KB Kookmin Bank announced on April 30 that it has launched 'KB Quick Send,' a remittance service exclusively for foreign customers.
This service is available through KB Star Banking and utilizes Visa's global network to simplify the remittance process by reducing complex intermediary steps. There are no intermediary or telegraphic fees, and only a remittance fee of 5,000 KRW is charged, minimizing the cost burden. The processing time, which previously took a long period, has also been shortened to within one business day at most.
Foreign customers can use this service to remit up to the equivalent of 10,000 USD per transaction. The service initially supports five countries?Nepal, Vietnam, Indonesia, Thailand, and the Philippines?where many foreign residents in Korea are from, and it is planned to expand to up to 48 countries within the first half of the year.
To commemorate the launch, a promotional event offering various prizes, including the latest electronic devices such as iPhones, iPads, and Galaxy devices, will be held until May 31.
A KB Kookmin Bank representative stated, "We plan to continue expanding services that can substantially enhance financial convenience for foreign customers in the future."
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