KB Kookmin Card has decided to expand the number of countries that it can send money through the “overseas remittance service” to 10 major countries in Southeast Asia and Europe.
Kookmin Card will join hands with Visa to implement overseas remittance service through “Visa Direct,” a company official said on April 7.
This service is characterized by simple and affordable overseas remittances using the visa's global payment network if the recipient's name and visa card number are known.
Currently, 10 major countries -- Singapore, Vietnam, Thailand, the Philippines, Malaysia, Indonesia, Cambodia, Germany, Spain and Russia -- are available for customers to send money through Visa Direct. It plans to expand the service to major countries in the world.
The overseas remittance service is available daily from 1 a.m. to 10 p.m. through KB Kookmin Card's mobile application.
It takes an average of 30 minutes to transfer money to the recipient's check card and prepaid card number and an average of 1 to 3 days to complete the transfer for credit card. The remittance can be up to $2,500 a time and up to $50,000 a year.
Meanwhile, KB Kookmin Card will offer a 50 percent exchange rate advantage for remittance by the end of June to commemorate the service's laun
