Opening a Bank Account in South Korea as a Foreigner (2026)
By WCS Last reviewed and updated: July 18, 2026 · Checked against official Korean government sources. Key takeaways Bring three originals (not photocopies): your Alien Registration Card (ARC), passport, and a Korean mobile number for SMS OTP. Residence Card processing time varies by office and current workload; check the appointment and collection instructions. Hana (Hana EZ app) and Shinhan (SOL) have the strongest English support and Global Desks; seek a Global Desk branch in areas like Itaewon, Hongdae, or Busan/Daejeon international districts. Since 2 May 2024, new 'limited accounts' default to ~₩1,000,000/day for internet, mobile, and ATM transfers, plus ₩3,000,000/day at the counter -- not the outdated ₩300,000 figure. A bank, product, or account may have a different cap from the FSC general limited-account baseline; do not infer a ₩300,000 limit from D-2 status or foreign nationality. Confirm the exact ATM and transfer limits for the account with the bank. Lift the ...