Sending money to family abroad or tuition to a student overseas — "how much gets eaten in fees?" is always fuzzy. The catch: the visible transfer fee isn't the whole story. Add the hidden exchange-rate margin (spread) and the real cost is much higher.
Enter your amount and rate, and this calculator shows what the recipient actually receives and your total cost, comparing bank branch, bank app, and money-transfer services.
Loading live rates…
| Method (assumed) | Received | Total cost (won) |
|---|
Auto-calculates. Applied rate = base × (1 + margin%); received = (KRW sent − fixed fee) ÷ applied rate − receiving fee. Total cost is the loss vs the base rate. Rates and fees vary by bank and time — enter your real terms. The base rate updates around 11:00 KST on business days; weekends/holidays use the previous business day.
Remittance cost has five layers
The on-screen "transfer fee" is just the tip.
| Item | What it is | Rough (2026) |
|---|---|---|
| Transfer fee | Sending bank's base fee | 5,000–25,000 won (by tier) |
| Wire fee (SWIFT) | Message-sending cost | ~8,000 won each |
| Intermediary fee | Correspondent bank's cut | ~USD 15–20 |
| Receiving-bank fee | Recipient bank's cut | Varies |
| FX margin (spread) | Buying FX above the base rate — hidden | ~1% for transfers |
The real trap is the last one. A 1% margin on 5,000,000 won is 50,000 won by itself — invisible, so more dangerous.
How it's calculated
Applied rate = base rate × (1 + margin%)
Received = (KRW sent − fixed fee) ÷ applied rate − receiving fee
Sending 5,000,000 won in USD (base 1,380) at 1% margin: applied rate 1,393.8, minus a 13,000-won fee, yields about $3,578 vs a theoretical $3,623 — a total cost near 62,000 won (1.25%). A branch (1.75% + 33,000) costs ~118,000; a service (0.4% + 5,000) ~25,000 — a ~90,000-won swing.
Methods differ a lot
| Method | Trait |
|---|---|
| Bank branch | Highest fees and margin; convenient but priciest |
| Bank app/online | Fee discounts + FX preferential (margin off 50–90%) |
| Transfer service | Trims middle margin; strong for small/specific corridors |
Frequent small sends favor low fixed fees; large one-offs favor low margin. See also overseas card fees.
Limits of this tool
- The base rate auto-loads live from Korea Eximbank (previous business day on weekends/holidays). Margins and fees vary by provider — enter them to compare.
- Intermediary/receiving fees vary by route and currency (example only).
- Preset margins/fees are typical assumptions.
FAQ
Is "no fee" free?
No — a waived fee is often recovered via FX margin. Compare by the received amount.
What's best for large amounts?
Margin dominates on large sends, so a low-margin option often wins even with a higher fixed fee.
Where do I find the base rate?
Your bank/portal FX screen — the gap between the base rate and the "send" rate is the margin.
The real cost hides in the FX margin, not the fee. Compare by received amount and switching method alone saves tens of thousands of won.
This is a general estimate, not financial advice. Confirm actual terms before sending. See also how to send money cheaply and the truth about FX spread.
