Open an Account
Opening a bank account is the first hurdle in Korea. Pick your situation and see what you can do right now, and what to bring.
The ARC (외국인등록증) is the resident card you get after you register your stay.
With your ARC and a Korean number, you can usually open a full account. A branch works, and many banks let you do it right in the app.
- ✓Open a full account with a debit card
- ✓Set up mobile banking
- ✓Send and receive money, in Korea and abroad
How it works
You tell it whether you have an ARC, whether you have a Korean number, and how long you’re staying. It then shows which account and card you can realistically get right now, what to bring, and your next step. No need to ask each bank one by one.
The ARC (외국인등록증) is your resident ID card. Full accounts, mobile banking and card approvals mostly depend on it. Without one, you’re usually limited to a basic passport account at some banks.
In practice, yes. It’s used for identity verification, one-time passwords and the mobile banking app. Get a Korean SIM early and most of the rest opens up.
No. Everything runs in your browser. Nothing you select is sent to a server or stored.
New here? Most people go: get your ARC → get a Korean SIM → open an account with a debit card → set up the mobile app. Each step opens up the next one.
Foreign-issued cards (especially some Visa debit cards) are often declined at Korean ATMs and online checkouts. A local debit card avoids most of that. Korea runs largely cashless.
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Questions people ask
We don’t rank banks. Look at English support, whether the app lets foreigners sign up, and the fees. Most major banks take foreign customers; among internet-only banks, check which ones currently let foreigners sign up. Compare what fits your visa and your language.
More banks allow it now, as long as you have an ARC and a Korean phone number for verification. Without those, take your documents to a branch, and ask whether you can do it in the app next time.
Usually not right away. Banks want Korean income or a credit history first; the alternative is a card backed by a deposit you leave as security. Start with a debit (check) card and build history over time.