Why your bank gives you a different rate
Published exchange rates are mid-market reference rates. Korean banks add a spread of about 1.75% for cash and about 1% for transfers. A "90% preferential rate" (환율 우대 90%) means the bank waives 90% of that spread, so you pay only 0.175%.
Cheaper ways to send or exchange money in Korea
- Use your bank app's online exchange with the highest preferential rate, then pick up cash at a branch or airport.
- For remittances home, compare licensed small-amount remittance services with bank wire fees.
- Airport exchange booths usually offer the weakest rates.
Rates are fetched in your browser from public APIs (ExchangeRate-API / ECB) and cached for one hour. They are not live dealing rates.
Read in Korean: 실시간 환율·환전 계산기