Whether it is your first time sending money overseas or if you have been an adept user of international money transfer services, you will need to read this. You will not only learn new ways through which you can make your transfers but also better, faster, safer and more efficient means. When it comes to money, the best deal is what everyone wants and this is the precise information we are offering here at Exchange Rate IQ.
About USD and KPW
Many US migrants are living in South Korea and thus require constant remittance of money from their families and friends in the US. Also, numerous businesses and trade deals take place between US and South Korea and this requires frequent remittance of money between these states, either to pay employees or to purchase goods. In the year 2017, 2.8 billion US Dollars were transferred to South Korea as stated by the World Bank. It will therefore prove important that you know which service providers make this happen if you wish to take part in the trade.
The best way to send money from US to South Korea
The already mentioned grounds are just but a few of the very many reasons you would wish to transfer money from the US to South Korea. However, the main aim of doing your research is in finding out:
- If there are better options than the ones you are currently using
- If there are faster and cheaper options
- New options in the foreign exchange market
- The exchange rates offered by different service providers.
According to authentic research from our well-endowed team, we have found out that the best service providers are:
TransferWise: it is the number one company to use when sending your money from US to South Korea. It offers very affordable rates and fees as well as a simple to use platform through which you can send your money. With its high daily transfer limits of $50,000, you can adjust your transfer plan accordingly and get to enjoy the best rates offered by TransferWise.
The other two options available for this type of transfer are direct cash service providers that are similar namely Travelex and Western Union. They operate on a direct cash delivery basis as they have different pick-up points that are well distributed all over the world, including South Korea. They both offer instant cash delivery or may take longer if you choose home deliveries. Bottom line is, they are very secure and therefore internationally trusted by most people. It is safe to say that Travelex and Western Union are a good choice when sending your money from US to South Korea.