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FAQ
 

[Bank Card] How can I deposit money to my ICBC Korea account using the Be*Twin Check Card?
You can deposit money to your ICBC Korea account by following one of the steps as below:
1. Deposit cash or cheque into your account using the Be*Twin Check Card at a nearby ATM.
2. Wire-transfer your money using another commercial bank card at a nearby ATM. Select KB Kookmin Bank as the beneficiary bank and insert the KB Virtual Account number written on the Be*Twin Check Card.
3. Visit a commercial bank branch that offers inter-bank transfer and deposit your money by inserting either of the following information:
(1) Beneficiary Bank – ICBC Beneficiary Account – Checking Account (KRW) number opened at ICBC Korea branch.
(2) Beneficiary Bank – Kookmin Bank Beneficiary Account - KB Virtual Account number written on your Be*Twin Check Card 

[Remittance] I am a sole proprietor. Can I wire-transfer foreign currency?
Yes, you can.
As long as your foreign payments are permitted under the Foreign Exchange Transactions Act and you possess the contract and invoice signed by the beneficiary, you can transfer the money up to the amount specified in those documents.
If you are the representative of your own business, you should present the certificate of inscription and a certificate confirming your real name. If you are a proxy, you should present the certificate of inscription, certificate of seal impression, the sealed power of attorney, and a certificate confirming your real name.

[Remittance] How much is the FX remittance fee?                                 
 
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[Deposits] Is my foreign currency account eligible for the Depositor Protection Act?
Yes, it is. Not only the KRW deposits but also the FX deposits in your account is protected by the KDIC under the Depositor Protection Act. The KDIC coverage limit is up to 50 million won per depositor for the aggregate of all of his/her insured financial products with this bank including principal and designated interest.  

[Remittance] I’d like to receive money from overseas to my ICBC Korea account. What information should I give to the remitter? Name of the beneficiary, beneficiary account number, beneficiary’s phone number, full name of ICBC in English, and SWIFT CODE of ICBC Korea. Please refer to the following table for details.

Name of Beneficiary in English

The name written in the application form must be equivalent to the name registered with our bank.

Beneficiary Account Number

Number of a bank account opened at ICBC Korea branch (14 or 19 digits)

Beneficiary’s Phone Number

Phone number in effect

ICBC Full Name in English

INDUSTRIAL AND COMMERCIAL BANK OF CHINA *If necessary, please add the name of the branch, where you opened your account, in English. (SEOUL / BUSAN / DAELIM / KONKUK UNIV. BRANCH)

SWIFT CODE of ICBC Korea

ICBKKRSEXXX

* This information was provided for your reference only, and thus, the remitting bank may require further information based on its working standards.

[Remittance] Can I wire-transfer not cash but cheque in foreign currency?
Yes, you can. But the beneficiary may receive the money a day later than the cash remittance.  

[FX Rates] Where can I find the FX rates for remittance?
We provide ARS services of the FX rates for CNY Direct Remittance or USD Remittance. Please call 02-755-5688 and press 1. 

[Remittance] What beneficiary information do I need to provide for USD Remittance?
Name of the beneficiary in English, beneficiary account number, names of the beneficiary bank and the branch, and the Chinese ID number of the beneficiary.

[Remittance] What beneficiary information do I need to provide for CNY Direct Remittance?
Name of the beneficiary in Chinese, beneficiary account number, names of the beneficiary bank and the branch, the Chinese ID number of the beneficiary, and the Chinese address of the beneficiary  

[Bankbook & Card] Which documents do I need to prepare to open an account or issue a card?
If you are a Korean individual, you will need a certificate confirming your real name, e.g. a national ID card, a driver’s license, or a passport. If you are a foreign individual, you will need both the passport and the alien registration card in effect.

[Remittance] How long does it take for the beneficiary to receive the money after the remittance? It takes a couple of days on average if ICBC is the beneficiary bank, and 2~3 days on average for other banks. The exact time may vary depending on the working process of the intermediary and the beneficiary banks.

[Bank Card] Can I use my card issued at ICBC China branch to view and withdraw the money in my account at ICBC Korea branch?
No, you cannot. However, if you have a card with UnionPay logo, you can view and withdraw the money in your account at an ATM in the following commercial banks in Korea.
1. All ATMs
- Hana Bank, Woori Bank, Shinhan Bank
2. Global ATMs ONLY
- Korea Exchange Bank, KB Kookmin Bank, IBK Industrial Bank of Korea, Standard Chartered Bank Korea, Busan Bank, BNK Kyongnam Bank, Kwang Ju Bank, Daegu Bank, Jeju Bank
3. Fees when using ICBC card (as of Jun 2015)
- Viewing: CNY4 per transaction
- Withdrawal: Withdrawal*1% + CNY12 per transaction (min. CNY14 ~ max. CNY112)
4. Applied FX
- UnionPay FX in effect
* This information was provided for your reference (as of Jun 2015), and thus, please check with the UnionPay regarding the updated product information of UnionPay.

[Bank Card] Can I use my card issued at ICBC Korea branch in China?
No, you cannot. The Be*Twin Check Card cannot be used overseas (as of Jun 2015). But we plan to launch an overseas card service as soon as possible.

[Bankbook] Can I use my bank account opened at ICBC Korea branch in China?
No, you cannot. Deposits or withdrawals may be restricted in accordance with the Foreign Exchange Transactions Regulations or due to interstate network regulations.