KB Kookmin Card Expands Overseas Remittance Countries to 10 in Southeast Asia and Europe

Easy and Affordable Overseas Remittance Using Visa Global Payment Network

[Asia Economy Reporter Oh Hyung-gil] KB Kookmin Card is expanding the countries available for its 'overseas remittance service' to 10 major countries in Southeast Asia and Europe.

On the 7th, KB Kookmin Card announced that it will implement the 'overseas remittance service' through Visa Direct in partnership with Visa.

This service allows simple and inexpensive overseas remittance by utilizing Visa's global payment network, requiring only the recipient's name and Visa card number.

Currently, the countries where remittance is possible via 'Visa Direct' are ▲Singapore ▲Vietnam ▲Thailand ▲Philippines ▲Malaysia ▲Indonesia ▲Cambodia ▲Germany ▲Spain ▲Russia, totaling 10 countries, with plans to expand to major countries worldwide in the future.

With the implementation of this service, the number of countries where remittance is possible through KB Kookmin Card's 'overseas remittance service' increases to 11, including China via the UnionPay card network and the 10 additional countries such as Singapore. This service is available daily from 1 a.m. to 10 p.m. through KB Kookmin Card's mobile application.

The average time to complete remittance is about 30 minutes when sending to the recipient's debit or prepaid card number, and 1 to 3 days on average for credit cards.

The remittance fee is up to 90% cheaper compared to traditional bank remittance; if the remittance amount converted to Korean won is 1 million won or less, the fee is 3,000 won, and if it exceeds 1 million won, the fee is 5,000 won. Remittance is possible up to a maximum of 2,500 USD per transaction and 50,000 USD annually.

Meanwhile, to commemorate the launch of this service, KB Kookmin Card is offering a 50% preferential exchange rate benefit on remittances until the end of June.

This content was produced with the assistance of AI translation services.