I am purchasing an item from a South Korean supplier and need to make payment of around $2000 into their bank account. I used XE trade website to send money to their Korean bank called Busan Bank located in Daegu. The account number that the supplier has given me is 13 digit, however XE have got back to me saying the account number is not correct it should be 20 digit. The supplier has given me a snapshot of their bank statement passbook that shows the 13 digit account number (and rest everything is in Korean).
Are there any Ozbargainers here who have experience sending money to Korea who can confirm that Korean Account numbers are definitely 20 digit. Any information in this regard will be appreciated.
Hi. We have never had money transferring from our credit union to Korean accounts. We just printed out a form and sent it to the credit union. Viola, money sent. No problems. Done this on several occasions.
Why not just use your bank?
As for the amount of numbers - Busan bank is a localish bank, not national - kinda like St George here. Used to be local but now all over the place. So, the account numbers given should be correct.
As a final thought - ask them for their SWIFT code. It is a combination of letters of numbers and letters (kinda like an Oz BSB). That might round out to 20…