Send Money from Canada to Shinhan Bank in South Korea

Shinhan Bank (주식회사 신한은행), South Korea

Shinhan Bank (SHB) is the second biggest bank in South Korea, both in terms of assets and market capitalization. Over 18 million clients benefit from its retail, corporate, and investment banking services, which are provided by its 13,400 staff. It has one of the largest branch networks in South Korea, with around 900 branches, according to the bank.

A number of other nations have branches of the Bank of International Settlements (BIS) as well. Shinhan purchased Chohung Bank (previously Hanseong Bank) in 2006, Korea's oldest bank, founded in 1897. Shinhan is headquartered in Seoul. Financial Group's flagship Shinhan Bank is the company's principal operating subsidiary (SFG).

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How to Send Money to Shinhan Bank in South Korea

A Shinhan Bank account may be funded quickly and easily using Remitbee. It only takes six simple actions to get it done.

  • Create a free account with Remitbee. The process is quick and it gives you access to a private Remitbee Wallet as well as a secure account on our system.

  • Encode your entire name, address, and job title, if you have one. Verify your email and phone number.

  • Provide the recipient's account details, including the bank name and account number.

  • Take a look at the CAD/KRW exchange rate. Choose your payment method and confirm your transfer once you're satisfied with the CAD to KRW conversion rate. While the prices for conversations fluctuate on a day-to-day basis, the costs for each payment option are fixed and permanent.

  • Keep track of your money. At this point, all of your tasks have been completed! Keep an eye on it in the Remitbee app while you wait for your money to arrive in South Korea.

  • Be a Superhero and save the world! A hero is anyone who uses the internet to send money to South Korea in order to help their family. Ultimately, it's our job to help provide a hero-worthy service.

What are the benefits of sending directly to Shinhan Bank?

Using Remitbee to send money directly to Shinhan Bank has many advantages. Here's a quick rundown:

  • Compared to offline services, it is more secure

  • It’s fast

  • If you want to do it from the comfort of your home, you can

  • Your funds will be available as soon as the transfer is complete

What is the information you need to complete the transfer?

Remitbee requires the following information in order to complete the transfer:

Recipient’s name – Ensure that the name on the account you're transferring matches the name on the bank statements. This will prevent your transfer from taking longer than it has to.

  • 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

Every day, we monitor the market for the best Korean Won exchange rates in order to provide you with the best rates. Small fees apply when you use bill payment method, Interac or debit cards, but you can also use Remitbee Wallet to avoid any additional charges. In the application, you'll be able to view any fees that may be charged.

Send money to all major Banks in South Korea

How international money transfers work

In order to conduct international wire transfers, the SWIFT network is used. Before the transfer is approved, the sender's bank transmits the transfer instructions to the recipient's bank, and any costs are calculated before the transfer is authorized. This is done by having one of the banks calculate the CAD to KRW conversion rate and then transferring the funds between bank accounts.

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Frequently Asked Questions

Yes, you can.

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

Within one business day, the transfers may be accomplished.

If you verify your identity on our platform, you can send up to 9,000 CAD per day and 50,000 CAD per month.

Over 500 CAD in transfer is free. Transfers of less than $500 CAD are subject to the following charges:

  • 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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