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You can remit USD to overseas beneficiary account.
√ Eligibility
Residents and non-residents (including corporation sole proprietors)
√ Transaction Type
Foreign payments permitted under the Foreign Exchange Transactions Act
√ Transfer Limit
- Payment for residents that neither requires you to report to the FX authorities nor submit a certificate of payment: Up to the amount of less than USD50,000.
- Payment of domestic income, etc. for foreigners and non-residents: You can remit up to USD50,000 per year without submitting a document to prove the income source. Also, you can remit more than USD50,000 per year by submitting a document to prove the income source of the funds to be transferred.
- Overseas Students: No limit
- Other foreign payments permitted under the Foreign Exchange Transactions Act: You can remit your money up to the amount specified in a document proving the legitimacy of the foreign payment.
√ Fees & Charges
* As of Apr 2023
* You should submit a passport and a document confirming your overseas studies to make overseas student transfer.
* This information was provided in Apr 2023, 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.
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