Opening a Bank Account
With your ARC you can open a bank account in your own name. Due to anti-fraud rules, new accounts often start as a “limited account” with caps on transfers and withdrawals. This is a normal first step — limits can be lifted as you build transaction history (salary deposits, debit card use) or show proof of job/income.
Based on official sources · verify before deciding· as of 2026-06-09
What to bring
- ARC (or passport)
- A mobile number in your name (for identity verification)
- Proof of purpose — employment certificate, contract, or enrollment certificate (for raising limits)
- Proof of address (if requested)
Step by step
- 1Visit a major bank branch (KB, Shinhan, Woori, Hana, NH, etc.) — check for foreign-language service first
- 2Apply after ID verification (register the English spelling exactly as on your passport)
- 3Set up a debit card, mobile banking, and internet banking together
- 4If limited, build activity/proof and ask the branch to raise the limits
Tips
- ⚠️ Never lend your bankbook or card to anyone — a “borrowed account” is a crime and can freeze your account or lead to punishment.
- A limited account is a normal anti-fraud step. Don’t worry if limits aren’t lifted at once.
- Some banks allow app-based opening, but for foreigners a branch visit is usually more reliable.
- If your name differs between passport and account, it can cause issues with remittances and tax filing.
Related guides
This is general guidance and may change over time. Always verify the latest details with the official source before applying.
Last updated: 2026-06-09