Open your first Korean bank account
It takes one branch visit. Here's how.
Need the full details? Read our comprehensive Banking & Finance Guide.
Go to Hana Bank or Woori Bank
These two are the most foreigner-friendly. Hana Bank is the top recommendation because their Global app works in English. Visit a branch in an expat-heavy area (Itaewon, Gangnam, near universities) where staff are used to helping foreigners.
Tip: Call ahead to confirm the branch has English-speaking staff. Not all branches do.
Bring these documents
Passport (original), ARC (Alien Registration Card), Korean phone number, and proof of address (lease contract or utility bill). Without an ARC, you can still open a limited account at Hana or Woori, but you will not get internet banking until your ARC arrives.
Tip: If you do not have an ARC yet, go anyway. A limited account lets you receive your first salary while your ARC is processing.
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Complete the paperwork (30-60 min)
The bank handles everything. You will fill out forms, verify your identity, and choose a debit card design. You leave with a bankbook. Your debit card arrives by mail in 1-2 weeks. Ask to set up the mobile banking app before you leave.
Set up mobile banking
Download Hana Bank Global (or your bank's app) and register with your ARC number and Korean phone. You may need to go back to the branch once to activate online transfer features. Once set up, you can transfer money, pay bills, and check your balance from your phone.
Tip: For sending money internationally, set up Wise separately. It is much cheaper than bank wire transfers (0.5-1% vs $20-50 per transfer).
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