Provides three customized automatic overseas remittance services based on a designated exchange rate, date, or amount.
Offers a 50% preferential rate on the foreign exchange spread and a 50% discount on overseas remittance fees when using the account for overseas remittances.
Provides an accident insurance service with coverage of up to KRW 10 million and waives after-hours withdrawal fees at Shinhan Bank ATMs.
For foreign residents in Korea, opening a bank account and efficiently remitting funds to their home country are among the first financial challenges they face. Shinhan Bank’s SOL Global Account is a deposit product designed to address the key financial needs of foreign customers. This guide explains the structure and benefits of the SOL Global Account, including automated remittance services and various fee benefits, to help foreign customers manage their finances more conveniently and efficiently in Korea.
Three Automated Solutions for Convenient Overseas Remittances
One of the key features of the SOL Global Account is that overseas remittances can be automatically processed according to information specified in advance by the customer. Instead of checking exchange rates each time or visiting a branch, foreign customers can select one of the following three methods according to their financial needs.
Exchange Rate-Based Remittance: A specified amount is remitted only when the telegraphic transfer selling rate quoted at 9:30 a.m. and 4:30 p.m. falls to or below the exchange rate designated by the customer.
Scheduled Remittance: A specified amount is automatically remitted on a designated date on a monthly, every-two-months, or every-three-months basis.
Balance-Based Remittance: When the account balance reaches or exceeds the amount designated by the customer, the entire balance is automatically remitted.
Benefit | Details |
|---|---|
Foreign Exchange Benefit | A 50% preferential rate is provided on the foreign exchange spread when making overseas remittances using the SOL Global Account. |
Remittance Fee Benefit | A 50% discount is provided on overseas remittance fees when making overseas remittances using the SOL Global Account. |
Withdrawal Fee Waiver | After-hours withdrawal fees are waived when using Shinhan Bank CD/ATMs. |
Accident Insurance Service | For 12 months after initial enrollment (or conversion), coverage of up to KRW 10 million is provided in the event of accidental death or accidental disability, 24 hours a day. |
When opening a bank account in Korea, foreign customers should consider the convenience of overseas remittances and the ability to reduce related costs. The SOL Global Account provides a 50% preferential rate on the foreign exchange spread and a 50% discount on overseas remittance fees, while its three automatic remittance options allow customers to conveniently transfer funds to their home country according to their individual needs.
The accident insurance service, with coverage of up to KRW 10 million, and the after-hours ATM withdrawal fee waiver are additional benefits designed to support the everyday financial convenience and security of foreign residents in Korea. Foreign residents and international students are highly recommended to use this account as their primary bank account in Korea to control exchange rate fluctuation risks and establish the most efficient asset management structure.
⚠ Depositor Protection Notice
The deposit in this account is protected by the Korea Deposit Insurance Corporation (KDIC) under the Depositor Protection Act. The KDIC provides coverage up to KRW 100 million per depositor (for the aggregate of all insured financial products with this bank), including principal and designated interest.
⚠ Important Information
※ If an attachment, provisional attachment, or other seizure is registered on the account, payment of principal and interest may be restricted.
※ Even if you have opened this product, overseas remittances may be restricted depending on circumstances in the recipient country, foreign exchange regulations, Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulations, and other applicable requirements.
※ Transactions automatically remitted through the automatic remittance service cannot be canceled or changed. However, if the overseas bank rejects the payment or another applicable reason occurs, the amount remaining after deduction of applicable fees will be converted into Korean won using the telegraphic transfer buying rate applicable on the payment date and paid into the linked account registered when applying for the service.
※ The automatic remittance service may be suspended if legal or regulatory restrictions apply, such as a change in the designated foreign exchange bank, expiration of the passport validity period, or exceeding the annual remittance limit.
※ Matters not specified in the Shinhan SOL Global Account Terms and Conditions shall be governed by the Foreign Exchange Transactions Act and other applicable laws and regulations. Matters not specified by applicable laws and regulations shall be governed by the Basic Terms and Conditions for Foreign Exchange Transactions and the Bank's relevant regulations.
※ Please be sure to read the Terms and Conditions and Product Information Statement before opening this product.
※ When opening this product, you may receive an explanation of important matters concerning the product in accordance with the Financial Consumer Protection Act.
※ This advertisement has been provided in accordance with the relevant procedures under applicable laws and the Bank's internal control standards.
※ For further details, please refer to the Product Information Statement or contact a Shinhan Bank branch or the Shinhan Bank Foreign Customer Contact Center at 1577-8380 (Monday–Friday, 9:00 a.m.–6:00 p.m.; closed on weekends and public holidays).
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