You Can Send South Korean Won (KRW) from Your KAST Account to a Supported Korean Bank Account Using KAST’s Local Currency Payouts. In This Article, You’ll Learn How to Withdraw KRW to a Bank Account, the Fees, Limits, Processing Times, and What to Do If Your Payout Hasn’t Arrived Yet.
How Do I Withdraw KRW from KAST?
If This Is Your First Time Sending a Transfer In KES, You May Be Asked to Complete KYC Verification Before Continuing. Follow the In-App Prompts to Provide the Required Information And Complete Verification.
With KAST Pay, sending LKR is quick and simple:
| 1. Open the KAST app. | |
| 2. Go to the Pay tab. | |
| 3. Under New Payment, select Fast Payout. | |
| 4. Choose KRW as your payout currency. | |
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5. Accept the Terms and Conditions, then tap Continue. 6. You may be asked to provide additional information or documents, such as your Tax Identification Number (TIN), Proof of Address (PoA), Source of Funds (SoF), or Social Security Number (SSN). |
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7. Enter the amount you wish to send, tap Confirm. |
| 8. Choose whether to transfer to your own account or to someone else, enter recipient’s details | |
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9. Review the details and confirm your transaction. |
Your Funds Are Converted at the Current FX Rate, and You’ll See All Fees, Limits, and Delivery Times Upfront Before Confirming Your Withdrawal.
What Are the Fees for KRW Withdrawals from KAST?
KAST Uses Transparent Pricing for Every KRW Payout:
| Detail | What It Means | Amount |
|---|---|---|
| FX Conversion Fee | Rate applied when converting stablecoins to KRW. | 1% |
| Transfer Fee (Fixed) | Flat Cost for Sending Your KRW Payout. | 2 USD |
Existing KAST Payout Benefits Still Apply:
- Your First 3 Payouts Are Free.
- Payouts Above $5,000 Are Free.
What Are the Limits for KRW Withdrawals?
KRW Payouts Use the KFTC / FirmBanking Rail.
| Minimum Amount | Maximum Amount | Processing Time |
|---|---|---|
| 5,000 KRW | 999,999,999 KRW | Real-Time |
Which Banks Can Receive KRW Payouts?
You Can Send KRW to Supported Korean Bank Accounts That Accept KRW Transfers. Before Sending, Confirm That the Recipient’s Bank Account Can Receive Payments in KRW.
How Long Does It Take for KRW Payouts to Arrive?
KRW Payouts Are Processed in Real-Time Through KFTC / FirmBanking. In Some Cases, Additional Bank Checks, Weekends, Holidays, or Provider Reviews May Still Cause Delays. You’ll Receive a Notification Once Your Payout Has Been Delivered.
Can I Withdraw KRW to Someone Else’s Bank Account?
Yes, You Can Send KRW to Another Person’s Supported Korean Bank Account That Accepts KRW Transfers.
Be Sure to Enter the Recipient’s Full Name, Account Number, and Bank Name Accurately - Incorrect Details May Delay or Return the Transaction.
What If My KRW Payout Hasn’t Arrived?
If Your Payout Hasn’t Arrived Within the Expected Time:
- Check Your Transaction History in the KAST App to Confirm Its Status.
- Verify That the Bank Details You Entered Are Correct.
- Contact the Recipient’s Bank to Check If the Funds Are Still Being Processed.
- If It Hasn’t Been Received, Reach Out to KAST Concierge for Help.
For more help, see our guide: What Should I Do If My KAST Payout Hasn’t Arrived Yet?
Frequently Asked Questions
Do I Need to Complete KYC Before Withdrawing KRW?
Yes. You must have a KAST KYC-approved account to use KAST Pay. For some payout corridors, you may also be asked to accept partner terms and/or complete additional verification before you can send.
Can I Cancel or Edit a KRW Payout After Confirming?
No. Once Confirmed, KRW Payouts Are Sent Immediately for Processing and Cannot Be Canceled or Changed. If You Entered Incorrect Details, Contact KAST Concierge Immediately for Assistance.
What Happens If My Payout Fails?
If Your Payout Fails Due to Incorrect or Unsupported Bank Details, the Funds Will Be Returned to Your KAST Balance Once the Transfer Is Reversed. You’ll Be Notified as Soon as the Refund Is Complete.
Will I Get Proof of Payment?
For successful payouts, you can check your transaction details in the KAST app. If you need proof of payment or additional confirmation, contact KAST Concierge for support.
Who Can Use KRW Payouts?
KAST users with approved KYC verification can use KRW payouts if their account, residency, user type, beneficiary country, and selected payout currency are supported.
Why Can’t I See or Continue With an KRW Payout?
You may not be able to see or continue with an KRW payout if your KYC status, residency, user type, beneficiary country, selected payout currency, or recipient bank is not supported.