The Korea Herald


Jeonbuk Bank expands money transfer services in Cambodia

By Yu Ji-soo

Published : May 8, 2023 - 14:51

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Jeonbuk Bank's logo (Jeonbuk Bank) Jeonbuk Bank's logo (Jeonbuk Bank)

JB Financial Group’s Jeonbuk Bank said Monday it will add 17 more banks to the list of financial institutions in Cambodia that accept real-time money transfers made through the Korean bank.

This newest addition brings the total number of such institutions to 49, providing expanded opportunities for customers to make transfers to various banks.

“We hope that our unique overseas real-time transfer service will be helpful to our customers who want to make transfers to Cambodia,” Jeonbuk Bank said.

The bank highlighted the advantages of its overseas transfer services, which include low fees and safety measures that are put in place to ensure secure transfers, such as reviewing receiving accounts.

Transfers to most banks require a fee of $3 -- which is lower than most standard fees -- and transfers made to Phnom Penh Commercial Bank are free.

When making transfers, senders can enter the recipient’s bank account number and view their name, which can prevent issues such as entering the wrong account number or sending money to the wrong person, the bank added.

This transfer service is available for both individual and corporate customers and does not require an in-person visit to the bank.

“We will strive to introduce more convenient financial services in the future as well,” Jeonbuk said.