How to calculate taxes on foreign payments?
If for some reason the bank's rate on that day was higher than the Central Bank's rate (the rarest
case), the "service" received is also taxed. It is easier to follow this point than to deal with
additional calculations.
Can I cancel a money transfer from France to Korea after it's sent?
Yes, in most cases, you can cancel a money transfer from France to Korea if the funds haven't yet been received in Korea. To do so, contact the provider's support team in France or use their app/website. Keep in mind that some services may charge a cancellation fee for transfers between France and Korea.
Do I need a bank account in France to send money to Korea?
Not necessarily. Many international services operating in France offer cash transfers to Korea, so you can send money without a bank account. However, if you’re using online banking or bank-to-bank transfer from France to Korea, an account will be required.
What are the advantages and disadvantages of using a SWIFT bank transfer?
Advantages: Large amounts can be transferred securely.
Disadvantages: Longer processing time (several days), high fees from both sending and receiving banks.
