●■●● Best Way to Send Money to Korea for Tuition and Living Expenses
[ⓒ한국관광공사 포토코리아-수원화성/ 김지호]
●●🟧 Common Questions from Families of International Students
●✅ Many parents need to send money to Korea for tuition or living expenses for their children studying abroad.
At first, they may think using a local bank transfer is enough, but in reality, bank fees are high and delays are frequent.
To ensure students can continue their studies and life in Korea smoothly, choosing the right remittance service to Korea is very important.
▶ Most international students already have a bank account in Korea under their own name
▶ Parents usually transfer money directly into this account
▶ Depending on the platform, there can be huge differences in transfer fees and processing time
📌 Specialized international money transfer services are far more cost-effective and faster than using regular banks.
●●🟧 How Fees and Exchange Rates Affect Student Budgets
●✅ For example, sending 1,000 USD to Korea:
Using a regular bank may cost 30–50 USD in fees, and additional deductions by intermediary or receiving banks can further reduce the final amount received.
By contrast, with services like Wise or WireBarley, fees are only about 3–7 USD, with transparent exchange rates applied.
▶ If transfers are made regularly, not just once
▶ The accumulated annual fee difference is significant
▶ This directly affects both tuition payments and living expense budgets
📌 A strategic transfer method is necessary, not just for speed and accuracy, but also for long-term savings.
[ⓒ한국관광공사 포토코리아-서울 강남역 / IR스튜디오]
●■●● Comparing Global Remittance Platforms
– Wise, WireBarley, Remitly, Western Union
●●🟧 Key Differences Between Transfer Methods
●✅ When sending money to Korea from abroad,
the choice of platform makes a big difference in fees, exchange rates, and transfer time.
Specialized platforms are more cost-efficient than banks, and the recommended service can differ by country.
▶ Wise, WireBarley, Remitly, and Western Union are the most widely used global transfer platforms
▶ Each has different fee structures, exchange rate applications, and user experiences
📌 Always choose a platform that matches your purpose (tuition, living expenses) and recipient’s needs.
●●🟧 Wise – Transparent Exchange Rates and Low Fees
●✅ Wise applies the real mid-market exchange rate, minimizing hidden costs.
You can clearly check the fee and the final amount the student will receive in KRW before sending.
▶ Widely used in Europe, the US, and Southeast Asia
▶ User-friendly app with strong multilingual support
📌 Wise is the most recommended option if you want cheap remittance to Korea with clear exchange rates.
●●🟧 WireBarley – Optimized for Asia
●✅ WireBarley is specialized in sending money to Korea, Vietnam, the Philippines, and other Asian countries.
▶ Frequently used by foreigners in Korea sending money back home
▶ Known for low fees and stable transfer speed
📌 A practical choice for Southeast Asia and India remittances.
●●🟧 Remitly – Cash Pickup and Mobile Money
●✅ Remitly offers more than just bank account transfers.
It supports cash pickup and mobile wallets (e.g., GCash), giving more flexibility for recipients.
📌 If the student or family does not have a bank account, Remitly is the best option.
●●🟧 Western Union – Traditional Global Network
●✅ Available in nearly every country worldwide
▶ However, fees and exchange rate margins are relatively high
▶ Bank account transfers may take several days
📌 Still useful in countries where other platforms are not available.
●■●● How International Parents Can Send Money to Korea – Step by Step
●●🟧 1. Parents (Senders)
– Account Creation and Transfer
●✅ Parents must first create an account with a remittance platform in their country.
Wise, Remitly, and WireBarley allow registration via email or phone, and ID verification (passport or government ID) may also be required.
▶ Confirm the transfer amount and fees in advance
▶ Send funds from the parent’s bank account to the platform
▶ The platform then automatically delivers KRW to the student’s Korean bank account
📌 Parents need to register with the platform and deposit money before the system transfers to Korea.
