If you’re staying in South Korea for a long time, then you might want to consider opening a bank account so you don’t always need to carry cash around and just have your bank card for convenience. You can purchase anything with just a bank card in almost all stores(small or big) in the city. Ziptoss has made a list of banks you can consider when opening a bank account as a foreigner in South Korea.
KEB Hana Bank (하나은행)
By far, the best Korean bank for foreigners. Most foreigners are very happy with their experience with KEB Hana Bank. They have excellent English-speaking phone support for both banking and credit card services. They also have a flawless online banking system. You can also download the bank’s app for big discounts when exchanging foreign currency.
Their withdrawal limit is at 1,000,000 Won(300,000 Won for new customers).
Shinhan Bank (신한은행)
Shinhan Bank also has good English support and an English website with a wide range of services. They have a lot of branches which makes it an advantage to Shinhan Bank cardholders. Make sure you make a transaction at least once a year, your account automatically shuts down after a year of inactivity.
Shinhan Bank has a withdrawal limit of 300,000 Won per transaction.
Woori Bank (우라은행)
One of the most popular options when opening a bank account is Woori Bank. You’ll see a lot of their ATMs almost everywhere. Their online banking is great as well.
The withdrawal limit for Woori Bank is 1,000,000 Won per transaction(per day).
NongHyup Bank (NH농협은행)
They have knowledgeable staff and great phone support. They provide full exchange rates and a variety of services as well.
Nonghyup Bank has a withdrawal limit of 1,000,000 Won.