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Banking for Foreigners in South Korea: real experience from chats

Short answer
Opening a South Korean bank account requires an Alien Registration Card and a local phone number, which can be challenging for non-residents. Alternatively, services like Gmoneytrans allow remittance and cash withdrawals via a physical card using only a passport for registration. For international banking, users can utilize UnionPay cards, cash, or travel to nearby countries to open foreign accounts.

From real experience

Opening a bank account in South Korea requires a local Alien Registration Card (ARC/ID).
A local phone number is often a prerequisite for a bank account, and some carriers require a bank account for SIM contracts. Non-residents may struggle to open accounts. Long-term absence may lead to service suspension; users should inquire about suspension/dormant status options for both SIM and bank accounts.
✓ 2 reports from chats
Gmoneytrans is a remittance service that can be used from Korea with a passport and a Korean phone number for initial registration.
While a Korean number is needed for setup, it might be possible to change it later. A physical Gmoney card (Quick card) can be obtained with a Russian passport, allowing cash withdrawals even if the Korean phone number becomes inactive. There's a 1500 won withdrawal fee, and the card functions as a transport card.
✓ 1 report from chats
To obtain foreign bank cards, options include using intermediaries for a fee or traveling to countries like Belarus, Kazakhstan, Uzbekistan, or Kyrgyzstan.
For infrequent travel, consider using cash or UnionPay from banks like RSB/ATB.
✓ 1 report from chats

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