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South Korea · Banking & PaymentsKakaoBank
KakaoBank is a popular fully-digital bank in South Korea, offering accounts, cards, and loans entirely through its mobile app.
What it helps with
- A bank account without a branchOpened in the app.
- Free transfersTo any Korean bank.
- A debit cardCheck card.
About KakaoBank
Built as one of Korea's first branchless internet-only banks, KakaoBank leverages the KakaoTalk brand and ecosystem to offer a fast, mobile-first banking experience without physical branch visits for most everyday tasks.
Key Features
- Digital Account Opening: Open and manage a bank account largely through the app once verified.
- Instant Transfers: Send money to other Korean bank accounts using just a phone number.
- Debit & Credit Cards: Order and manage physical and virtual cards from the app.
- Savings Products: Access flexible, app-based savings accounts and financial products.
How to Get Started
- Download the KakaoBank app from Google Play or the App Store.
- Register and verify your identity with a Korean resident registration number and phone number.
- Open an account and order a card, virtual or physical.
- Set up transfers and explore savings products from the main menu.
Before you use it
- Sign-up: Opening a KakaoBank account as a foreigner needs an ARC and a phone number in your own name.
- Limits: New accounts often have low transfer limits until you prove income or employment.
Local number needed
Local ID needed
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Frequently Asked Questions
- Does KakaoBank work with a foreign bank card in South Korea?
- Not reliably - a foreign card may be declined. Check the notice above, or plan to use a local payment method.
- Is KakaoBank available in English?
- Not officially - the interface is mainly in the local language.
- Do I need a local phone number to use KakaoBank?
- Yes, KakaoBank requires a local phone number to register.
- Do I need local ID or residency for KakaoBank?
- Yes, KakaoBank requires local ID or residency status.
- Where can I use KakaoBank?
- iOS · Android
- How much does KakaoBank cost?
- No account fees; free transfers
