Open a Bank Account in South Korea
Secure a local bank account with or without an Alien Registration Card (ARC).
This guide is for planning and preparation. Details may change, so verify current requirements with the official sources before applying, paying fees, or submitting documents.
Review and freshness
This guide has a recorded editorial review date. Always verify final requirements, fees, forms, and appointment rules with official sources before applying.
Estimated timeline
1 to 2 hours
Estimated fees
Usually free
Who this is for
Expats, students, and workers in South Korea.
Location
South Korea
Eligibility
Residency
Usually requires a valid visa and proof of residence.
Required documents checklist
Tap each item as you gather it. This progress stays in your browser for the current page session.
Visual step flow
Scan the process before you start
Use this overview to understand the order, then track each item in the checklist below.
Choose a bank
KB, Shinhan, and Hana are popular and expat-friendly.
Visit a branch
Go in person (mornings are usually less busy).
Select services
Ask for a 'Check Card' (debit) and 'Internet Banking' setup.
Step-by-step instructions
Use this as a working checklist from preparation through submission.
Estimated fees
Minimum deposit
Often not required, but good to have.
Before submitting
Avoid rejected applications and wasted trips
Check these practical points before you pay fees, attend appointments, or hand over original documents.
Common mistakes
- Opening an account before getting an ARC (you will have strict daily withdrawal limits).
- Not bringing your physical passport.
- Forgetting to ask for a 'Certificate of Deposit' if you need it for visa renewals.
FAQ
Can I open an account with just a passport?
Yes, at some banks, but it will be a 'limited' account until you provide an ARC.
Are there monthly fees?
Generally, Korean banks do not charge monthly maintenance fees for basic accounts.
Can I use my card abroad?
Yes, if you ask for a 'Global Check Card' during the setup.
Source and review
This guide has a recorded editorial review date. Requirements, fees, forms, and timelines can change. Use this guide as preparation support, then verify final details with the official source before submitting anything.