Send Money to South Korea from the USA: Cheapest Ways in 2026
Money sent to South Korea, whether for family, tuition or rent, almost always lands in a Korean bank account. Which service costs least depends on the amount, and this guide prices them side by side on today's data.
The Short Answer
Send through a money transfer app, not through your bank. On a $500 transfer, the cheapest standing price in our current data is Instarem at about $3.49 all-in, then Revolut at about $3.56 and Taptap Send at about $4.85. In our current data the cheapest standing price changes with the amount: Instarem from $200 to $500, then Revolut at $1,000, then Instarem at $5,000. Almost every transfer to South Korea goes into a bank account, which is what these prices are for.
The one option to skip is a bank wire. US banks charge up to $75 to send it and a correspondent bank typically takes about $20, before an exchange-rate markup the banks don’t publish. In our current data the cheapest standing price for the same $1,000 is $6.14 all-in, through Revolut.
A "no fee" transfer can still cost you through a marked-up exchange rate. The number that matters is how many won reach your family for your dollars, so compare that on two or three services before you send.
Compare Live Rates & Fees
Compare Money Transfer Services
Sending 1,000.00 USD → KRW from the US · Estimated typical cost · bank deposit, bank-funded
Showing 11 of 17 services we can price for USD → KRW
Estimates only, not live quotes. "Recipient Gets" is for a bank deposit funded from a bank account, on today's mid-market rate: for a "provider quote", minus the rate markup and fee from that provider's own recent quote; for an estimate, minus the provider's typical markup and fee. Rows are ranked by total cost, the fee plus the rate markup, so a fee charged on top of the amount sent counts against a provider even when its recipient gets more. Real cost varies by corridor, amount, delivery and payment method, and promotions (e.g. new-customer offers can be cheaper). Tap a provider to get its live rate before sending. The dot by each provider shows confidence, and the label says how the figure was grounded: "corridor estimate" is a rate we measured for this exact pair; a currency-code estimate (e.g. "USD estimate") is measured for that source currency but not this destination; "typical estimate" is the provider's general figure across all its corridors; "provider quote" is that provider's own recent quote for this pair, its markup and fee applied to today's mid-market rate exactly as its calculator shows them, and a provider whose quote depends on a payment or delivery choice is left out here and priced on its own calculator. Margins are verified against live provider quotes and the World Bank Remittance Prices database; the date above is the most recent collection. Some “Send money now” buttons are partner links: we may earn a commission if you sign up, at no cost to you, and rows are ranked by cost whatever the link. See how we collect these prices and our advertising disclosure.
The Cheapest Services Compared
All-in cost: the fee plus whatever is taken in the exchange rate, measured against the mid-market USD/KRW rate at the moment each provider quoted. Prices collected October 26, 2026.
| Service | Cost shape | $200 | $500 | $1,000 | $5,000 |
|---|---|---|---|---|---|
| RevolutDelivered by bank transfer | 0.38–0.56% rate + $0.75–$27.50 | ≈$1.83 | ≈$3.56 | $6.14 | $46.59 |
| InstaremPaid by ACH/Direct Debit | 0.64–0.70% rate, no fee | ≈$1.39 | ≈$3.49 | $6.97 | $31.86 |
| Wiserate ref differsDelivered by bank deposit, paid by connected bank account (ACH) | -0.06% rate + $3.62–$38.40 | ≈$3.51 | ≈$5.52 | $8.87 | $35.62 |
| Taptap Send | 0.97% rate, no fee | ≈$1.94 | ≈$4.85 | $9.70 | $48.51 |
| Remitly | 0.74% rate + $2.49 | ≈$3.96 | ≈$6.18 | $9.89 | $39.58 |
| MoneyGram | 1.24% rate + $1.99 | ≈$4.44 | ≈$8.16 | $14.35 | $63.88 |
| Western UnionDelivered by direct to bank, paid by bank account | 1.49% rate + $0.99 | ≈$3.95 | ≈$8.42 | $15.86 | $75.41 |
| Ria Money TransferDelivered by bank deposit, paid by bank account | 1.48% rate + $2.00 | ≈$4.94 | ≈$9.39 | $16.80 | $76.14 |
| Paysend | 1.70% rate + $1.99 | ≈$5.36 | ≈$10.46 | $18.96 | $86.95 |
| XoomDelivered by bank deposit, paid by bank account (ACH) | 2.42–2.92% rate + $0.00–$4.99 | ≈$10.68 | $19.42 | $24.17 | — |
| OFX | 3.53–4.01% rate, no fee | — | — | $40.15 | $176.56 |
From our current data, collected October 26, 2026, for a transfer from the US paid from a bank account and delivered to a bank account. Wise’s prices from the US are for paying it from a connected US bank account (ACH). Wise also takes payment by wire transfer, at a different fee. A dash means the provider has no quote at that amount whose fee and rate we can state. ≈ marks a price between two amounts the provider quoted, where its fee and rate are known to hold. How we collect these prices.
Revolut, Instarem, Xoom and OFX charge a different rate margin at different amounts, so their costs can fall as the amount rises rather than climbing steadily.
- We hold no current quote for this route from BOSS Money, Pangea, Sendwave, WorldRemit and XE.
All-in cost in US dollars on the USD/KRW corridor, paid from a US bank account into a Korean bank account. Green marks the cheapest standing price at that amount. A promotional price is shown and labelled but never marked cheapest, because it is not what a returning customer is quoted.
