Choosing a bank that works for foreign residents
Banks differ in how they serve foreign customers and in remittance terms. Compare two or three before choosing.
What to compare
- Foreign language service — English, Chinese or Vietnamese counters, or interpretation
- Remittance fees and exchange rates — the same amount costs differently at each bank
- Branch and ATM locations — near your home or work
- Foreign language support in the mobile app
- Products for foreign residents — salary transfer benefits, remittance fee discounts
- Opening hours — some branches for foreign residents open on Sundays
Steps
- Look at two or three nearby banks.
- Call or visit and ask about opening an account as a foreign resident. Check the documents needed in advance.
- Ask about remittance fees. Be specific: "how much to send to ○○?"
- Open the account.
- Set up mobile banking.
What you need
- Passport
- Alien Registration Card
- A Korean address and phone number
- Employment certificate or labour contract (if requested)
- A seal or signature
Where to go
- Financial Supervisory Service fine.fss.or.kr
- 1332 FSS counselling
- Each bank's customer centre
- 1345 · 1577-1366 interpreted advice
Questions people ask
My application was refused. Some banks restrict accounts by status or remaining period of stay. Try another bank or a branch specialising in foreign customers, with documents such as an employment certificate.
They gave me a "limited" account. Accounts often start with low transfer and withdrawal limits. Limits can be raised with transaction history and documents.
Which bank is best? It depends. If you remit often, fees matter most; if not, branch access does.
Take care
Never give your bankbook, card or PIN to anyone. Offers to "pay you for lending your account" are a criminal scheme. You would be punished, blocked from financial services, and it affects your stay.
Related
bank-account · debit-card · mobile-banking · remittance-app
Source
Financial Supervisory Service fine.fss.or.kr / As of 2026-08