← Life hacks · Korea: money · Life in Korea · Workers · Students · Korean residents
Opening a bank account and sending money
What to bring and what to expect as a foreigner.
- Bring your ARC (residence card), passport, Korean phone number and, if asked, proof of work or study.
- New accounts often have low transfer limits at first; this is normal fraud protection and limits can be raised later.
- Inside Korea, transfers by app (bank app, Toss, KakaoBank) are instant and usually free.
- For sending money abroad, compare the total cost (fee + exchange rate) of your bank and licensed remittance apps.
- Never lend your bank account or card to anyone – it is a crime in Korea (voice phishing laundering).