Bank of Communications Co. LTD Seoul Branch SWIFT/BIC code

Bank of Communications Co. LTD Seoul Branch SWIFT code: COMMKRSE

The short code COMMKRSE and the full code COMMKRSEXXX identify one and the same institution: Bank of Communications Co. LTD Seoul Branch in Seoul, South Korea. A BIC has a single purpose: it ensures that an international payment ends up at the right bank. In daily life you mostly come across the code on invoices from abroad, in your banking app and on the account details of Bank of Communications Co. LTD Seoul Branch customers.

On this page we explain how the code means, when it matters and which other details a transfer to or from Bank of Communications Co. LTD Seoul Branch requires. Remember that the BIC just identifies the bank, not the person: the account number or IBAN does that part.

Getting paid from abroad into a Bank of Communications Co. LTD Seoul Branch account

To receive an international payment at Bank of Communications Co. LTD Seoul Branch, the person paying you needs not just the SWIFT code. Give them your name as the bank knows it, the IBAN or account number, the BIC COMMKRSEXXX and your address, which some banks require.

Some banks also ask for the address of Bank of Communications Co. LTD Seoul Branch, so keep it at hand. A typo in the IBAN is harder to fix than it looks; copy them from your banking app rather than typing.

What lands in your account is often less than the amount sent. Intermediary banks may deduct a fee and your own bank may charge for processing, and if the money is converted, an exchange rate margin applies. Agree with the sender who pays which costs, especially for larger amounts.

Head office or branch code at Bank of Communications Co. LTD Seoul Branch?

Bank of Communications Co. LTD Seoul Branch has 2 different SWIFT/BIC codes across 1 locations. One of them is the head office code, COMMKRSEXXX; the others belong to branches or departments.

In most cases there is no need to pick a branch: payments sent to COMMKRSEXXX are routed within Bank of Communications Co. LTD Seoul Branch correctly. Just use a branch code when the account holder gives you that exact code.

Unsure which code applies? Ask the recipient. Branch codes can change over time, so a code from an old document is not always valid.

Is COMMKRSE still correct? How to check

The most reliable place for the correct BIC remains a document from the bank itself. When the code you were given does not match COMMKRSE or COMMKRSEXXX, stop and ask – contact the recipient or Bank of Communications Co. LTD Seoul Branch.

Mistakes in the BIC are annoying rather than disastrous: often the payment comes back, minus fees. A mistake in the account number is a bigger problem because it can reach the wrong person.

A format check in your banking app merely tells you that the IBAN is valid, not that it is the right account. If your bank offers it, a payee name check before sending gives extra certainty. A small test payment can be worth it for large sums despite the extra fee.

Changed bank details? Be careful

Fraudsters often use fake invoices with changed bank details. A real SWIFT code tells you nothing about who owns the account – scammers simply use real codes.

Verify changed bank details via a different channel, never via the email that asked for the change. Pressure and requests to keep it quiet tend to be red flags; a genuine business can wait for you to check. When money has already gone to the wrong account, contact your bank immediately: the sooner they act, the better the chance of a recall.

Scams can also work the other way. Someone claims to have sent more than agreed and asks you to return the difference. Wait until the money has really arrived.

What the XXX in COMMKRSEXXX means

A BIC is made up of a few fixed parts: characters one to four stand for the bank, characters five and six give the country and characters seven and eight mark the location. The result is COMMKRSE, the short form of the code.

Many banks and apps work with either length. If a form requires eleven characters, use COMMKRSEXXX.

Type the code in one piece, in capitals and without separators, exactly as shown here. Look out for the letter O and the digit 0 and the letter I and the digit 1.

Sending money abroad from Bank of Communications Co. LTD Seoul Branch

An international bank payment can cost rather more than the listed fee. You pay the transfer fee, possibly fees charged by intermediary banks in between and, most importantly, the margin on the exchange rate when the money is converted.

Banks do not show their exchange rate markup separately – you only notice it if you compare. A simple test: put the bank’s rate next to the mid-market rate for the same moment and work out the difference on your amount.

For many currency pairs, a specialist provider turns out to be cheaper than a traditional bank transfer – mostly thanks to the rate. GoldexPay compares what recipients receive with different providers, so you can pick the cheapest route. Using a transfer service does not require leaving Bank of Communications Co. LTD Seoul Branch.

About this information

The details here come from public sources that we update regularly. Institutions merge, close branches and change codes, and a directory never catches every change immediately. Figures such as the number of codes are from our own dataset and may differ from what Bank of Communications Co. LTD Seoul Branch publishes.

Before any payment of any size, always check the code with the recipient’s bank or with the recipient. GoldexPay is a comparison service for money transfers and not affiliated with Bank of Communications Co. LTD Seoul Branch. If you notice a mistake, we appreciate a short note.

How long does an international transfer to Bank of Communications Co. LTD Seoul Branch take?

How quickly a payment reaches Bank of Communications Co. LTD Seoul Branch depends on a few things: the currency, how many intermediary banks are involved, daily processing deadlines and differences in time zone. Bank holidays in either country can add extra days to the journey. Extra checks by one of the banks may also cause some delay, regardless of the details.

Many banks are connected to SWIFT gpi for faster and traceable payments. Each gpi transfer carries a unique reference, the UETR, which your bank can use to see where the money is. Save your transfer receipt.

A delayed transfer has to be investigated by the sending bank on the basis of the transfer details. On the receiving end, it helps to look at your statements to see a partial amount.