How to Open a Bank Account in Korea Without Korean ID

One of the most common questions foreigners ask about Korea is: "Do I really need a Korean bank account?" The short answer is — it depends on how long you're staying. But if you're here for more than a month, there will almost certainly come a moment when you need one. Here's everything you need to know, from why you need it to how to open one step by step.

The Quick Answer

Foreigners can open a bank account in Korea. The basic requirements are a passport and an Alien Registration Card (ARC). Some banks allow account opening with just a visa and passport, but policies vary by branch. You do not need to speak Korean — several banks offer English-language service.

Do You Actually Need a Korean Bank Account?

If you're visiting Korea for a short trip (under one month), you probably don't need one. A foreign debit card or a global card like Wise or Revolut will cover most of your needs.

But if any of the following situations apply to you, a Korean bank account isn't optional — it's essential.

Situation	Why You Need a Korean Account
Starting a job in Korea	Your salary will be paid into a Korean account
Studying at a university or language school	Tuition and dormitory fees require local transfer
Renting a room or apartment	Monthly rent is paid by bank transfer
Using Korean delivery or shopping apps	KakaoTalk Pay, Naver Pay require a linked Korean account
Receiving a tax refund	Refunds are deposited directly into a Korean account
Renewing your visa	A bank statement can serve as proof of financial stability

Not sure yet? If you've just arrived and are still waiting for your ARC, skip to the section below on what to use in the meantime.

What to Use Before You Have a Korean Bank Account

Here's the problem most new arrivals face: opening a Korean bank account requires an ARC (Alien Registration Card), and getting your ARC takes 2 to 4 weeks after you apply at the immigration office. So what do you do in between?

These options will cover you during that gap period — and honestly, some of them are worth keeping even after you have a Korean account.

"Foreigner opening bank account in Korea with bank staff assistance"

Wise (Most Popular Among Expats)

Wise is a multi-currency account you can set up from your home country before you even arrive. In Korea, it works like a debit card — you can pay at most stores, withdraw cash from ATMs, and receive money in multiple currencies.

Real exchange rates (no markup)
Low transfer fees compared to banks
Works for most card payments in Korea
Great for sending money home even after you open a Korean account

Revolut

Similar to Wise, Revolut is a global financial app that works well in Korea for everyday spending. It supports multiple currencies and has a physical or virtual card you can use almost anywhere.

Free plan available
Instant currency conversion
Useful for travel within Asia

Your Home Country Card (Short-Term Fix)

If you already have a Visa or Mastercard debit or credit card with low foreign transaction fees, this can work for the first few weeks. Just watch out for ATM withdrawal fees and currency conversion charges — they add up quickly.

💡 Pro tip: Even after opening a Korean bank account, keep your Wise or Revolut account active. Korean banks charge ₩5,000–₩15,000 per international transfer. Wise and Revolut are significantly cheaper for sending money abroad.

Which Korean Bank Should You Choose?

Not all banks are equally foreigner-friendly. Here are three that consistently work well for foreigners.

"Modern Korean banks blend traditional design elements with contemporary service—and many offer full English support."

1. KEB Hana Bank (하나은행) — Best for Expats Overall

Hana Bank has the most established foreigner-friendly infrastructure in Korea. They offer dedicated expat service centers, English-speaking staff at major branches, and an English-language app.

English support: Strong — dedicated foreigner centers in Seoul and major cities
App: Global One Hana (English available)
Good for: Workers, long-term residents, expats who want full English service
Note: Hana Easy Remit is one of the cheapest ways to send money overseas from a Korean bank

2. Shinhan Bank (신한은행) — Best App for Foreigners

Shinhan's mobile banking app (SOL) has good English support and is widely regarded as one of the easiest apps for foreigners to navigate.

English support: Available at major branches and via app
App: SOL (English interface available)
Good for: Students, younger expats, anyone who wants to manage banking from their phone
Note: Shinhan has dedicated university branches near major campuses (Hanyang, Korea University, etc.) with foreigner-specific account opening services

3. KB Kookmin Bank (국민은행) — Best for Nationwide Access

KB is Korea's largest bank with the most branch and ATM locations nationwide. Since March 2025, KB's app (KB Star Banking) allows foreigners with a mobile ARC to open an account without visiting a branch.

English support: Available at major branches
App: KB Star Banking (foreigner account opening available via app)
Good for: Anyone who wants maximum ATM access across Korea
Note: KB WELCOME 통장 is a dedicated account product for foreigners

Bank	English App	Branch English Service	Best For
KEB Hana Bank	✅	✅ Strong	Expats, workers
Shinhan Bank	✅	✅ Good	Students, app users
KB Kookmin Bank	✅	✅ Available	Wide ATM access

What Documents Do You Need?

