Did you know... Shinhan’s “My World Remittance Account” is a savings account designed for those who wish to remit money overseas on a regular basis and want the convenience of not having to worry when and how they should be remitting. There are three criteria that can initiate an automatic overseas remittance from your account to an overseas beneficiary. Whilst it is only possible to have one beneficiary per account, you may open as many “My World Remittance Accounts” as you like. The automatic remittance may be triggered by the following methods: 1) By amount – The account balance in its entirety will be remitted automatically when the balance reaches, or surpasses, the amount that you (previously) specify in Korean won. The only restrictions on this option are that the minimum amount which can be remitted is 100,000 KRW and any amount above this must be in units of 10,000 KRW. 2) By rate – A specified amount (in Korean won or a foreign currency) will be remitted when the exchange rate reaches your previously selected preferred level. 3) By date – A specified amount (in Korean won or a foreign currency) will be remitted on a previously selected date or interval (daily, monthly, bimonthly or quarterly). In order to be eligible for this product, you must have lived in Korea for more than six months or be legally working in Korea (i.e. have an employment contract); you must also have designated Shinhan Bank as your “Primary Foreign Exchange Transaction Bank” and have a valid passport and Alien Registration Card. The benefits of adopting such an account are as follows: 30% discount on the exchange rate spread (any currency) 30% discount on automatic overseas foreign currency remittance fees (any currency) 100% discount on domestic transfer fees from your Shinhan account to your “My World Remittance Account” when the transfer is made in person at a branch. Free SMS reporting to both remitter and overseas beneficiary For more information on additional benefits as well as fees and taxes, please visit one of our branches and/or call our English call center on 1577-8380 (Monday – Friday, 9am – 5pm)
Posted on: Mon, 12 Aug 2013 06:59:48 +0000
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