●●🟧 2. Students (Recipients)
– Only Bank Account Details Needed
●✅ Students in Korea do not need to register separately.
▶ They only need to provide their Korean bank account number and account holder’s name (Korean/English) to the sender
▶ The deposit is processed automatically, and some platforms send SMS or email notifications
📌 As long as the student has a Korean bank account, they can receive the transfer with no extra steps.
●■●● Tuition Fee Payments or BP Korea Service Fee Transfers – Important Instructions
●●🟧 Student Name Must Be Written in Reference Field
●✅ Even if the transfer is under the parent’s name,
the student’s English name must be entered in the “Reference” field for proper confirmation.
📌 Example: Kim Minji, Lee Junwoo
※ Include spaces, and match the exact spelling as in the passport
📌📌 After completing the transfer, please email BP Korea with the parent’s name, transfer amount, and date for faster confirmation.
●■●● Recommended Remittance Systems by Region
– Best Way to Send Money to Korea
●✅ Asia
▶ Vietnam, Thailand, Bangladesh, India, Singapore, Mongolia – WireBarley, Wise recommended
▶ Philippines – WireBarley, Remitly recommended
▶ Sri Lanka, Pakistan – Wise, Remitly recommended
▶ Indonesia, Malaysia, Cambodia, Myanmar, Laos, Brunei, Maldives, Bhutan, Nepal, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, China, Japan, Hong Kong, Taiwan, United Arab Emirates (UAE), Bahrain, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia – Wise recommended
▶ East Timor, Papua New Guinea, Iraq, Palestine, Syria, Yemen, Iran, Turkmenistan – Western Union recommended
●✅ Africa
▶ Egypt, Morocco, Algeria, Tunisia, Ghana, Senegal, Côte d’Ivoire, Mali, Burkina Faso, Guinea, Sierra Leone, Togo, Benin, Liberia, Gambia, Cape Verde, Guinea-Bissau, Niger, Cameroon, Chad, Republic of the Congo, Democratic Republic of the Congo, Gabon, Equatorial Guinea – Wise recommended
▶ Kenya, Tanzania, Uganda, Rwanda, Burundi, Ethiopia, South Africa, Namibia, Botswana, Zimbabwe, Lesotho, Eswatini, Zambia, Malawi, Mozambique, Angola – Wise recommended
▶ Eritrea, Djibouti, Somalia – Western Union recommended
▶ Libya, Sudan, Central African Republic, São Tomé and Príncipe – Western Union recommended
▶ Nigeria – Wise, WorldRemit recommended
●✅ North America
▶ United States, Canada – Wise recommended
●✅ Central America
▶ Mexico, Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica, Panama – Wise recommended
▶ Belize – Wise, Remitly recommended
●✅ Caribbean
▶ Dominican Republic, Jamaica, Trinidad and Tobago, Bahamas, Barbados, Saint Lucia, Grenada – Wise recommended
▶ Cuba, Haiti – Western Union recommended
●✅ South America
▶ Brazil, Argentina, Colombia, Chile, Peru, Bolivia, Ecuador, Paraguay, Uruguay, Venezuela – Wise recommended
▶ Suriname, Guyana, French Guiana – Wise, Remitly recommended
●✅ Oceania
▶ Australia, New Zealand, Fiji – Wise recommended
●✅ Europe and Israel
▶ Poland, Romania, Hungary, Bulgaria, Slovakia, Czech Republic, Serbia, Croatia, Slovenia, North Macedonia, Montenegro, Bosnia and Herzegovina, Albania, Moldova, Georgia, Estonia, Latvia, Lithuania, Armenia, Azerbaijan, Russia, Ukraine, France, Germany, Belgium, Netherlands, Luxembourg, Austria, Switzerland, Ireland, Northern Ireland, Wales, Scotland, England, Italy, Spain, Portugal, Greece, Cyprus, Malta, San Marino, Andorra, Sweden, Norway, Denmark, Finland, Iceland, Israel – Wise recommended
📌 Most European countries allow you to send money to Korea quickly and cheaply using Wise.
