Korea, Republic of
Overview
| Payment method | Local | SWIFT |
|---|---|---|
| Supported currency(ies) | KRW | AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR |
| Payment Scheme | HOFINET | |
| Flight time (business days) | 0-1 | 0-3 |
| Maximum transaction limit | 1,000,000,000 KRW | No limit |
| Ultimate payer displayed | Yes |
Please refer to the sections below for the key required bank details and other considerations for each supported payment method.
Local KRW payout
| Required fields | Permitted Data | Notes |
|---|---|---|
account_currency | 3-letter ISO 4217 currency code | Should be KRW |
account_name | 2-200 alphanumeric characters or punctuation only | Account holder name of the recipient’s bank account, not in Korean (Hangul) characters |
account_number | 7-16 alphanumeric characters | |
account_routing_type1 | bank_code only | This is a 3-digit number to identify a Korean bank |
account_routing_value1 | 3 digits | |
bank_country_code | 2-letter ISO 3166-2 country code | Should be KR |
SWIFT payout
| Required fields | Permitted Data | Notes |
|---|---|---|
account_currency | 3-letter ISO 4217 currency code | One of AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR |
account_name | 2-200 characters | Account holder name of the recipient’s bank account |
account_number | 7-16 alphanumeric characters | |
swift_code | 8-11 alphanumeric characters | Should be a valid and supported BIC-8 or BIC-11 code |
bank_country_code | 2-letter ISO 3166-2 country code | Should be KR |