Translation of Bank Statements and Credit Card Statements

One request that we often receive is to provide certified translations of Korean bank statements, credit card statements, credit reports, wire transfer remittance statements, and more. Generally, these translations are required by a Canadian or US bank, mortgage broker, or other organization. We have discovered a few of the unique challenges when it comes to handling these types of documents.

First of all, we have found that formatting is incredibly important to the end client being able to make much sense of the translation. As a result, we typically have such requests paired with our formatting team. This allows the translator to spend their time focusing on the translation component, and allows us to deliver a document that matches the source formatting exactly. The client ends up receiving an accurate translation with everything presented in an organized manner.

In addition, many banks and mortgage brokers prefer to have all the monetary amounts converted into Canadian dollars or United States dollars, rather than leaving them all in Korean won. Whenever a client requests it, we use the reference exchange rate to convert all currency amounts into their preferred target currency. This helps them to better analyze their client’s financial situation in the currency they are most familiar with.

Also, we have found that the names of Korean merchants on Korean bank statements and credit card statements are sometimes shortened. Even words like “debit,” “credit,” “deposit,” “transfer,” “payment,” and “wire transfer,” often end up being shortened on the Korean statements. If you choose a translator who hasn’t handled many financial translations in the past they will likely get confused with these shortened words. The problem is that the shortened words are obvious to Korean accountants, bankers, and brokers - so these won’t be found in any free online dictionaries. Further complicating matters, sometimes the abbreviations vary depending on the bank!

We have translated several types of financial and banking statements from nearly all of the major banks in South Korea. As a result, you can rest assured that our certified translations of Korean financial and banking documents will be thorough, accurate, and easy to read. We are certified across Canada and can send the certified Korean to English translations directly to your bank, credit union, or mortgage broker.