KEB Hana Bank

KEB Hana Bank is widely considered the most foreigner-friendly bank in Korea. It has dedicated Foreign Exchange Centers (외환센터) staffed entirely by English speakers, making it the top choice for new arrivals who need in-person banking support.

Who Can Open an Account?

• Foreigners with a valid Alien Registration Card (ARC)

• Foreigners with a passport only — KEB Hana Bank is one of the few banks that allows limited accounts without ARC

• Must have a Korean phone number

• Must be 19 years or older

Documents Required

• Passport — mandatory

• Alien Registration Card (ARC) — for full account features

• Korean phone number — for OTP verification

• Proof of address — may be required at some branches

How to Open an Account

• Step 1: Visit a KEB Hana Bank Foreign Exchange Center — Myeongdong or Itaewon branches recommended for English service

• Step 2: Take a number and wait for a teller

• Step 3: Tell the teller you want to open a basic account (입출금통장)

• Step 4: Present your passport and ARC card

• Step 5: Provide your Korean phone number for OTP

• Step 6: Set a 4-digit PIN

• Step 7: Receive your bankbook — debit card mailed within 7–10 business days

• Step 8: Download Hana 1Q Bank app and register

Best Branches for Foreigners

• Myeongdong Foreign Exchange Center — All staff speak English. Best overall experience for foreigners. Address: 35 Myeongdong-gil, Jung-gu, Seoul

• Itaewon Branch — English service available. Popular with expat community.

• Hongdae Branch — Near many foreigner communities. English-speaking staff available.

• Gangnam Branch — Large branch with full English service.

Key Features

• Hana 1Q Bank app — Available in English. Easy to navigate.

• Global ATM network — Hana Bank cards work at ATMs worldwide

• Competitive foreign exchange rates — Best rates among traditional banks

• International wire transfers — Available in-app and at branches

• Multi-currency accounts — Hold foreign currencies directly

• Foreigner-specific products — Special accounts designed for foreign residents

Sending Money Abroad

• International transfers available via Hana 1Q Bank app or at branches

• Fees: around 5,000–10,000 KRW per transfer plus exchange rate margin

• The 1Q Pay remittance service offers competitive rates for regular transfers

• For cheaper transfers, consider using Wise linked to your Hana Bank account

Pros & Cons for Foreigners

• ✅ Best English support of any Korean bank

• ✅ Can open account with passport only (limited features)

• ✅ Dedicated foreigner service centers

• ✅ Strong international banking capabilities

• ✅ English mobile app — Hana 1Q Bank

• ❌ Must visit a branch in person to open account

• ❌ Some branches have long wait times

• ❌ Fewer ATMs than Shinhan or KB Bank

Tips

• Visit the Myeongdong Foreign Exchange Center for the smoothest account opening experience

• Go on weekday mornings — avoid lunch hours and Fridays

• Bring all documents even if you think you might not need them

• Ask about the foreigner package account — it includes extra benefits for foreign residents

• Set up Hana 1Q Pay for easy mobile payments after opening your account

Contact & Support

• Website: www.kebhana.com

• English helpline: 1599-1111 (press for English)

• Foreigner banking center: 02-2002-1200