How to open a bank account
Most students at Yonsei open accounts at Woori Bank (English Information: 1588-5000, Press #7), because it has a number of ATMs on campus and is easily found throughout the city.
It is recommended that you deposit your cash into your bank account for safety, and don’t carry around too much cash.
Things to Prepare
- Passport & Foreigner Registration Card
- Personal Information : Current Mailing Address in Korea, Mobile Number
Banks on Campus
When are banks open?
Nationwide, banks are generally open from 9:30 a.m. to 4:00 p.m. on weekdays. However, many operate ATM kiosks that are open late or 24 hours.
How can I withdraw/send money abroad?
ATMs that accept international bank cards can be found in the Woori Bank in the Student Union Building. There are many international ATMS throughout the city, but not all can do international transactions. Be careful to look at the stickers on the machine to know if it is an international ATM.
International ATMs can make transfers with bank cards linked to Cirrus, Plus, MasterCard, VISA and some other major international networks. Keep in mind that there is usually a fee for withdrawing money outside of your home country. You should also avoid cash advances on your credit card if possible because on top of the transaction/transfer fee, you will be charged interest on your withdrawal.
Online banking is a financial system that enables a bank’s customers to conduct a range of financial transactions online. To use online banking services, foreigners should visit a bank and be issued an authentication certificate and personal security card/OTP.
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