The banking information that you receive in the payment instructions is for “domestic bank transfer in KRW.” All KRW payments are required to be paid via domestic bank transfer from commercial banks in Korea.
Payment methods available for bank transfers
- Mobile banking
- Visit your branch in person
How to make a bank transfer
Please note that Flywire’s account for KRW domestic payments is a virtual bank account number. It is important to transfer the exact amount that appears on your payment request as the virtual account will be automatically activated in your banking system only after the correct amount is entered.
You will not be able to check the beneficiary name by auto-scan with our virtual account number in your banking system unless the correct payment amount is entered. Once you have entered the correct payment amount and the virtual account number, you will be able to scan the beneficiary name.
The virtual account number is for one-time use only and cannot be used after the expiry date indicated in the payment instructions. Please do not re-use the account number if you have already used it once before.
Payment tracking and delivery
Regarding your payment, please allow 2–3 business days for us to receive the payment from the date your bank releases the funds. Please keep in mind that business days do not include Saturdays, Sundays, and bank holidays. If your payment was sent less than three business days ago and we have not yet received it, do not worry!
To keep you updated on your payment status, we will send you two confirmation emails: one informing you that your funds are credited into our account and another letting you know your institution has received the payment. You will also receive status updates via text if you opted into the service while creating your payment request.