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This service is provided via an automatic translator. Hence, there may be some errors in the translation.
This service is provided via an automatic translator. Hence, there may be some errors in the translation.
Open a bank account
STEP 01
Go to the band - take your passport with you.
STEP 02
Take a numbered ticket and wait for your turn.
STEP 03
When it is your turn, go to the bank teller and get a new bank account application form to fill out.
STEP 04
Please write your name, alien registration number, address, and contact information.
STEP 05
Please enter the 4-digit password as instructed by the staff.
STEP 06
If necessary, apply for an ATM card (check card).
STEP 07
Keep your passport with you and do not show it to anyone.
Make a deposit
Fill out the deposit or withdrawal form and bring it to the counter.
Deposits do not require a password, but withdrawals require both a password and a signature (or seal).
Using banking services without a visa
Without a visa, you cannot use banking services. Nevertheless, carrying cash is not safe, and you can open an account in someone else's name.
Be careful whether you really trust that person. Go to the bank together and open an account, but enter your PIN. Keep your seal and passbook safe..
Using an ATM
An ATM is a machine that allows you to deposit or withdraw cash or checks using your passbook or ATM card.
The exact procedure will vary from bank to bank, but it is easy enough that anyone can use it after a try or two.
In most cases, the screen descriptions are in Korean. Some ATMs have descriptions in English or Chinese, but other languages are not currently available.
When using an ATM, remember your password.
If you enter the wrong password three times in a row, you will no longer be able to use your account or card.
In that case, please bring your ID and go to the staff to show them that the passbook and card are yours.
You can then change your password and use the ATM again.
When you withdraw money from an ATM, you have to pay a fee.
The amount varies from bank to bank, but is usually between 500 and 2,000 won.
Payment of utility bills
Utility bills are electricity, water, TV license, gas, and mobile phone bills. If your employer pays the bills, you don't have to worry about them.
If not, you should check the amount on the various utility bills that are mailed to you every month and pay them at the nearest financial
institution, such as a bank or post office.
You can take your bill to your financial institution and pay it in person. Many banks today do not accept these payments over the counter.
In that case, you can use an automatic payment terminal. To use the terminal, you need a bankbook.
You can sign up for automatic transfer payments so that the bill amount is withdrawn from your bank account on a specified date each
month. You can apply at your bank or call your billing institution to apply by phone. After you sign up, you must remember the payment date
to make sure that you have enough money in your account. If you fail to make a payment due to insufficient money twice in a row, your
service will be suspended. You must cancel your automatic transfer agreement one month before you return home or move to another location.
ATM card
You can deposit and withdraw cash without a passbook or seal.
Check Card
Cash can be deposited and withdrawn, and if you purchase with a debit card, the amount will be with drawn from your bank account
immediately after payment. You cannot borrow money from a bank with a debit card.
Banking Hours
9am - 4pm, Mon - Fri
Remittance
The safest way to send money is through a bank. Almost all banks offer international money transfer services.
Service fees vary from bank to bank.
First, open a bank account in your home country under your family's name. Take the recipient's name, address, phone number, bank name, account number, and ID to the foreign currency counter at the bank. The teller will handle the rest. Keep the remittance receipt for your records. The next time you go to the bank to send money, you can save time by taking this receipt with you. Some people use a wire transfer (cheque) service, but this is not a good option. Only three countries, Thailand,Indonesia, and the Philippines, accept remittance checks from Korea and it takes a very long time for the funds to arrive.
The best way to send money home is to have your family open a bank account in your home country and send money to that account.
Many people use personal remittance services (brokers) to send money home instead of formal financial institutions such as banks or post offices. Personal remittance services are faster, cheaper, and more convenient. However, there is always a risk of losing money. Service providers often run away with your money. Be careful.
