Korea Securities Depository SWIFT/BIC code

KSDCKRSE – the SWIFT/BIC code of Korea Securities Depository

Whether a recipient gives you KSDCKRSE or KSDCKRSEXXX, it is the same identifier for Korea Securities Depository in South Korea. A BIC has a single purpose: it makes sure that money from abroad reaches the right bank. In daily life you usually see it on international invoices, in your banking app and in the bank details that Korea Securities Depository provides.

This page is meant to help people who receives money at an account at Korea Securities Depository and wants to get the details right. A SWIFT code names an institution, not a specific account; the IBAN or account number does that.

A note on our data

We gather SWIFT/BIC codes from publicly available data and check our list from time to time. It is possible that a code on this page is no longer current after a merger or reorganisation. The figures on this page are based on our own data.

Use this page as a starting point, rather than as the final word: the recipient’s bank details come first. GoldexPay has no connection to Korea Securities Depository. Spotted outdated information? Let us know through the contact page and we will look into it.

International transfers from Korea Securities Depository: the real cost

What you pay for an international transfer has several parts – not just the fee on your screen. You pay the transfer fee, sometimes charges from correspondent banks along the way and, above all, the exchange rate markup.

That exchange rate margin is often the biggest cost even though it is not listed as a fee. Compare their rate against the mid-market rate, the midpoint between buy and sell rates you see on financial sites. The difference is your real conversion cost.

For many routes, a specialist provider turns out to be less expensive than a bank, mainly because of the exchange rate. Next time you send money, take a minute to compare what arrives via GoldexPay instead of going straight to your bank. You can still use your account at Korea Securities Depository to fund the transfer; only the conversion and sending happen elsewhere.

Is KSDCKRSE still correct? How to check

The best place to find the right code remains a document from the bank itself like a bank statement or the account page in online banking. Compare that code against KSDCKRSE here; if they differ, ask before you pay.

Mistakes in the BIC are annoying more than disastrous: often the payment comes back, minus fees. A mistake in the IBAN or account number can be a bigger problem because it can reach the wrong person; check it just as carefully.

An automatic check in your banking app only confirms that the IBAN exists, not that it is the right account. More and more banks check the payee name with the account before you confirm. For a first payment, some people start with a small test amount before sending the rest.

Protect yourself against fake payment requests

Scammers often use fake invoices containing changed bank details. That KSDCKRSE is a real code is no guarantee that a request mentioning it is legitimate – fraudsters use real bank codes as well.

Never trust contact details from the same email that announces the change. Watch out for urgent requests, odd spelling or a sender address that is slightly off. When money was sent to a fraudster, contact your bank immediately: the sooner they act, the better the chance of a recall.

People receiving money can be targeted as well: a classic trick is a buyer who pays too much followed by a request to refund the difference to another account. A payment confirmation from the sender proves nothing; only your own account shows what has arrived.

Choosing between the 5 SWIFT codes of Korea Securities Depository

Our directory lists 5 SWIFT/BIC codes for Korea Securities Depository in 1 cities. Besides the head office code KSDCKRSEXXX, you will find codes for branches, departments or specific services.

For most incoming transfers, the head office code KSDCKRSEXXX is what you need. A branch code only makes sense when the account holder explicitly asks for it, which is more common for business accounts and trade services.

The safest route is to copy the code straight from the recipient’s invoice. Branch codes are more prone to be retired than the head office code when a bank merges or closes offices.

How long does an international transfer to Korea Securities Depository take?

How quickly a transfer arrives at Korea Securities Depository is determined by several factors: the currency, the number of banks in between, daily processing deadlines and time zones. Payments made late in the day or just before a weekend or public holiday usually go out a business day later. Occasionally a bank asks about the purpose of a payment.

When a payment takes longer than expected, contact your bank about the status and the transaction reference. Save your transfer receipt until the money has arrived – you will need it for any trace request.

If a payment has not arrived after a few business days, the person who paid needs to start with their own bank. Request from the sender a copy of the payment confirmation including the reference – it helps your own bank look for the money.

Why Korea Securities Depository has an 8- and an 11-character code

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

Many payment forms work with either length. If a form asks for eleven characters, enter KSDCKRSEXXX.

Do not add spaces or dashes when you enter KSDCKRSE or KSDCKRSEXXX. A single character can send a payment to another bank, so check it twice.

What to give a sender who pays you at Korea Securities Depository

If you are waiting for money from abroad, give the sender all details at once. In practice that means: your full name exactly as it appears on the account, your IBAN or account number, the BIC KSDCKRSEXXX (or KSDCKRSE) and, often, your postal address.

Certain banks want the bank’s address in Seoul, so keep it at hand. A mistake in your account number is more trouble than you might think, so copy the details from your online banking.

Expect that the incoming amount is smaller than the amount on the sender’s receipt. Fees for incoming transfers differ from bank to bank; check the price list of Korea Securities Depository. Make clear with the sender who pays which costs, especially for larger amounts.