Foreign Exchange Guide to North Korea
In this guide we review :
- North Korean won info - general info about the North Korean won
- Buying North Korean won cash online - travel money for North Korea
- Sending money to North Korea - save on North Korean won bank transfers to North Korea
- North Korean won exchange rates - latest info & charts.
North Korean won (KPW) general currency information
North Korea Trip Checklist
Travel money for North Korea
Save money and time by Ordering your North Korean won online from Travelex, you get better rates and can pick up the KPW cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in North Korean won otherwise you may get much worst exchange rates.
Sending money to North Korea
When sending money to North Korea it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or North Korean won amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted KPW amount will be transfered to the recipient account you specify in North Korea.
By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more North Korean won deposited into the recipient bank account in North Korea and less margins and fees kept by the banks!