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

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

Comments:
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


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!


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?


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...


Sovanna

Sovanna
Oct 6, 2019 at 13:28

Same.. every posts I've found on Internet list some ATM's banks where they don't charge you fee (usually 3500) but every ATMs I've tried do charge fee.. ended up paying all the time like you


Suzanne

Suzanne
Jun 18, 2019 at 12:48

Does anyone know if there is a non fee charging ATM in Hongdae, as I’m going there next week.


Paulina

Paulina
Jul 4, 2019 at 15:21

I believe that there is a kookmin bank in hong-ro street, when I go I'm gonna try in there


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?


Clem
Apr 16, 2019 at 17:38

I believe it's a Visa so it should work!


daavid
Apr 17, 2019 at 07:43

Thanks for your answer. Yes my card is a Visa but I heard from people that there will always be some withdraw charges in any bank ATM. Any comment on this.


Clem
Apr 17, 2019 at 13:03

Charges from your bank are possible, its depends on the pricing of your bank account / credit card. But if you choose the proper ATM, you won't pay anything to the Korean bank it belongs to.


Tzipporah
Mar 22, 2019 at 17:58

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


grace lozano

grace lozano
Oct 20, 2019 at 04:31

Hello..can i ask which branch was it??location?


Allan Wo

Allan Wo
May 16, 2019 at 01:34

Just walked around Seoul looking for a bank that would not charge me between ₩3500 and ₩5000. Could not find one. I ended up exchanging USD at a bank branch which cost about ₩900. Good luck to the rest.


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