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Inward Remittance


If you have an ICBC Checking Account (KRW) and a check card, we will inform you of the transfer records and the foreign exchange rates via a phone call at times of the arrival of inward remittance to your account from overseas. Then, the KRW funds will be directly transferred to your account while the FX funds go through an automatic conversion to KRW funds before transferred into your account. Thus, there is no need for you to visit our branch to exchange currencies but you can easily withdraw the KRW funds from the ATMs using your check card.
 
√ Eligibility
Individuals (except sole proprietors)
√ Transaction Type
Transaction between individuals
√ Transfer Limit
Up to the amount of USD20,000 per person, per day, and per branch.
√ Fees & Charges
 
In case the Inward Currency is KRW Fees
Less than KRW 5 million KRW10,000 per transaction
KRW 5 million or more KRW20,000 per transaction
*As of 2015.06.15
* For other inward remittance currencies, no fee will incur under this transfer service.

 
√ Applied FX
The T/T buying rate of the branch at the time of informing the arrival of inward remittance
√ Notes
◎ Only transaction between individuals up to the amount of USD20,000 per person, per day, and per branch is allowed.
◎ The name of the beneficiary and the account must match those saved in the bank’s system.
◎ If we fail to reach you after 3 calls, then the inward remittance will be converted into KRW funds based on the T/T buying rates in effect at the time of the last call and transferred to your account.
◎ All the phone calls informing you of the inward remittance and foreign exchange rates will be recorded.
 
* This information was provided in Jun 2015, and thus, the actual business process will conform to the relevant regulations at the time of actual business.
* Please refer to the Terms & Conditions for details.