Korea Development Bank, The SWIFT/BIC code

Korea Development Bank, The SWIFT code: KODBKRSE

KODBKRSE and KODBKRSEXXX are the short and the long form of the same bank identifier, and both lead to Korea Development Bank, The in Seoul. The code does one job: it makes sure that money from abroad reaches the right bank. In daily life you mostly come across it on invoices from abroad, in your banking app and in the bank details that Korea Development Bank, The provides.

On this page you will find what the code is put together, when you need it and what else a transfer to or from Korea Development Bank, The requires. The SWIFT code alone does not identify an individual account holder; for that you need the account number or IBAN .

Paying someone abroad from your Korea Development Bank, The account

The price of an international transfer is made up of more than one component, and the transfer fee is only the most visible one. There is the transfer fee, sometimes charges from correspondent banks along the way and, most importantly, the exchange rate markup if the currency changes.

That exchange rate margin is often the largest cost because it is hidden in the rate. An easy check: set the bank’s rate against the mid-market rate for the same moment and look at the difference.

Specialised transfer providers often offer a rate near the mid-market rate and lower fees. GoldexPay compares transfer providers next to each other so you can see the amount the recipient gets before you commit. Choosing a specialist does not mean leaving Korea Development Bank, The: you simply pay the service from your account.

Tracking a transfer to or from Korea Development Bank, The

How quickly a transfer arrives at Korea Development Bank, The is determined by several factors: which currency you send, how many intermediary banks are involved, daily processing deadlines and differences in time zone. Payments made late in the day or on a weekend or public holiday usually go out a business day later. Compliance checks by one of the banks may also add a delay, even when all details are correct.

Many banks use SWIFT gpi, which lets them follow a payment from bank to bank. Each payment carries a unique reference, the UETR, which your bank can use to see where the money is. Keep the payment confirmation until the recipient confirms; it contains the details a bank needs to start a trace.

A missing payment has to be investigated from the sending side on the basis of the transfer details. On the receiving end, it helps to look at your account to see a slightly lower amount, since fees may have been deducted.

Head office or branch code at Korea Development Bank, The?

Korea Development Bank, The has 2 different SWIFT/BIC codes. One of them is the head office code; the others belong to branches or departments, and sometimes internal departments.

Usually there is no need to pick a branch: transfers sent to KODBKRSEXXX reach Korea Development Bank, The correctly. When you receive a branch code, use it as it is rather than replacing it for the head office code.

Not sure which code to use? Ask the recipient, or look at a recent statement from Korea Development Bank, The. Branch codes are more likely to change than KODBKRSEXXX when a bank merges or closes offices.

Verifying the SWIFT code of Korea Development Bank, The

Have the recipient send you their account details directly from their banking app. When the code you were given does not match KODBKRSE or KODBKRSEXXX, do not guess – contact the recipient or Korea Development Bank, The.

A wrong SWIFT code can cause a delay, a payment being sent back or additional charges. Remember the account number: a mistake there can be harder to correct than a wrong code.

An automatic check by your bank only tells you that the code exists, not that it is the right account. More and more banks compare the name with the account before you confirm. A small test payment can be a sensible step for a large first payment.

Where our SWIFT data comes from

Our SWIFT/BIC directory is based on publicly available sources and is updated regularly. Banks reorganise, close branches and change codes – a directory can be a step behind. Counts and locations are from our own dataset and are not confirmed by Korea Development Bank, The.

Treat this page as a starting point, rather than as the final word. GoldexPay has no connection to Korea Development Bank, The; we are a comparison site for money transfers. If you notice a mistake, we appreciate a short note.

Getting paid from abroad into a Korea Development Bank, The account

A sender in another country will ask for a few details from you – incomplete details often cause delays. In practice that means: your name exactly as it appears on the account, your IBAN or account number, the BIC KODBKRSEXXX and usually your postal address.

Certain banks want the bank’s address; it does no harm to include it. Check every detail before you share them, because the sender’s bank usually copies them as is.

Do not be surprised if the incoming amount is smaller than what the sender paid. Correspondent banks can take a fee, Korea Development Bank, The may charge for incoming payments, and when currencies differ, a markup on the rate applies. For business payments, you can state who bears the costs, so that nobody is left short.

8 or 11 characters: KODBKRSE versus KODBKRSEXXX

Every SWIFT/BIC code has an 8-character core: four letters for the bank, a two-letter country code and two characters for the location. In this case, the 8-character core is KODBKRSE.

Many banks and apps accept either length. If yours requires eleven characters, use KODBKRSEXXX; if it wants eight, use KODBKRSE.

Do not add spaces when you type KODBKRSE or KODBKRSEXXX. Watch for O versus 0 and the letter I and the digit 1, a common source of typos.

Changed bank details? Be careful

Scammers often send payment requests with new bank details, sometimes in an email that looks completely genuine. That KODBKRSE is a real code does not mean that a request mentioning it is genuine.

Never trust a phone number from the same email that contains the new account. Watch out for urgent requests, unusual wording or an email address that differs by one letter. Acted too fast? Call the bank you paid from straight away and have them start a recall and report the fraud.

Fraud can also target the receiver. Someone claims to have sent too much and wants you to refund the difference via a different route. Do not act before the money has really arrived – ask Korea Development Bank, The if something looks wrong.