Here’s what you need in order to send money from Korea to the UK — the recipient details, how fees and exchange rates are applied, the limits that apply to foreign residents, and how long the money takes to land.
Key points
- ✅ You don’t need an IBAN. A sort code and an account number are enough for a UK transfer
- ✅ Sort code = 6 digits, account number = 8 digits. Both come off the recipient’s card, app, or statement
- ✅ If you’re a foreign resident in Korea, the guideline is USD 5,000 per transfer and USD 50,000 per calendar year
- ✅ The fee and the KRW→GBP rate that will apply are both shown before you confirm
If you’re living in Korea with a UK bank account still open, this comes up often enough — rent or a mortgage back home, family support, a student loan, or moving savings across while the rate looks reasonable.
UK bank details are refreshingly simple compared with most countries, but that simplicity throws people off: you go looking for an IBAN or a SWIFT code and there’s nowhere to put one. The questions below are the ones that actually come up, in the order you’ll hit them.
1. What details do I need to send money from Korea to the UK?
Four things: the account holder’s name, a 6-digit sort code, an 8-digit account number, and a UK address with a postcode. That’s the whole list.
| Field | What to enter |
|---|---|
| Account holder name | Exactly as it appears on the account |
| Sort code | 6 digits — written as 12-34-56 or 123456. Either format is the same number |
| Account number | 8 digits |
| Recipient address | Street address, city, and postcode |
What a sort code actually is. It identifies the bank and the specific branch where the account sits — the UK equivalent of the routing code other countries use. You’ll find it on the front of the recipient’s debit card, at the top of a statement, or under account details in their banking app, usually printed right next to the account number.
You don’t need an IBAN or a SWIFT/BIC code. Those are for transfers that travel over the SWIFT network. This transfer doesn’t, so the sort code and account number do the whole job. If you go hunting for an IBAN, you’ll waste time looking for a field that isn’t there.
The bank itself doesn’t matter much — as long as the account holder name, sort code, and account number are correct, the transfer goes through.
2. How much does it cost?
The fee depends on how much you’re sending, and you see it before you commit. Enter the amount in the app or on the web, and the fee and the exchange rate for that specific transfer appear on screen.
The rate refreshes roughly every 10 minutes and locks in the moment your application is completed — so the figure you agreed to is the figure you get, even if the market moves while the transfer is being processed.
3. How long does it take?
The transfer itself is quick. What varies is how fast the receiving bank posts it.
| Stage | Typical time |
|---|---|
| Document review | About 2 hours (longer at peak times) |
| Transfer processing | Average 2 hours, up to 1 business day |
| Credit to the recipient’s account | A further 1–3 business days, depending on the bank |
You’ll get a notification once the transfer completes, and you can track the status any time from the app or the web. Worth knowing: “completed” on your side means the money has left and been sent on — the recipient sees it when their own bank posts it, which is where most of the waiting happens. If the timing matters, ask them to confirm rather than assuming.
Because MOIN sends directly rather than routing through intermediary banks, there are fewer hand-offs along the way. Arrival still depends on the receiving bank, and delays outside anyone’s control do happen — so if the money has a deadline attached, send it with a few days to spare.
4. How much can I send from Korea to the UK?
Most foreign residents in Korea fall under the “foreigner” category. The guideline figures:
| Category | Annual cumulative limit | Per-transfer limit |
|---|---|---|
| Foreign residents | USD 50,000 | USD 5,000 |
| Korean nationals (for reference) | USD 100,000 | USD 100,000 |
Two things that catch people out. The annual count runs January 1 to December 31 — it doesn’t reset on your visa date or your arrival date, and it doesn’t roll over. And the same limits apply whether you’re sending as an individual or as a company.
Larger amounts are possible where there’s documentation behind the payment. A transfer backed by an invoice or a contract — a business payment rather than a personal one — falls under documented remittance, which is handled separately and allows higher amounts.
（Source: MOIN BizPlus）
5. Whose name do I send in, and which Korean account do I pay from?
Both have to be yours. The transfer is made in your own name — the person applying is the person sending — so your ID documents, your contact details, and the Korean account you pay in from all have to belong to you. You can’t send on behalf of a spouse, a friend, or an employer using their money and your account. That’s how Korea’s foreign exchange rules treat remittance, not a MOIN policy.
After you apply, you transfer the won into a dedicated deposit (virtual) account. This step has the most rules attached, and it’s where transfers usually stall:
- Pay from the Korean bank account you registered, using that bank’s mobile, internet, or telephone banking. Simple-payment services such as Toss Pay, Kakao Pay, and PAYCO can’t be used — those payments are automatically returned in full.
- Send from the account you verified with MOIN. You can change the verified account, but only during operating hours.
- Some accounts aren’t eligible: legacy account numbers from before a bank merger, and “lifetime account” services. IBK sole-proprietor accounts may not work either.
- Transfer the exact amount shown, down to the last won, within one hour.
- Bank counter and ATM deposits aren’t accepted.
- Check your own account’s daily and per-transaction caps first. Korean banks apply their own limits, and a large remittance can quietly exceed them.
6. What usually goes wrong?
Four things account for most failed first transfers to the UK.
- Mixing up the two numbers. Fourteen digits with no spaces between them is easy to fumble. Count them: sort code is 6, account number is 8. If one field has the wrong length, you’ve swapped or clipped something.
- Hunting for an IBAN. There’s no field for it because none is needed. Don’t paste an IBAN into the account number box.
- A name that doesn’t match the account. Use the name as the bank holds it, not a shortened version or a nickname — “Rob” won’t do if the account says “Robert”.
- Skipping the postcode. The recipient’s address needs to be complete, postcode included.
Sending to a different country instead? The fields change from one destination to the next — the US, for instance, needs a 9-digit ACH routing number and won’t accept a wire one.
👉 How to send money from Korea to the USA
7. Sending Money Abroad from Korea | MOIN International Transfers
Bank fees adding up, but the alternatives feel like a gamble? That’s the gap MOIN is built for.
Why people choose MOIN
- ✅ Your recipient doesn’t sign up for anything — the money lands in their bank account
- ✅ One app, whenever and wherever you need to send
- ✅ Direct transfers with no intermediary bank in the path
- ✅ Compared with a bank’s international transfer fees, you can keep the cost down
- ✅ A lighter load from exchange and fees, so more of what you send arrives
MOIN is a licensed international money transfer service registered with Korea’s Ministry of Economy and Finance. You can send from Korea to the United Kingdom and to countries around the world.
8. Blog-Only Coupon 🎁
A small thank-you for reading. Here’s a coupon that takes the fee down on your next international transfer — the UK, and everywhere else MOIN sends.
<Blog-only coupon>
- Coupon code: MOINEN
- Discount: KRW 3,000 off the transfer fee
- Eligible destinations: all supported countries
- Valid: 15 days from the date you claim it
Get Started with MOIN
MOIN makes international transfers simpler than a bank, and keeps the cost down. Transfers go direct, without intermediary banks, so there’s no cable fee and no intermediary or receiving bank fee to absorb. You can check the estimated arrival time for your transfer in the app.
