Wiring to South Korea: Bank Code vs. SWIFT Code
South Korea strictly enforces foreign exchange regulations and real-name financial transaction laws. Please choose the correct code based on your transfer method:
1. Domestic Transfers 👉 Use the 3-digit Bank Code
If you are making an interbank transfer within South Korea via ATMs or mobile banking apps (like Toss), you only need to select the bank (which corresponds to the 3-digit Bank Code) and enter the recipient's account number.
If you are making an interbank transfer within South Korea via ATMs or mobile banking apps (like Toss), you only need to select the bank (which corresponds to the 3-digit Bank Code) and enter the recipient's account number.
2. International Wire Transfers 👉 Use SWIFT Code (Crucial Name Matching)
When wiring money from overseas to South Korea, the sending bank will require a SWIFT Code.
⚠️ **IMPORTANT**: The beneficiary's English name entered on the transfer form MUST EXACTLY MATCH the English name registered on their Korean bank account (including spelling, spacing, and word order). Mismatches frequently result in funds being held pending review or returned.
When wiring money from overseas to South Korea, the sending bank will require a SWIFT Code.
⚠️ **IMPORTANT**: The beneficiary's English name entered on the transfer form MUST EXACTLY MATCH the English name registered on their Korean bank account (including spelling, spacing, and word order). Mismatches frequently result in funds being held pending review or returned.