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INT'L Banking Wire Transfer FAQs

1. How do I make a remittance to South Korea?
2. How do I make a domestic or foreign (excluding South Korea) remittance?
3. I want to receive a foreign remittance from Korea to United States. What should I do?
4. How do I make a remittance to Europe?
5. What are your wire transfer fees?


1. How do I make a remittance to South Korea?

Before you make a remittance, you will need to have certain, basic information of the beneficiary. You will need to have the beneficiary’s name, phone number, permanent address, account number, and the name of the financial institution the beneficiary’s account is held. By having this information on hand, it will expedite the remittance process. When Shinhan Bank, which is located in Seoul, receives the remittance, the bank first contacts the beneficiary and confirms its action, then deposits the money into the account. Should you have any questions regarding remittance charge, please contact your nearest branch for more information.

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2. How do I make a domestic or foreign (excluding South Korea) remittance?

Follow the same steps as you would when making a remittance to Korea, which is explained above. In order to expedite the process, the beneficiary’s name, account number, permanent address and phone number should be known. However, certain foreign banks also require you to be acquainted with the specific branch of the beneficiary’s bank. In this case, it would be helpful to be familiar with the specific name of the branch and its SWIFT code. Should you have any other questions regarding remittance charge, please contact your nearest branch for more information.

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3. I want to receive a foreign remittance from Korea to United States. What should I do?

To receive a remittance from foreign countries, you must have a bank account in the United States. The remitter should have the beneficiary’s account number, beneficiary’s phone number, beneficiary’s name, and the name of the beneficiary’s Financial Institution. Occasionally, the remitter’s bank will also ask you for the beneficiary’s bank’s ABA number or SWIFT code. Shinhan Bank America’s ABA number is 026011963. The SWIFT code is SHBKUS6LNYX for the New York area and SHBKUS6LCAX for the California area.

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4. How do I make a remittance to Europe?

To make a remittance to banks located in Europe, you must have an IBAN number, which is the international code number for Europe. By knowing the IBAN number, it will further quicken the process of the remittance. Listed below are some of the IBAN number’s categorized by its respective Countries.

IBAN No: 00 (country code) 00 (audit no.) 00000000 (bank no.) 00000000 (Beneficiary’s Account no.)
• Germany: DE43 500 800 00 00035766621 (22 DIDGIT)
• France: FR15 2004 1010 0505 0001 3M02606 (27 DIGIT)
• Italy: IT41 S054 2811 1010 0000 0123 456 (27 DIGIT)

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5. What are your wire transfer fees?

SHBA Customers (Sending)
• To Korea - $15
• Within U.S. - $20
• To Another Country - $20

SHBA Customers (Receiving)
• From Korea - $5
• From Other Country including U.S. - $5

Non-SHBA Customers (Sending)
• To Korea - $25 ($3,000 per month limitation applies for non-SHBA customers)

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