Remittance through Metrobank Seoul

I never experienced sending money to the Philippines until last year. Luckily, one of my friends is working for Metrobank in Seoul.

It is so easy to find Metrobank. It is located on the second floor of DanAm Tower Building in Namdaemun. Get out from exit 4 of Seoul Station and it’s only a five-minute walk. From the bus stop outside DanAm, you could take the 402 or 405 blue bus to the Philippine Embassy, just in case you need to do something there.

Map of Metrobank Seoul from Seoul Station
Map of Metrobank Seoul from Seoul Station

I don’t remember seeing a signage of Metrobank outside the building. I had to ask the guard where Metrobank is located. He said to take the stairs on the left to the second floor. It is located beside Hana Bank.

Danam Tower Screenshot from Daum Maps
Danam Tower
Screenshot from Daum Maps

Metrobank is located just beside Hana Bank when you take the stairs. Their office is pretty big, and it looks like an office in the Philippines. You’ll be greeted by a Korean guard, but most of the staff are Filipinos.

Since it was my first time to send money to the Philippines, my friend guided me on what to do. I signed two documents ~ one is designating Metrobank as my FX or foreign exchange bank and the other is a waiver of secrecy.

Here are some things to remember when sending money back to the Philippines through Metrobank:

~ To send money abroad, you have to designate a bank first AND you cannot use another bank to send money abroad unless you cancel your current FX bank.

~ The limit of money that you can send in one year is US$50,000 only. If you need to send more, you will need to supply additional documents to support your remittance.

~ There is no other fee (aside from the remittance fee) for Metrobank to Metrobank transactions.

~ The exchange rate posted at the bank is the basic rate BUT you can get a better rate if sending more money πŸ˜€

~ The remittance charge is as follows: less than 1,000 USD – 13,000 won; 1,001 to 2,000 USD – 18,000 won; 2,001 – 5,000 USD – 23,000 won; more than 5,000 USD – 28,000 won.

~ The recipient in the Philippines immediately receives the remittance sent to them.

Here is a copy of the remittance receipt when I sent money last year:

Sending money to the Philippines through Metrobank
Sending money to the Philippines through Metrobank

In the future, I will try to post about my experience sending money to the Philippines through Hana Bank πŸ˜€

4 thoughts on “Remittance through Metrobank Seoul

  • September 16, 2014 at 4:28 pm
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    Hi is sending thru Metrobank the cheapest way to send money to Philippines? Thank you!

    Reply
  • October 26, 2014 at 1:02 pm
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    It’s good to know that Metrobank offers easy remittance because we know how important to OFWs to be able to send money to their families in the Philippines. To me, their remittance charge is still reasonable, knowing that your money is safe and will be delivered immediately in the Philippines.

    Reply
  • August 5, 2015 at 4:22 pm
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    mejo mahal pla ng remittance charge… im running an online teaching business now kc tpos for the meantime, nakikigamit muna ko ng citibank ng korean friend ko. Im thinking n metrobank nlng gamitin ko kaso mapapamahal ata mga clients ko kung 13,000won ang charge sa knila,,… eh 50,000 lang ang every client eh… any suggestion? thank you sa post mo. i helps a lot! πŸ™‚

    Reply

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