"Required documents checklist for opening bank account Korea foreigner ARC passport"

Requirements vary slightly by bank and branch, but here's a general guide.

Document	With ARC	Without ARC
Passport (original)	✅ Required	✅ Required
ARC Card (외국인등록증)	✅ Required	❌ Not available yet
Korean phone number (for OTP)	✅ Required	✅ Required
Proof of purpose (employment contract, enrollment letter)	Varies by bank	Usually required
Korean address proof (lease contract, utility bill)	Some banks require	Some banks require

No ARC yet? A small number of branches — particularly those near foreign embassies or in expat-heavy areas — may open a limited account with just a passport and visa. Policies change frequently, so it's worth calling ahead or visiting in person to ask.

Mobile ARC (as of March 2025): If you have the mobile version of your ARC card on your phone (issued by Korea Immigration Service), KB Kookmin Bank and five other banks now accept it for account opening — including via app.

Step-by-Step: Opening Your Korean Bank Account

Step 1: Prepare Your Documents

Before heading to the bank, gather:

✅ Original passport
✅ ARC card (physical or mobile)
✅ Korean SIM card / phone number (you'll need this for OTP verification)
✅ Employment contract or enrollment letter (if required)

Step 2: Find the Right Branch

Not every branch has English-speaking staff. For the best experience, look for branches in areas with high foreigner populations:

Seoul: Itaewon, Hongdae, Sinchon, Gangnam
Outside Seoul: Songdo (Incheon), Pyeongtaek, Daejeon university areas

Call the branch ahead of time and ask: "Do you have English-speaking staff available for account opening?"

Step 3: At the Bank

Take a queue number (번호표 / beon-ho-pyo) at the entrance
When called, tell the teller: "I'd like to open a bank account." — or show this: "계좌를 개설하고 싶어요" (gye-jwa-reul gae-seol-ha-go si-peo-yo)
Present your documents
Fill out the account opening form — English versions are usually available
Set up your PIN and receive your debit card (most banks issue the card on the spot)

Step 4: Set Up Online Banking

Once your account is open, set up mobile banking before you leave the branch — staff can help you with this. You'll need:

Your Korean phone number (for OTP)
A digital certificate (공인인증서 / gong-in-in-jeung-seo) — the bank will guide you through this

⚠️ Common issue: Korean banking apps sometimes have compatibility issues with non-Korean phones or overseas App Store accounts. Ask bank staff to help you download and set up the app before you leave.

Practical Tips

Call ahead to confirm English service. Even at foreigner-friendly banks, not every branch has English staff on duty every day. A quick phone call saves you a wasted trip.

Bring more documents than you think you need. Banks sometimes ask for additional proof depending on your visa type. Carrying your employment contract, enrollment letter, or lease agreement — even if not explicitly required — can prevent you from having to come back.

Your Korean phone number is essential. Every Korean bank uses OTP (one-time password) verification via SMS. If you don't have a Korean number yet, get a SIM card before you go to the bank. (See our guide: How to Get a SIM Card in Korea as a Foreigner)

Keep Wise or Revolut for international transfers. Once your Korean account is open, use it for local spending. But for sending money home, Wise and Revolut almost always offer better rates than Korean bank wire transfers.

FAQ

Q: Can I open a Korean bank account without an ARC? It's difficult but not always impossible. Some branches in foreigner-heavy areas may open a limited account with a passport and valid visa — but this varies by branch and bank policy. Your safest bet is to apply for your ARC first, then open a bank account once it arrives.

Q: If I have Wise or Revolut, do I still need a Korean account? For short stays, probably not. But for anything longer — receiving a salary, paying rent by transfer, using Korean apps — you'll need a local account. Wise and Revolut are great supplements, not full replacements.

Q: Which bank has the best English service? KEB Hana Bank is generally considered the most foreigner-friendly, with dedicated expat centers and consistent English support. Shinhan Bank is a close second, especially for app-based banking.

Q: Can I use a Korean bank app on a foreign phone? Yes, but it can require extra steps. Some apps have had compatibility issues with phones purchased outside Korea. Ask bank staff to help you set up the app in-branch — it's much easier than troubleshooting it at home.

Q: Will I get my debit card on the same day? Most Korean banks issue the debit card immediately at account opening. You'll leave the branch with a working card. The account number is also available immediately.

Q: What is the minimum deposit to open an account? Most Korean banks have no minimum deposit requirement for basic checking accounts. Some accounts may require a small initial deposit (₩1,000–₩10,000), but this is refundable and not a common requirement.

How to Get a SIM Card in Korea as a Foreigner
How to Register Your Address in Korea (ARC Guide)
How to Send Money Home from Korea

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