Can I open a Korean bank account on a tourist visa?

Generally no. Most banks require an Alien Registration Card (ARC), which short-term visitors do not have. Some banks offer limited non-resident accounts, but functionality is heavily restricted.

Why can I not use transfers for the first 20 business days?

Anti-fraud rules classify new accounts opened without proof of purpose as "limited accounts" (한도계좌), capping ATM withdrawals and transfers until you provide documents such as an employment contract or proof of regular income.

Which bank is easiest for foreigners?

It varies by branch more than by bank. Banks with dedicated foreigner desks or English apps (KB, Shinhan, Woori, Hana) are common choices; availability of English support depends on the branch.

Banking

How to Open a Bank Account in Korea as a Foreigner

Published August 23, 2026Last verified August 23, 2026

Draft — outline only. Flesh out each section with verified figures before publishing.

Outline

1. What you need before walking into a branch

Alien Registration Card (ARC) — the practical prerequisite
Passport, Korean phone number, proof of address
Employment contract / certificate of enrollment (removes account limits)

2. Limited accounts (한도계좌) and the 20-day rule

Daily ATM / transfer caps for new limited accounts
Which documents upgrade you to a full account
The 20-business-day rule between opening accounts at different banks

3. Choosing a bank

KB, Shinhan, Woori, Hana — branch coverage vs. app quality
Internet banks (KakaoBank, Toss Bank, K bank) — ARC requirements
English apps and customer service reality check

4. Step-by-step at the branch

What to say, what forms to expect, how long it takes
Getting a debit (check) card and internet banking on day one

5. Sending money home

Bank remittance vs. licensed remittance apps
Annual foreign-currency reporting thresholds

6. Common problems

Branch refuses without an employment certificate
Phone verification loops without a Korean number

Frequently asked questions

Can I open a Korean bank account on a tourist visa?: Generally no. Most banks require an Alien Registration Card (ARC), which short-term visitors do not have. Some banks offer limited non-resident accounts, but functionality is heavily restricted.
Why can I not use transfers for the first 20 business days?: Anti-fraud rules classify new accounts opened without proof of purpose as "limited accounts" (한도계좌), capping ATM withdrawals and transfers until you provide documents such as an employment contract or proof of regular income.
Which bank is easiest for foreigners?: It varies by branch more than by bank. Banks with dedicated foreigner desks or English apps (KB, Shinhan, Woori, Hana) are common choices; availability of English support depends on the branch.

Last verified: August 23, 2026

Official sources

This article is general information, not financial, legal, or tax advice. Requirements and figures change; confirm the current rules with the official sources above before making decisions.