Opening your first Korean bank account: what to bring

A bank account is one of the first things you need in Korea. The Seoul city guide for foreign residents lists what to bring, and it also explains why one branch may say yes and another no.

At a branch

• ID: your passport and your foreigner registration card (외국인등록증, now also issued as the Residence Card).
• Some money for the first deposit.
• A seal (도장) if the bank asks for one.
• You can ask for a check card (체크카드) at the same time.
• The guide names KB Kookmin, Shinhan, Hana, Woori and IBK as banks where you can open an account.
• Branches open weekdays 9:00 to 16:00. Most are closed at weekends and on holidays.

By app
Internet banks and some banks open accounts in their app. The guide lists Toss Bank, Shinhan and Woori. You may need your registration card and a mobile phone in your own name, and the guide says availability depends on the bank and on your visa.

Why the bank asks what the account is for
Since 2012 banks must confirm the purpose of a new account, to stop accounts being sold to scammers. If you cannot show proof of that purpose, for example a salary, the bank may open a limited account (한도제한계좌) with small daily limits instead. We explain that in a separate post.

It depends on your visa, the bank, and whether you have a Korean phone in your name. Requirements differ between banks, and the Seoul guide says so itself.

Next step: bring your passport and registration card, know what the account is for, and bring proof if you have it, such as a work contract or a student card.

Sources: Seoul guide for foreign residents, banking; Financial Services Commission, 2 May 2024. Checked 11 October 2026.