Non-face-to-face Overseas Remittance
NH Nonghyup Bank announced on March 28 that the number of “NH Western Union AUTO-SEND” usage exceeded 10,000 after the release. The NH Western Union AUTO-SEND is a non-face-to-face overseas remittance service for customers who are financially disadvantaged and frequently remit a small sum of money, such as foreign workers and multicultural families.
When customers visit the bank once to open an account for overseas remittance and register information about the remitter and the receiver, they can automatically exchange their deposits in Korean won to U. S. dollars and transfer money to the receiver four times a day through the service.
This service also allows customers to send money to the receiver without the receiver’s account number, and the receiver can get money in 10 minutes at all Western Union offices around the world. Since it charges customers only US$10 (11,660 won) when remitting US$500 (583,000 won), the service is popular among those who often send a small amount of money abroad, including foreign workers and multicultural families.
In particular, customers don’t need to visit the bank to transfer money after opening the service account. All they need to do is to deposit money in Korean won in the account. Then, they can easily remit the money from 100,000 won (US$86) to US$5,000 (5.83 million won) a day through the non-face-to-face channel.