Bank account and remittance
Rent, salary and app payments all run through a Korean account. Open one as soon as your ARC arrives.
Typical cost: Free to open, fees apply to overseas transfers · Time needed: About an hour at a branch
Steps
- Get your ARC first — Most banks will not open a regular account without an Alien Registration Card.
- Pick a foreigner-friendly branch — Branches near universities or industrial parks, and bank global desks, process this faster. Call ahead for the document list.
- Expect a limited account — New accounts often start with low transfer limits. Proof of employment or enrolment lifts them.
- Compare remittance channels — Licensed small-amount remittance providers are often cheaper than bank wires. Always confirm the provider is registered.
What to bring
- ARC
- Passport
- Korean phone number
- Proof of employment or enrolment
- Proof of address
Good to know
- Ask for a debit card with transit functionality built in.
- Anti-fraud rules may restrict transfers for the first few days.
Official sources
Visa, tax and legal rules change often. This page is general information — always confirm with the official bodies linked above.