Can I transfer money in another currency?
Yes, most services allow you to transfer money in various currencies.
The exchange rate will be set by the service at the time of the transfer.
Do I need a bank account in Korea to send money to The Maldives?
Not necessarily. Many international services operating in Korea offer cash transfers to The Maldives, so you can send money without a bank account. However, if you’re using online banking or bank-to-bank transfer from Korea to The Maldives, an account will be required.
When sending money from Korea to The Maldives, you can typically pay using a bank card issued in Korea, a bank account transfer, or cash at a local agent location. The available payment methods may vary depending on the service you choose to transfer money to The Maldives.
Yes, many international money transfer services allow you to send money from Korea directly to a bank account in The Maldives. You will usually need the recipient’s full name, bank name, IBAN, and sometimes the SWIFT/BIC code for The Maldives banks.
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.
