How to open a bank account in Korea as a foreigner 🇰🇷💳

Opening a bank account in Korea might sound complicated, but it’s actually pretty simple once you know the steps. Whether you’re moving here for work, study, or just long-term travel, having a local account makes life so much easier !!! from paying rent to getting paid or just using apps like KakaoPay or Naver Pay 💸📲 First things first, you usually need your ARC (Alien Registration Card) to open a full-access bank account. Most major banks will ask for it. Some branches might let you open a temporary or limited account with just your passport, but that version won’t let you do much, you won’t be able to receive a salary or transfer large amounts for example. So best to wait until you get your ARC if you can 🪪✨ Next, choose your bank. Popular options include KB Kookmin, Woori, Hana, and Shinhan. These banks are foreigner-friendly, especially branches near places like Itaewon, Gangnam, or university areas. Some even offer English-speaking staff or apps partly in English, though don’t expect perfect translations 😅 Now, what to bring when you go 👜: ✅ Your passport ✅ Your ARC (or the confirmation paper from immigration if you’re waiting for the card) ✅ A Korean phone number (you’ll need it to get SMS verification) ✅ Proof of address in Korea like a rental contract or utility bill ✅ (Optional) Proof of employment or school if you’re opening a salary or student account Once you’re at the branch, the staff will give you a form to fill out. They might ask why you’re opening the account, and in some cases, you’ll be limited to a daily transfer limit at the start - ₩500,000 to ₩1,000,000. This is normal, and you can request to raise the limit later by showing proof like paychecks or bills 💼📈 You’ll usually get your bank card right away, or within a few days by mail 🏦✉️ To use online/mobile banking, you’ll need to install a security certificate and possibly register it at the branch. This part can be confusing, especially since most banking apps are in Korean. But don’t worry, Woori Global Banking, KakaoBank, or K bank have easier setups and some English support 👍📱 Some accounts have small maintenance fees (₩500 to ₩1,000/month), and you’ll get charged if you use ATMs from another bank. So try to use your bank’s ATM whenever possible 🏧💳 If you want to send money abroad, you’ll need to register separately for that. The fees and rates vary depending on the bank. A lot of people also use apps like Wise or Toss to avoid high fees and get better exchange rates 🌍💵 ⏰ Most branches are open from 9am to 4pm, Monday to Friday, so don’t wait too late in the day, don’t be like me aha