How to Open a Bank Account in Korea (2026 Guide for Foreigners)
Whether you're moving to Korea for study, work, or long-term travel, opening a bank account is one of the first practical steps you'll need to take.
But as a foreigner in 2026, the process can feel confusing — especially if you don’t speak Korean or don’t yet have an Alien Registration Card (ARC).
This updated guide explains:
- 🏦 Which banks are foreigner-friendly
- 📄 What documents you need (with or without ARC)
- 📲 How to set up internet banking and mobile apps
- 💳 Daily limits, transfers, and account types
- ✅ Step-by-step: how to open an account in person
Let’s make Korean banking simple.
1. Can Foreigners Open a Bank Account in Korea? ✅
Yes, but the process varies depending on your visa type and how long you plan to stay.
- ✔️ Most major banks now allow foreigners to open accounts
- ❗ ARC (Alien Registration Card) is often required — but not always
- 📌 Tourist visa holders may face restrictions or be limited to currency exchange cards
💡 Good news: Some banks now allow temporary accounts with just your passport and entry stamp — especially for students or Working Holiday visa holders.
2. Best Banks in Korea for Foreigners (2026) 🏦
These banks are known for better service to foreigners, English-speaking staff, and simpler processes:
| Bank | Pros | Foreign Language Support |
|---|---|---|
| KEB Hana Bank | Best for expats, good apps, international transfers | English, Chinese, Japanese |
| Shinhan Bank | Wide branch network, ARC-less account in some cases | English, Chinese |
| Woori Bank | Student-friendly, easy setup | Basic English |
| KB Kookmin Bank | Reliable, strong online banking | Limited support in English |
💡 Hana Bank tends to be the top choice among long-term expats for ease of international use.
3. Required Documents to Open a Bank Account in Korea (2026) 📄
Here’s what you’ll typically need:
- 🛂 Valid passport
- 📃 Alien Registration Card (ARC) – if available
- 🏠 Proof of address (rental contract, utility bill, or school document)
- 📱 Korean phone number (for SMS verification)
🔐 Some banks may also ask for:
- 📝 Employment contract (if you're working)
- 📚 Enrollment letter (if you're studying)
- 📬 Immigration entry stamp (if ARC not yet issued)
💡 Visiting your local branch in person is usually required for first-time setup.
4. ARC 없이 계좌 만들 수 있을까? (Without ARC) ❓
Yes — but with limitations.
- ✅ Some banks offer “temporary” or “limited” accounts without ARC
- 💸 These accounts may not support international wire transfers or large transactions
- 📆 You may be asked to bring your ARC within 90 days to avoid account closure
💡 Shinhan Bank and Woori Bank are known to be more flexible for students and Working Holiday visa holders.
5. What Type of Bank Account Can You Get? 💳
Foreigners typically open a savings/checking account (“입출금통장”), which allows:
- 💸 Cash deposits and withdrawals
- 📥 Receiving salaries or part-time wages
- 💡 Setting up rent payments, mobile bills, or tuition transfers
- 🌐 Online banking and mobile banking
💳 Most accounts include a debit card (linked to Visa or Mastercard), which works in shops and ATMs.
6. Online Banking & Mobile Apps in Korea (2026) 📲
Once your account is set up, you can register for online and mobile banking — but it’s not automatic.
- 🔐 You’ll need to set up a digital certificate (공인인증서 or 공동인증서)
- 🧾 Some banks require an OTP device (₩3,000–₩5,000 one-time cost)
- 📱 Apps usually offer English interfaces for major banks
💡 Mobile banking is essential for paying bills, transferring funds, and managing accounts — set it up early.
7. Tips for Opening a Bank Account as a Foreigner ✍️
- ✅ Visit major branches in downtown or expat areas (e.g., Itaewon, Gangnam)
- ✅ Bring all documents — and a Korean speaker if possible
- ✅ Arrive early — banking hours are usually 9am to 4pm
- ✅ Ask clearly for international transfer option if needed
- ❗ Avoid opening accounts in small or rural branches — rules may be stricter
💡 Many bank tellers are friendly and patient, even with limited English. Be polite and they’ll guide you.
Conclusion: Bank Account in Korea = Possible & Practical ✅
Opening a bank account in Korea as a foreigner in 2026 is more accessible than ever — but preparation is key.
Follow this process:
- 🛂 Bring the right documents (passport, ARC, etc.)
- 🏦 Choose a foreigner-friendly bank like Hana or Shinhan
- 📱 Set up mobile banking and secure login tools early
