be a Superhero! Anyone who sends money to South Korea over the internet to assist their family is a hero. Our job is to assist in providing a service worthy of a hero.

What are the benefits of sending directly to Kookmin Bank?

There are several advantages of transferring money straight to Kookmin Bank using Remitbee. Here’s a short rundown:

  • It is more secure than offline services

  • It’s fast

  • You can do it from the convenience of your own home

  • You will be able to access your funds as soon as the transfer is completed

What is the information you need to complete the transfer?

Here is the information you'll need to finish the transfer with Remitbee:

  • Recipient’s name – Check that the name on the account you're transferring is precisely the same as it appears on bank statements. This will prevent your transfer from being delayed.

  • Bank name – Indicate the name of the South Korean bank that you are sending to.

  • Account Number – This guarantees that it reaches your recipient’s account.

How Remitbee calculates the CAD to KRW exchange rate

We strive to keep our costs as low as possible and monitor prices on a daily basis in order to provide you with the most affordable Korean Won exchange rates on the market. When you utilize bill payment, Interact, or debit card payment methods, there are minor costs, but you may also use the Remitbee Wallet so you don’t have to pay for fees at any time. We are transparent about any fees, and you may see them before sending money to South Korea in the application.

Send money to all major Banks in South Korea

How international money transfers work

The SWIFT network is used for international wire transactions. Before the transfer is approved, transfer instructions are transmitted from the sender's bank to the recipient's bank, and any costs are calculated. One of the banks will compute the CAD to KRW conversion rate, and the funds will be transferred between accounts.

Disclaimer: All third-party trademarks (including logos) referenced by Remitbee Inc. in this article remain the property of their respective owners. Unless specifically identified as such, Remitbee's use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between Remitbee and the owners of these trademarks. Any reference by Remitbee to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law. Furthermore, we are not responsible for any inaccuracies identified in the article's content, and that information can be verified by contacting the respective third parties directly mentioned in the article.

Frequently Asked Questions

You certainly can.

You can pay via Interac e-Transfer, Interac Online, Bill payment, EFT, Visa or Mastercard Debit.

The transfers can be completed within 1 business day.

You can send up to 9,000 CAD per day and a maximum of 50,000 CAD per month if you verify your identification on our platform.

Any transfer of more than 500 CAD is free. Fees for transfers less than $500 CAD are as follows:

  • Interac Online - $2.99

  • E-transfer – Free

  • Bill Payment - Free

  • Electronic funds Transfer - Free

  • Visa or Mastercard Debit - $2.99+

The CAD to KRW exchange rate is currently 1 CAD for {{KRW}} KRW. This changes daily.

The maximum amount of money you may send in CAD is determined by the degree of verification on your account.

The lowest Verification Level 1 allows you to transfer just 50 CAD per day and up to 500 CAD per month.

Level 2 verification is recommended. It allows you to send up to 3,000 CAD each day and up to 25,000 CAD per month.

We also provide a good option for those that need to transfer greater sums of money for Verification Level 3. It allows you to transmit up to 9,000 CAD per day and up to 50,000 CAD each month.

We're also working on Verification Level 4 to give our customers even more sending limits.

Remember that verification is a one-time process. There is no need to supply any more documentation after you have been confirmed.

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