One option is missing from the table because it is not really competing: a bank wire. US banks charge up to $75 to send a $1,000 wire (their published fees, checked October 2026) and a correspondent bank typically takes about $20, before an exchange-rate markup the banks don’t publish and that we could not check on this route, against $6.14 for the cheapest standing price in the table.
Check the exact fee on your amount with any of these calculators:
Delivery: Bank Deposit and Other Options
A bank deposit is the usual way for money to arrive in South Korea:
- Bank deposit:
- straight into an account at a Korean bank such as KB Kookmin, Shinhan, Hana or Woori. It is what the table above prices, and it usually clears within one to three business days.
South Korea's real-name banking rules tie every account to its holder's legal name, so enter the recipient's name exactly as their bank has it, along with the bank and account number. A mismatch can hold the transfer up.
The USD/KRW Exchange Rate
Most of the cost hides in the exchange rate, not the fee. The real mid-market USD/KRW rate stood at 1,324 won per dollar on October 27, 2026. The won moves with trade and global markets, so the rate on the day you send matters. On top of that, a service that pads the rate by 2%-3% takes more than whatever fee it advertises.
Send $1,000 and a 3% markup quietly costs you roughly 40,000 won (about $30), money that never reaches your family. Judge each service on the all-in figure in the table above, which counts the markup and the fee together, and check the live rate before a larger send.
The 2026 US Remittance Tax
A quick note on one new charge. The US has levied a 1% federal excise tax on remittances since January 1, 2026, but only when a sender pays with cash or a money order. Pay from a US bank account, a debit card or a credit card and it does not apply.
For most transfers to South Korea this never comes up, because they are sent online from a bank account or card. It applies only when you hand over cash at a storefront counter. (Tax rules can change; confirm your own situation before a large send.)
How to Pay the Least
- 01Pay from your bank account. It is usually the cheapest way to fund a transfer, and it keeps you clear of the 1% tax on cash-funded sends.
- 02Compare the won that arrive. The exchange-rate margin is usually the bigger cost, so line up what each service delivers rather than its fee.
- 03Get the account details exactly right. The name must match the Korean account, or the transfer can be held while the bank checks it.
- 04Send more, less often. A flat fee weighs less on a bigger transfer, so one larger send beats several small ones.
- 05Treat a first-transfer deal as a one-off. Some services sweeten the first transfer. Use it, then compare again before the second.
Frequently Asked Questions
What is the cheapest way to send money to South Korea from the USA?
A money transfer app paid from your US bank account, not a bank wire. On a $500 transfer, the cheapest standing price in our current data is Instarem at about $3.49 all-in, then Revolut at about $3.56 and Taptap Send at about $4.85. In our current data the cheapest standing price changes with the amount: Instarem from $200 to $500, then Revolut at $1,000, then Instarem at $5,000. Skip bank wires. They cost up to $75 in fees, plus a rate markup banks don’t publish.
What details do I need to send money to a Korean bank account?
The recipient's full name exactly as the bank has it, the name of their bank and their account number. Korean accounts have no IBAN; a bank wire also needs the bank's SWIFT code, which a transfer app usually looks up for you.
Can my family in South Korea collect the money as cash?
Rarely. Almost every transfer to South Korea goes into a bank account. None of the services we track prices cash pickup there in our current data.
How long does it take to send money to South Korea?
Card-funded transfers to a Korean bank account are often ready within minutes. A transfer paid from your US bank account is usually cheaper and tends to take one to three business days.
Is there a tax on sending money to South Korea in 2026?
Since January 1, 2026 the 1% US federal excise tax has applied only to remittances paid with cash or a money order. Pay from your own US bank account or with a US debit or credit card and it does not apply to your transfer.
What is the USD to KRW exchange rate?
On October 27, 2026 the mid-market USD/KRW rate stood at 1,324 won per dollar. With well over a thousand won to the dollar, a markup is easy to miss in the rate, yet a 2%-3% markup takes a real share of what you send. Compare the won each service delivers, not its fee.
Key Takeaways
- In our current data the cheapest standing price changes with the amount: Instarem from $200 to $500, then Revolut at $1,000, then Instarem at $5,000. Methods change the price, so check your own amount and method in the calculators.
- Send to a Korean bank account, with the name exactly as the bank has it. Avoid bank wires, which cost up to $75 in fees, plus a rate markup banks don’t publish.
- Fund the send from a US bank account or card, and the 2026 1% cash-only remittance tax doesn't apply to it.
- The rate decides the total (1,324 won to the dollar on October 27, 2026): a 3% markup on a $1,000 send quietly costs about 40,000 won (~$30).
Send Smarter to South Korea
Getting money to South Korea is easy; paying too much for it is easier still. Pick the service with the best all-in figure for your amount, fund it from your US bank, and more won will reach the account than a bank wire or a marked-up "free" transfer would deliver.
Calculate Your Transfer to South Korea
See the real fee and how many won land before you send.
Related Calculators & Guides
Every fee on an international transfer, from the exchange-rate markup to card, cash pickup and bank wire charges, and how to see the real price.
How to send money from the US to Turkey in 2026: the main services compared, bank deposit and cash pickup, real USD/TRY rates, and the remittance tax.
Price a Wise transfer to South Korea on your own amount.
A bank deposit in South Korea, priced on your own amount.
Sources & References
Provider pricing and exchange rates are set by the companies named and can change. Figures in this guide are checked against these official sources. Always confirm the live rate before you transact.