# Opening a Bank Account in Korea as a Foreigner: What to Bring > What foreigners need to open a bank account in Korea. Passport and ARC, why every bank and branch differs, Korean phone numbers, limit accounts, and autopay. Canonical: https://setkora.com/guides/opening-bank-account-korea-foreigners (also in 13 languages: https://setkora.com/guides//opening-bank-account-korea-foreigners) Opening a Korean bank account is one of the first real errands of life in Korea. You need one to receive a salary, pay rent, put utilities on autopay, and use the transfer apps everyone around you relies on. The good news: for most foreign residents it is a routine branch visit once you have the right documents. The catch: requirements are not written down in one national rulebook. Each bank, and sometimes each branch, applies its own policy. This guide covers what to bring, what tends to vary, and how to set the account up for everyday life. ## What to bring: the documents most banks ask for There is no single nationwide checklist (each bank sets its own requirements) but most foreign residents are asked for some combination of the following: - **Passport**: bring the original, not a copy. It is the baseline ID at almost every bank. - **Alien Registration Card (외국인등록증)**. Most banks want to see an ARC (or the newer Residence Card) before opening a regular account. If you have applied for one but not yet received it, a bank may still be able to help (often with a more restricted account) but this is exactly the kind of thing that varies from bank to bank. - **A Korean phone number**: needed to register the banking app and for identity verification. More on this below. - **Proof of purpose or status**: some banks or branches also ask for a certificate of employment, a certificate of enrollment from your school, or a housing contract. Not always requested, but often decisive when it is. The lazy-but-effective strategy: bring more than you think you need. A document nobody asks for costs nothing; a missing one costs a second trip. ## Every bank (and sometimes every branch) plays by its own rules The single most useful thing to understand is that requirements are set bank by bank, and in practice they can differ branch by branch too. One branch may open your account with a passport and ARC in a single quick visit; another branch of the same bank may ask for an employment certificate, or suggest you come back after you have been in Korea longer. Rules also change over time, so a friend's experience from last year is a hint, not a promise. - **Call ahead or check the bank's website** for its current document list for foreign customers, and confirm whether the branch you plan to visit handles foreigner account opening. - **Try a branch near a university or an international district**: staff there tend to see foreign customers more often, and some branches offer service in English or other languages. - **Go on a weekday, early**: Korean bank branches generally close mid-afternoon, and account opening takes longer than a simple errand, especially with translation involved. - **If one branch says no, try another**: a refusal is often a branch-level policy call, not a nationwide verdict on you. ## Get a Korean phone number before you go A Korean mobile number is, in practice, close to a hard requirement. Banks use it to register you for their app and for the SMS-based identity verification (본인인증) that runs almost everything online in Korea. Bank transfers, shopping, delivery apps, even government websites. A bank might open a basic account without one, but you would be locked out of most of what makes the account useful day to day. So the practical order for a newcomer is: **SIM first, bank second**. Our [Korean SIM card and phone number guide](https://setkora.com/guides/korea-sim-card-phone-guide) walks through the options. Including what you can set up before your ARC arrives and what needs to wait. Bring that phone with you to the branch. Staff will usually help you install the bank's app, register your number, and set up mobile banking on the spot. Far easier than trying to do it alone at home with a Korean-only error message. ## Limit accounts (한도계좌): why your transfer cap starts low Don't be surprised if your brand-new account comes with a low daily cap on transfers and ATM withdrawals. As an anti-fraud measure, Korean banks commonly open accounts for new customers (Koreans included) as a **limit account (한도계좌)**, and the cap stays until the bank has a reason to lift it. - **What usually lifts the limit**: documents that show regular activity or a clear purpose: a certificate of employment, salary payments arriving in the account, a housing contract, and so on. The exact list, and the limits themselves, are up to each bank. - **Ask at the counter**: if you know you will need larger transfers (a housing deposit, sending money home), tell the staff when you open the account so they can explain that bank's upgrade path. For everyday life (card payments, bill autopay, small transfers) a limit account is usually workable, so it is rarely a reason to put off opening the account. Upgrade later, when you have the paperwork. ## Set up automatic payments (자동이체). Then everything gets easier Once the account is open, the biggest quality-of-life move is setting up **automatic payments (자동이체)**. Rent, utilities, phone plans, and subscription-style services in Korea are all commonly paid this way, and autopay means no missed due dates while you are still learning to read Korean bills. - **Utilities**: electricity, gas, and water can each be put on autopay; our [utility bills guide](https://setkora.com/guides/utility-bills-korea-foreigners) explains how each bill works and how to register. - **Phone plan**: postpaid plans usually bill your account or card monthly. - **Appliance and furniture rentals**: monthly rental fees are typically billed by automatic transfer or a Korean card, so a working bank account is one of the practical prerequisites for renting; see our [appliance rental guide for foreigners](https://setkora.com/guides/renting-appliances-in-korea-foreigner-guide) for how the rest of the process works. A bank account is one of the handful of first-month tasks that unlocks all the others. See our [first month settling-in checklist](https://setkora.com/guides/first-month-in-korea-settling-checklist) for where it fits among the rest. ## FAQ **Q: Can I open a Korean bank account with just a passport?** A: Sometimes. A bank may open a restricted account with a passport alone, but many ask for an Alien Registration Card, and policies differ by bank and branch. If you can wait until your ARC arrives, the visit is usually smoother and the account more useful. **Q: Do I need a Korean phone number to open a bank account?** A: In practice, yes. The number is used to register the banking app and for the SMS identity verification (본인인증) behind most online services in Korea. Get a SIM first (our SIM card guide covers how) and bring the phone to the branch. **Q: Why is my daily transfer limit so low?** A: Your account was most likely opened as a limit account (한도계좌), which Korean banks commonly use for new customers as an anti-fraud measure. Showing documents such as a certificate of employment, or receiving salary payments into the account, can lift the limit. The exact requirements are up to each bank, so ask at the counter.