Open a bank account in Korea
A Korean bank account is usually needed for salary, rent, remittance, cards, insurance payments, and many local subscriptions.
Most full bank accounts require a Residence Card, passport, Korean phone number, and sometimes employment or enrollment proof. Branch rules vary, so bring extra documents and ask about transfer limits.
TL;DR Answer
- Bring Residence Card, passport, Korean phone number, and extra proof.
- Choose a branch that regularly works with foreign residents.
- Set up mobile banking before leaving the branch and ask how to raise transfer limits.
Checklist CTA
Open the Korea setup checklist
Turn this page into tasks for before arrival, week one, and month one.
This page is for general settlement planning only. It is not legal, financial, tax, medical, or immigration advice. Confirm the latest requirements with the relevant authority before applying or signing anything.
Who This Is For
- You need salary or rent payments in Korea.
- You just received your Residence Card.
- You are trying to move from a limited account to a full account.
Requirements Table
- Identity
- Residence Card and passport are the safest combination.
- Contact
- Korean phone number for OTP and app verification.
- Compliance
- Proof of work, school, address, or purpose may be requested.
Step-by-Step Process
- 1
Pick a branch
Use employer, school, or foreign resident recommendations. Branch experience matters.
- 2
Bring originals and backup documents
Carry Residence Card, passport, phone number, address proof, and employment or enrollment proof.
- 3
Ask about limits before signing
Confirm transfer, ATM, overseas remittance, and mobile banking limits.
- 4
Activate mobile banking and OTP
Install the app, verify the number, set up transfer authentication, and test login.
- 5
Raise limits later
After stable usage or salary deposits, ask the branch what documents can support higher limits.
Common Mistakes
- Going without a Korean phone number.
- Leaving the branch before app login works.
- Assuming every branch applies the same foreigner policy.
FAQ
- Can I open a Korean bank account without a Residence Card?
- Some branches may offer limited accounts with a passport, but full services usually require a Residence Card and Korean phone number. Policy varies by bank and branch.
- Why do foreigners get transfer limits?
- New accounts can have compliance limits. Ask the branch what evidence is needed to raise limits after employment, enrollment, or normal account history.
- Do app-only banks work for foreigners?
- They can work after Korean identity verification is available, which usually requires a Residence Card and registered phone number.
Helpful links
Open the relevant page before applying, signing, or paying.
Change Log
- 2026-07-01: Created banking entity page and internal link rules.