Korean Banking & Money Vocabulary: Words You Actually Need

Living in Korea means dealing with money in Korean. Whether you're opening a bank account, sending a transfer, or just trying to figure out an ATM screen, knowing the right words makes everything less stressful. This guide covers the vocabulary you'll encounter at banks, ATMs, and in everyday financial conversations.

Basic Money Words

Quick Tip

Korea is heavily cashless. Most people pay with 카드 (card) or phone payments like 삼성페이 (Samsung Pay) and 카카오페이 (Kakao Pay). But knowing cash vocabulary still matters — some street food vendors and traditional markets are cash-only.

Banking Essentials

Opening a Bank Account

When you visit a Korean bank for the first time, here are the phrases you'll need:

• 계좌를 개설하고 싶어요 (gyejwareul gaeseorhago sipeoyo) — "I'd like to open an account"
• 신분증 있으세요? (sinbunjeung isseuseyo?) — "Do you have ID?" (they'll ask you this)
• 외국인등록증 (oegugin deungrokjeung) — Alien Registration Card (ARC) — required for account opening
• 체크카드도 만들어 주세요 (chekeukadeudo mandeureo juseyo) — "Please make me a debit card too"

Most major banks (국민은행, 신한은행, 하나은행, 우리은행) have some English support, but smaller branches may not. Having these phrases ready helps.

ATM Vocabulary

Korean ATMs (ATM기 or 현금인출기) display these terms on screen:

ATM Tips for Foreigners

• Look for 글로벌 ATM (global ATM) or machines with an English button — these accept foreign cards
• Convenience store ATMs (CU, GS25) often work with international cards
• Some ATMs charge 수수료 (fees) for foreign cards — typically ₩1,000-3,000

Sending and Receiving Money

In Korea, bank transfers are the default way to pay for almost everything — splitting dinner, paying rent, buying from online sellers. You'll hear:

• 계좌 알려주세요 (gyejwa allyeojuseyo) — "Tell me your account number"
• 입금했어요 (ipgeumhaesseoyo) — "I've transferred the money"
• 확인해 주세요 (hwaginhae juseyo) — "Please check/confirm"

Payment Phrases for Shopping

The 할부 Question

When paying by card for larger purchases, the cashier will ask: 일시불이요? 할부요? (ilsiburiyо? halbuyo?) — "One payment or installments?" For everyday purchases, just say 일시불이요 (one-time payment).

Salary and Income

Useful Sentences

Here are complete sentences you'll use regularly:

1. 잔액이 얼마예요? (janаegi eolmayeyo?) — "What's my balance?"
2. 이체 수수료가 있어요? (iche susuryoga isseoyo?) — "Is there a transfer fee?"
3. 통장 정리해 주세요 (tongjang jeongrihae juseyo) — "Please update my bankbook"
4. 비밀번호를 잊어버렸어요 (bimilbeonhoreul ijeobeoryeosseoyo) — "I forgot my PIN"
5. 해외에서 쓸 수 있어요? (haeoeseo sseul su isseoyo?) — "Can I use this abroad?"
6. 카드를 분실했어요 (kadeureul bunsilhaesseoyo) — "I lost my card"

Practice with Chamelingo

Banking vocabulary might seem dry, but it's some of the most practical Korean you'll learn. Chamelingo includes real-life scenario drills where you practice conversations at banks, shops, and ATMs — so when you're standing in front of a Korean ATM for the first time, the words come naturally instead of causing panic.

Start practicing Korean banking vocabulary →