KMK: Korean Banking Made Easy

Banking in South Korea. I can be both blissfully easy and a pain in the ass. Easy because ATMs are literally on every single corner. You can’t turn around without bumping into a bank with an all access atm. Though if its not your specific bank you will be charged a small fee, it still beats out searching for blocks for a place to withdraw some cash.

As it stands now I have accounts with three different banks: ShinHan, Hana, and KEB.

I started off with Hana Bank with my first job in Seoul. My second contract landed me at Shinhan and now I recently started dealing with KEB. Let me say that Hana and ShinHan never really did me wrong, it’s just that they didn’t go out of their way to make my life easier in Korea.

KEB does. In fact KEB has made it a mission to make the lives of Expats living in South Korea as easy as possible. Want to know how? Let me list the ways KEB has become my new bank buddy.

1) The KEB Expat Global Card
Don’t have it? Get it. Now. My statements arrive in English. My phone gets texted every time I use the card to prevent fraud. My card can be used worldwide.It also has a Korean Airlines mileage point system and a Reward point system.

2) 100% English based service at special branches.
That’s right, no more arcane hand gestures and playing charades to get your banking done. You can go into a special branch and take care of everything in English!

3) Multi Currency Account
Yup, keep your money in your currency of chocie. No more eyeing the fluctuating currency rates because your money is already exchanged.

4) Internet Banking
Do everything online from your own home! Wiring money home? No problem! Moving money between accounts? Easy as pie! In English!

5) Remittance Account
This is the reason I switched to KEB. With this account I can send money directly to my bank account at home through the atm. All I do is transfer money into this account, which is at zero, and it is automatically bounced to my American account. I don’t even have to step foot inside a KEB and the fee is 30% discounted! How awesome is that?

6) Spare Money Management
KEB will give you advice on time deposit accounts and mutual funds to give you a better interest rate than just an average savings account.

So, really, why aren’t you with KEB?