What is the IBAN Code for Woori Bank?

The International Bank Account Number (IBAN) is a standardized system used to identify specific bank accounts across borders. The IBAN is primarily used in Europe, but it is accepted globally in many countries, including South Korea, where Woori Bank is located.

Woori Bank, one of South Korea’s largest and most prominent financial institutions, provides a wide range of banking services. If you are conducting international transactions involving Woori Bank, you might need to know the IBAN code associated with your account.

What is an IBAN Code?

An IBAN is a unique string of characters that helps identify a specific bank account and facilitates international payments. It usually includes:

• Country code (two letters)
• Check digits (two digits used for error detection)
• Bank code (which helps identify the bank and branch)
• Account number (the actual account held at the bank)

The structure of an IBAN depends on the country, and it ensures that international bank transfers are processed correctly.

Does Woori Bank Have an IBAN?

As of now, South Korea, the country where Woori Bank is based, does not use the IBAN system. South Korean banks, including Woori Bank, typically use SWIFT/BIC codes for international payments and transfers instead of IBANs. The SWIFT/BIC code is another standardized code used to identify specific banks and financial institutions during cross-border transactions.

Woori Bank SWIFT/BIC Code:

For international transfers to or from Woori Bank, you will typically need the SWIFT/BIC code. The SWIFT code for Woori Bank is:

• HVBKKRSE (for Woori Bank branches in South Korea)

This code can be used in place of an IBAN when transferring funds to a Woori Bank account. The SWIFT code identifies the bank and its branch in South Korea, ensuring that the money is sent to the correct location.

How to Make an International Transfer to Woori Bank:

If you’re planning to send an international payment to a Woori Bank account, you will need the following information:

1. Recipient’s Account Number
2. Woori Bank’s SWIFT/BIC Code: HVBKKRSE
3. Recipient’s Name and Address (as required by your sending bank)
4. Bank Name and Address (Woori Bank’s official address)

You do not need an IBAN for transfers to Woori Bank if you are sending money to South Korea. Instead, the SWIFT/BIC code serves the same purpose.

Conclusion:

While South Korea does not utilize the IBAN system, you can still send money internationally to Woori Bank using its SWIFT/BIC code. For international payments, make sure you have the recipient’s account number, SWIFT/BIC code, and any other required details to ensure that the funds are transferred smoothly. The SWIFT code for Woori Bank is HVBKKRSE.