With transparent exchange rates and low fees, most transfers are completed within one business day.
Israel is also included under Wise’s European pricing group, meaning transfers are processed reliably in the same way.
Therefore, if you live in Europe or nearby regions, Wise is the most efficient choice for international student tuition payment or family remittance to Korea.
This article introduces the cheapest and most convenient remittance platforms for parents and students who need to send money to Korea for tuition and living expenses.
For students in Korea who need to send money back to their home country, you can also use Wise or a regular Korean bank.
Be sure to select “personal transfer” as the remittance purpose, and it will be processed without issue.
Since exchange rates and fees vary by country, always confirm the exact transfer amount on the platform before sending.
●■●● Complete Guide to Payment Systems for Foreigners in Korea
●●🟧 Payment Challenges for International Students and Residents
●✅ Korea is one of the most cashless societies in the world, with an extremely high adoption rate of credit cards, debit cards, and mobile payments.
Cash use is steadily declining, and most shops, transportation, and online services prioritize card or mobile payment.
▶ Foreigners must prepare at least one form of card or mobile payment for daily convenience
▶ With an Alien Registration Card (ARC), you can open a Korean bank account and issue a card
▶ Short-term visitors may use foreign cards (Visa, MasterCard, UnionPay), but with limited acceptance
📌 To live in Korea smoothly, opening a bank account and getting a personal debit or credit card is essential.
●●🟧 Credit Cards vs. Debit Cards in Korea
●✅ Debit Card (체크카드)
▶ Can only be used within the account balance
▶ Easy to issue with ARC + bank account
▶ Most international students and new foreigners start with debit cards
●✅ Credit Card (신용카드)
▶ Foreigners with little credit history may face restrictions
▶ Issuance is possible with longer stay, income proof, or guarantor
▶ Some banks only issue international brands (Visa, MasterCard)
📌 For foreigners, debit cards are the most realistic and widely used option, while credit cards are usually for long-term residents or employees.
●●🟧 Using Foreign Credit Cards in Korea
●✅ Major international brands such as Visa, MasterCard, American Express, and UnionPay are generally accepted.
▶ However, some small shops, government kiosks, or transit recharge machines may not accept foreign cards
▶ Avoid Dynamic Currency Conversion (DCC) when paying, as it often adds extra fees
📌 Foreign cards are useful for emergencies or during the initial settlement, but long-term residents must obtain a Korean card.
●●🟧 Mobile Payment Systems in Korea
●✅ Korea has one of the most advanced mobile payment ecosystems in the world.
▶ KakaoPay, NaverPay, Samsung Pay, and Apple Pay are the major options
▶ Most require a Korean bank account or card to link
→ KakaoPay / NaverPay → Online shopping, offline QR code payments
→ Samsung Pay → Public transport, convenience stores, supermarkets (NFC + MST supported)
→ Apple Pay → Available at select merchants, but compatibility is still limited in Korea
📌 After opening a Korean bank account and debit card, registering with KakaoPay and NaverPay is the most practical choice.
●●🟧 Korean University Students – Cashless Lifestyle
●✅ Most Korean university students rarely use cash.
▶ Meals, transport, and shopping are almost entirely done via cards or mobile payments
▶ Debit and credit cards usually include transport card functionality
▶ Many students register their cards on smartphones and pay simply by tapping their phone
📌 Foreigners with a visa can open accounts and use the same system, making life in Korea much more convenient.
●●🟧 Transportation Cards
(T-money, Mobile Transit Cards)
●✅ All buses, subways, and taxis in Korea can be paid with transit cards.
▶ T-money cards can be purchased and recharged at convenience stores or subway stations
▶ Most debit/credit cards include transport card features
▶ Mobile transit cards (Samsung Pay, T-money app) allow direct payment via phone
📌 Short-term visitors should use T-money cards, while long-term residents benefit from debit cards with transit features.
