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Is it easy to open a bank account in Korea?

I’m going to be studying at Yonsei university, and when I have to extend my visa I’m guessing I need bank statements which will be too hard to get from home (Plus the fee to withdraw and cell phone contract etc)

Is it easy to open an account? and what will I need to do it?

Thanks in advance

Hey mate, i just checked about this at one of korean banks called Shin Han bank.

first of all, you need “foreigner ID card” to open a bank account and buy a mobile
and maybe visa, home address as well.

in australia it was usually free to widrawl money anytime anywhere

but in korea it’s free during their working time that is usually 09:00-17:00 mon-fri

after that you have to pay about 500won to 1000won(50c-$1)

but if you’re VIP member ,which i don’t think so , that would be cheaper or free.

my advice is get a debit card called check card in korea. and no annual fee. we don’t charge extra fee to use credit or debit card to pay. if anyone asks you to pay extra fee for that you can report to the government office.

it’s their call centre number. +82-1577-8380 or 82-2-3449-8380 (09:00 – 17:00 mon-fri korean time)
(they speak english, chinese, japanese)

another one is called Woo-ri bank.
82-2-2006-5000 (press 0 -> 7 for foreigners / 09:00 – 17:00 mon-fri korean time)

don’t buy a prepaid phone in korea it’s not that cheap like in australia.

and if you know any korean friend it would be much easier to open a bank account and buying a mobile.

if you a mobile online it’s much cheaper and you could get some gift or cash as gift

when i was in australia it wasn’t that hard to open a bank account and buy a prepaid mobile
maybe that’s because there were so many foreigners in australia

but it’s an asian country unfortunately haha

if you need more help let me know. i live in seoul
kimyongjeon@gmail.com

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