Opening a bank account in Korea as a foreigner (2026): documents, banks and the limited account
With or without a residence card: documents to bring, the easiest banks and how to lift the "한도제한계좌" limit (₩1 million a day online).
Machine translation from French, being reviewed. Read the French version (reference)
Contents
A Korean account lets you receive a salary, pay rent or use payment apps. The process depends mainly on one thing: do you already have your residence card (ARC)?
Without a residence card: a limited account
Without an ARC, or without proof of income or employment, the bank usually opens a limited account (한도제한계좌)1. You usually need1:
- your passport, valid for at least 6 more months;
- a Korean phone number, for identity verification;
- proof of address less than 3 months old (lease, or a dated and signed letter from your host). A hotel booking is rarely accepted.
With a residence card: a regular account
Bring your residence card, your passport and proof of the account's purpose1:
- employee: employment certificate and contract;
- student: enrolment certificate and student ID;
- teacher: contract signed by the school.
The limited account: the real amounts
Many guides still quote a ₩300,000 limit. It was raised on 2 May 2024 by the Financial Services Commission2:
| Operation | Daily limit |
|---|---|
| Online or app transfer | ₩1,000,000 |
| ATM withdrawal | ₩1,000,000 |
| At the counter | ₩3,000,000 |
The increase applied automatically to existing accounts2.
Lifting the limit
Banks usually want about 3 months of history or proof of income1:
- receive your salary into the account for 3 months;
- or pay your bills (electricity, building fees) from the account 3 months in a row, then bring the receipts to a branch1.
Which bank?
According to Korea Experience, KEB Hana Bank is the most used to foreigners, with dedicated desks in Itaewon, Hongdae or Gangnam and an app in 16 languages. Woori Bank works with several universities; Shinhan and KB Kookmin offer English service that varies by branch1.
In DariResidence card (ARC): the pageFrequently asked questions
Can I open an account in Korea without an ARC?
Often yes, but it will be a limited account, and you usually need a Korean number and proof of address1.
What is the limit of a 한도제한계좌?
Since 2 May 2024: ₩1,000,000 a day online and at ATMs, ₩3,000,000 at the counter2.
Sources
- Korea Experience, « Opening a Korean bank account for foreigners » · checked on 26 October 2026
- SBS Biz, relèvement des plafonds des comptes à plafond (한도제한계좌) annoncé par la Commission des services financiers (01/05/2024) · checked on 26 October 2026