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Saturday, March 25, 2017

[Life in Korea] SodaTransfer! - Easiest, cheapest way to transfer money USA <--> Korea

SodaTransfer! <-- click here to get a free transfer/transaction! (save up to $45)

I just found out about this service! This is one of the cheapest and most secure ways to transfer money between Korean and American bank accounts. It's perfect for foreign workers and international/exchange students living in Korea.

I have been sick and tired of losing so much money transferring money between my Korean and American bank accounts and also suffering the loss because my Korean bank account has terrible rates (I do not recommend Woori Bank for your Korean banking needs as a foreigner).

Right now, the service only works between the USA and Korea (and vice versa).

It's quite easy and the customer service is super responsive and helpful/accommodating.

For example, my Korean bank account is registered in my Korean name, but my American name is my legal name everywhere else in the world (yet another Korea problem) and is the only one that appears on my passport/bank account details, etc.

They were quick to offer a solution.

Then, the problem didn't stop there. Woori capped my account at 1 million KRW transfer per day and they were willing to wait for me to send money over the course of three days and honored the first day's rate.

The one downside, you are capped at $20,000 per year and also 3 million KRW per transfer.
It also makes math confusing...because I think they did the whole 1000 KRW = 1 USD in determining the cap.

Anyway, try it out! Sodatransfer waived transfer fees (save up to $45)

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