Korean ATMs: withdrawing money in South Korea without fees

By Clem | Apr 4, 2018
Budget Asia Banking ATM South Korea

If you own a foreign credit card, such as a Visa or a Mastercard, most ATMs in South Korea will have withdrawal fees (usually from around ₩3,000 to around ₩5,000) for international transactions. This can quickly add up if you like to withdraw regularly small amounts of cash. Here is a list of the main ATMs that you can run into:

Bank Withdrawal fees
KB Kookmin Bank (KB국민은행) No
Busan Bank No
Shinhan Bank (신한은행) Some of their ATMs have fees, some do not
Citibank Korea Some of their ATMs have fees, some do not
Woori Bank (우리은행) Yes
KEB Hana Bank (Korea Exchange Bank) Yes
NH Bank (Nonghyup Bank / 농협은행) Yes
Industrial Bank Of Korea (IBK / 기업은행) Yes

If an ATM has fees, it is legally obligated to prompt you. You'll see a screen such as "this operation has a fee of ₩4500, do you wish to continue?". If this happens, just press "no" to cancel the transaction and go find another ATM.

The ATMs you can find in convenience stores will almost all have fees.

South Korea Central Bank, Seoul

South Korea Central Bank, Seoul

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Written by Clem
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