Seoul preview

South Korea

The banking system in Seoul is efficient, safe and well-organized. Many expats marvel at how, in comparison to obtaining a work visa, banking is so easily done. While some expats may feel more comfortable doing their banking with an international financial group, the majority of expats in South Korea simply create a bank account with a Korean bank. It's very easy to create an account, every bank has at least one clerk who can speak English, and they are far more representative of banking in Korea. Banks in Seoul are open from 9 AM to 4 PM on weekdays.

You will find ATM's all over Seoul - literally everywhere! Some accept foreign debit cards, but many only accept Korean debit cards. Even ATM's found in banks will often not accept foreign cards, so be sure to ask your banker if that is possible before creating your bank account. Most ATM's in subway stations accept foreign debit cards, and Citibank's ATMs usually accept foreign cards. This is rarely a problem for expats, as most have their accounts set up and have Korean debit cards as well as their debit cards from home.

If you use an ATM from the bank you do business with, there usually isn't a charge during the day and it's much smaller after bank hours than if you used a different bank's…