Last reviewed: October 16, 2026 · We will update this page when the overseas debit card (planned for December 2026) and the 2027 services launch.
Quick answer
- Yes, foreigners can now open a KakaoBank account. The “foreigner account” (외국인통장) opened on October 12, 2026 in the regular KakaoBank app (version 2.65 or later).
- You must be 19 or older, living in Korea, and hold a Korean-issued ID: an ARC, Domestic Residence Report card, Permanent Residence card, Korean driver’s license or mobile ID.
- New accounts are limited accounts: up to KRW 1 million a day by app transfer and KRW 500,000 a day at ATMs.
- You can get the Friends debit card (Korea only for now; an overseas version is planned for December 2026) and send money abroad through Hanpass to about 200 countries.
- The app can be shown in English, Chinese or Vietnamese with AI translation.
Who can open a KakaoBank account
According to KakaoBank’s notice, the foreigner account is for foreign nationals who are:
- 19 or older
- Residents of Korea under the Income Tax Act and the Foreign Exchange Transactions Act. In general, foreigners who work in Korea or have stayed for 6 months or more count as residents. Tourists and short-term visitors cannot apply.
- Holding one of these Korean-issued IDs:
- Alien Registration Card (ARC, 외국인등록증)
- Domestic Residence Report card (국내거소신고증, for F-4 and other overseas Koreans)
- Permanent Residence card (영주증, F-5)
- Korean driver’s license
- Mobile ID (모바일신분증)
Each person can hold up to 2 foreigner accounts. The notice does not restrict any visa type. You also need a mobile phone registered in your own name (reported).
How to open it in the app
- Install or update the KakaoBank app to version 2.65 or later.
- Find the foreigner account through one of two entry points: the “Start foreigner account” banner on the home screen, or All tab → Accounts → Foreigner account.
- Follow the chat-style screens. The app asks questions one by one. If your phone’s language is not Korean, you can switch the screens to English, Chinese or Vietnamese.
- Verify your identity. KakaoBank uses a selfie (face) check and pulls your name, nationality and address from public records, so you type less (reported).
- Upload documents if asked. Most applicants finish in about 5 minutes. If extra review is needed, the app may ask for papers such as a certificate of employment or a pay slip (reported).
Korean menu names: 외국인통장 시작하기 (home banner) · 전체 → 통장 → 외국인통장.
The KRW 1 million daily limit
Every new foreigner account opens as a limited account (금융거래한도계좌). Korean banks use this account type to prevent fraud.
| Channel | Limit |
|---|---|
| Transfer in the mobile app | Up to KRW 1,000,000 per transfer and per day |
| ATM withdrawal or transfer | Up to KRW 500,000 per day |
| Interest | 0.10% a year (as of October 1, 2026, before tax), paid monthly |
The limit is a real constraint if you plan to pay rent or a deposit from this account. The notice does not explain how or when the limit can be raised. Ask KakaoBank’s chat support in the app before you rely on it for large payments. For large one-off payments, an account at a branch bank is usually easier; see the bank account guide.
Friends debit card
- Once you have the foreigner account, you can apply for the Friends debit card in the app.
- For now there is one design for use in Korea only. A version that works abroad is planned for December 2026.
- Cashback: 0.2% on weekdays and 0.4% on weekends and public holidays, paid on the 10th of the next month.
- Card limit: KRW 6 million a day and KRW 20 million a month.
- Fee: KRW 2,000, charged only when you replace a lost or damaged card.
If you want public transport refunds as well, see our K-Pass registration guide and check whether your card supports it before you register.
Sending and receiving money abroad
- Sending: KakaoBank works with the remittance company Hanpass, so you can send money to about 200 countries inside the app. This is a Hanpass service with limits of USD 5,000 per transfer and USD 50,000 per year.
- Receiving: money sent from abroad into your KakaoBank account is free to receive. KakaoBank says this waiver runs until September 2027 and will announce separately whether it is extended.
Hanpass fees and exchange rates are shown before you confirm a transfer. To compare them with other services, see our remittance guide.
Group account, Safe Box and language support
- Group account service (모임통장): manage shared money for family, friends or a club. The account owner controls withdrawals.
- Safe Box (세이프박스): park spare money and earn daily interest, 1.80% a year as of October 1, 2026, before tax.
- Balance in other currencies: you can view your balance converted into a foreign currency.
- Language: AI translation shows the whole app in English, Chinese or Vietnamese if your phone is set to a language other than Korean. Support is available through a KakaoTalk foreign-language chat and an AI chatbot.
What is not available yet
- Overseas card payments: the overseas Friends debit card is planned for December 2026.
- Savings and term deposits, open banking and loan comparison: planned for 2027 (reported). Loans for foreigners are not on the 2027 list.
- More languages: KakaoBank plans to expand from 3 to 7 languages in 2027 (reported).
- Under 19s and short-term visitors cannot open the account.
KakaoBank, Toss Bank or a branch bank?
KakaoBank now joins Toss Bank in letting foreign residents open an account without visiting a branch. Which one suits you depends on what you need:
- Choose KakaoBank if you want an English, Chinese or Vietnamese app, a debit card with cashback and built-in Hanpass transfers.
- Choose a branch bank if your employer requires a specific bank for salary, or you need to move large sums soon after opening.
For the full comparison of branch banks, Toss Bank, KakaoBank and K Bank, and which documents each asks for, use our Korean bank account guide for foreigners. If you also want to pay in shops with your phone, see KakaoPay for foreigners; KakaoPay does not require a KakaoBank account.
Frequently asked questions
Can foreigners open a KakaoBank account?
Yes, since October 12, 2026. You need to be 19 or older, a resident of Korea, and hold an ARC, Domestic Residence Report card, Permanent Residence card, Korean driver’s license or mobile ID.
Can I open a KakaoBank account with only my passport?
No. KakaoBank’s notice lists only Korean-issued IDs. A passport alone is not enough, so wait for your ARC first.
How much can I transfer per day?
New foreigner accounts are limited accounts: up to KRW 1 million per day by app transfer and KRW 500,000 per day at ATMs.
Does the KakaoBank debit card work abroad?
Not yet. The current Friends debit card works only in Korea. KakaoBank plans to launch an overseas-use version in December 2026.
Is the KakaoBank app in English?
Yes. If your phone’s language is not Korean, AI translation can show the whole app in English, Chinese or Vietnamese.
Can I receive my salary in a KakaoBank account?
The limits in KakaoBank’s notice apply to money you send or withdraw, not to money coming in. Many employers pay into any Korean bank, but some require a specific bank, so check with your employer first.
Is there a fee to receive money from abroad?
No. Receiving international transfers into a KakaoBank account is free until September 2027, according to KakaoBank.
Official references
- KakaoBank notice: foreigner service launch (October 12, 2026, Korean)
- KakaoBank official website · Customer center 1599-3333 (from abroad +82-2-6420-3333)
- Press coverage: The Korea Herald · The Korea Times (October 12, 2026)
Information notice: This guide gives general information based on KakaoBank’s official notice and press coverage checked October 16, 2026. Eligibility, limits, rates and fees can change; check the KakaoBank app before you apply. This site is not affiliated with KakaoBank and this is not financial advice.