Last updated 2024.03.22
Fulbright Payments
Be Prepared
All grantees are strongly advised to arrive in Korea with sufficient financial means to support themselves, and any dependents, for 8-10 weeks after arrival. This is to account for the potential length of time it may take to set up a Korean bank account, which is affected by the processing time for a Korean Residence Card (See Passport & IDs).
Stipend Payment Schedule
If a grantee does not have an already established Korean bank account when they arrive in Korea, the grantee's first stipend will be wire transferred to their U.S. bank account AFTER their arrival in Korea. No grant benefits are disbursed prior to arrival.
All Fulbright grantees in Korea are required to establish a Korean bank account as soon as possible after entering the country. Only the first month's stipend will be in USD. All other stipends will be in KRW.
Similarly, all other monetary benefits (e.g., book allowance, dependent allowance) and any reimbursements (e.g., dependent tuition allowance) will be distributed in KRW as a wire transfer to the grantee's Korean bank account.
Once you have established your bank account, please send your program officer a scan/photo of the first page (the information/signature page) of your bankbook. Thereinafter, all stipend disbursements will be sent to this bank account. After submitting your Korean bank account information to your program officer, the next payment of award benefits is expected to be distributed in 7-10 business days.
If you wish to switch to using a different Korean bank account later, please inform your program officer of your desire to switch accounts and send a scan/photo of the bankbook for your new Korean account.
Regular allowances are distributed bimonthly around the last day of the month, with the exception of allowances for the last month of a grantee's award. These allowances may be postponed until the grantee completes any required reports.
All Fulbright grantees in Korea are required to establish a Korean bank account as soon as possible after entering the country. Only the first month's stipend will be in USD. All other stipends will be in KRW.
Similarly, all other monetary benefits (e.g., book allowance, dependent allowance) and any reimbursements (e.g., dependent tuition allowance) will be distributed in KRW as a wire transfer to the grantee's Korean bank account.
Once you have established your bank account, please send your program officer a scan/photo of the first page (the information/signature page) of your bankbook. Thereinafter, all stipend disbursements will be sent to this bank account. After submitting your Korean bank account information to your program officer, the next payment of award benefits is expected to be distributed in 7-10 business days.
If you wish to switch to using a different Korean bank account later, please inform your program officer of your desire to switch accounts and send a scan/photo of the bankbook for your new Korean account.
Regular allowances are distributed bimonthly around the last day of the month, with the exception of allowances for the last month of a grantee's award. These allowances may be postponed until the grantee completes any required reports.
Reimbursements
Reimbursements through allowances such as the Dependent Tuition Allowance will be processed only with the submission of valid receipts. Receipts may be submitted to your program officer via email as a scan/photo of each receipt. Please provide a brief description of what the receipt was for when sending it to your program officer.