Monday, May 6, 2013
How to Wire Money to Korea
1. Open a PayPal account on PayPal's website (see Resources). If you are conducting a business transaction, a 'Premier' or 'Business' account should be selected. If you are wiring funds for personal purposes, select 'Personal' account.
2. Link and confirm a bank account with your PayPal account. You need your bank account and routing number (these can both be found on your checks). PayPal issues two small deposits to your account that arrive in three to five business days. You must confirm these two amounts to verify account ownership.
3. Deposit funds into your PayPal account. Do this by clicking the 'deposit money' tab. Funds become available as soon as the withdrawal clears your bank account.
4. Send money to your recipient. Click the 'Send money' tab. You need to enter your recipient's PayPal email address, which is the address they provided during sign up. The money arrives in your recipient's account instantly. She is now able to withdraw the funds to her bank account. Alternatively, she may wish to spend the funds online at any merchant that accepts PayPal.
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