●●🟧 Online Payments and Authentication
●✅ Most Korean online platforms and e-commerce sites require identity verification.
▶ With an ARC, foreigners can use phone and account verification
▶ Some sites do not accept foreign cards
📌 To use major apps like Coupang or Baemin (food delivery), foreigners will need a Korean bank account and phone number.
●●🟧 Cash Usage
●✅ While cash is less common in Korea, some traditional markets and small shops still only accept cash.
▶ Foreigners can withdraw KRW from ATMs with their bank card
▶ Opening a bank account and withdrawing directly in KRW is cheaper and safer than currency exchange shops
📌 Although Korea is card and mobile-payment centered, keeping a small amount of cash is always useful.
●■●● Conclusion
– Essential Payment Tools for Foreigners in Korea
●✅ Korean bank account + debit card (with transport function)
●✅ KakaoPay / NaverPay mobile payment registration
●✅ T-money transit card (short-term visitors)
●✅ Foreign credit card for emergency use only
📌 Korea is a card-first, mobile-payment society, so foreigners should prioritize opening a bank account and issuing a debit card as soon as possible.
📌 BP Korea also provides support for bank account setup and card issuance for international students.
●■●● Additional Guidance for International Remittance
●●🟧 Country-Specific Transfer Regulations
●✅ Some countries impose strict foreign exchange controls, limiting remittance amounts or requiring additional documents.
▶ Example: China – Annual remittance limit
▶ India – Requires tax reporting
▶ Nigeria – Possible delays due to foreign exchange shortages
📌 Don’t just choose a platform—check your home country’s remittance regulations to avoid rejection or delays.
●●🟧 Transfer Speed Comparison – When Time Matters
●✅ Beyond fees, speed is a key factor for urgent tuition or rent payments.
▶ Wise – Usually within 1 business day
▶ Remitly – 1–2 days for normal transfers, a few hours with express option
▶ Western Union – Immediate cash pickup, but bank deposits may take several days
📌 Use express transfer options if tuition deadlines are near.
●●🟧 Security of Global Remittance Platforms
●✅ Leading transfer services are licensed and regulated by financial authorities.
▶ Wise – Regulated by the UK’s FCA
▶ Remitly – Registered with the US FinCEN
▶ WireBarley – Licensed by the Korean Financial Services Commission
📌 Always use official, regulated platforms to avoid financial risks.
●●🟧 BP Korea Remittance Verification Service
●✅ BP Korea not only supports visas but also assists with tuition payment confirmation and proof of transfer.
▶ If student deposits are unclear, BP Korea can coordinate with schools
▶ Provides guidance if remittance issues occur
📌 After completing a transfer, please notify BP Korea by email with parent’s name, transfer amount, and date for faster verification.
●■●● About BP Korea – Your Trusted Partner in Korea
●●🟧 Who We Are
📌 BP Korea specializes in supporting international students and professionals who are starting a new life in Korea.
From visa applications (D-4, D-2, and more) to university admission, bank account setup, tuition remittance, and card issuance – we provide end-to-end assistance.
●●🟧 Why Choose BP Korea
●✅ Reliable consulting tailored to international students
●✅ Guidance for safe money transfers and tuition verification
●✅ Support for housing, settlement, and administrative services
📌 With BP Korea, living and studying in Korea becomes safer and easier.
●●🟧 Contact Information
→ Official Website: https://bridgeplankorea.com/
→ Email: visa@bridgeplankorea.com
📌 Feel free to reach out for consultation – we are here to support you at every step of your journey to Korea.
●●🟧 Translation Note
✅ This article has been prepared using a multi-language translation system. While every effort was made to ensure natural readability, some expressions may not be perfect.
📌 For accurate, case-specific, and personalized consultation, please contact BP Korea directly.
