Korean ATMs: withdrawing money in South Korea without fees

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

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

Share this tip:

Written by Clem
Hi, I'm Clem, co-founder of Triptipedia. Contact me at clem@triptipedia.com

Comments:

Tzipporah
Mar 22, 2019 at 17:58

Great thanks! No extra fees for me with a KB Kookmin Bank ATM in Seoul.


daavid
Apr 16, 2019 at 17:35

Can I use my ICICI bank (india) debit card to withdraw money from KB kookmin bank ATM in seoul with 0% charges?


Tom

Tom
May 20, 2019 at 04:54

Couldn't find one in Busan. I tried all those supposedly without fees on the list, but they all asked for a fee (usually 3500). I ended up paying...


Akbar

Akbar
Oct 11, 2019 at 17:13

Excuse me, is there any limit withdrawal if we want to take money in korea atm with mastercard? How much the limit in 1 month?


Ute

Ute
Oct 26, 2019 at 01:05

Tried Shinan and Kookmin - both wanted to charge me 3500 on a 20000 withdrawal. That's really excessive!


Natasha

Natasha
Nov 21, 2019 at 04:18

KB Kookmin currently have withdrawal fees of 3500, same as Busan bank. Only NH Nonghyup is free of withdrawal fees


Thoughts? Questions?

See also

Tours and activities

by Sajjan

Everest Base Camp Trek-16 Days

Everest Base Camp Trekking leads to beautiful scenery enclosed by world giant peaks. Adventure on the foot of Mt. Everest with close views of massive Khumbu Ice-falls. Scenic walk in Everest Base Camp trek leads you to explore fascinating Sherpa farm villages and world heritage sites.

Vegan Tapas Tour

Discover Vegan Madrid with a vegan foodie guide!