Opening a bank account

You need a Korean bank account to receive wages. It is straightforward once you have the documents — but one missing paper means another trip.

Who needs this

• Anyone receiving pay or paying bills in Korea
• People who have completed alien registration (ask the bank first if you have not)

Steps

1. Check what the bank requires. It differs by bank and branch — a phone call settles it.
2. Visit a branch. Branches used to serving foreign customers are easier.
3. Fill in the forms. Ask for interpretation in advance if you need it.
4. Explain what the account is for. Because of phone-scam prevention, transfer limits are often restricted at first.
5. Ask about a debit card and online banking.

Documents

• Passport and Alien Registration Card
• Employment certificate or contract if the account is for wages
• Enrolment certificate for students
• Proof of address

Where to go

• Any bank branch (call to check they can serve foreign customers)
• Living information: 1345 or 1577-1366

Questions people ask

My transfer limit is very low. That is fraud prevention. Showing proof of your income or purpose can raise it.

Can I lend my account to someone? Never. Lending a bank account is used in crime and you are punished as the account holder.

I don't speak Korean. Some branches provide interpretation. Call before visiting.

Source and date

Based on living information from Danuri (www.liveinkorea.kr). Bank requirements differ and change.