Banking access and ATM context · Pexels free-use photo
Last verified: September 21, 2026 · Current FSC limited-account thresholds reviewed.
The first surprise may come after your Korean bank account has already been approved.
Imagine that your rent is ₩1.2 million. You have enough money in the account. You enter the landlord’s bank details, press transfer, and discover that the app will allow only ₩1 million today.
The account is not broken. It may be a limited bank account.
Internet/mobile banking: ₩1 million · ATM: ₩1 million · Bank counter: ₩3 million.
Limited accounts are not a foreigner-only rule
Korea introduced the limited-account framework to reduce the misuse of deposit accounts in financial crime.
When a bank cannot sufficiently confirm the financial purpose of a new deposit account through objective supporting material, it may allow the account to open with lower transaction limits.
This affects Korean customers too.
Foreign residents can notice it more often during the first months in Korea because they may not yet have local salary history, utility bills, tax records or other domestic financial evidence.
The current standard limits are easy to misunderstand
| Channel | General daily limit for a limited account |
|---|---|
| Internet / mobile banking | ₩1,000,000 |
| ATM | ₩1,000,000 |
| Bank counter | ₩3,000,000 |
The Financial Services Commission raised these general limits in May 2024. Before that change, much lower figures still appeared across old blogs and forum posts.
Your actual account settings should still be checked with your bank. Security settings or bank-specific controls can create additional differences.
Time alone does not guarantee removal
You will find plenty of personal stories online:
“Mine was released after three months.”
“My salary arrived twice and the bank removed it.”
“I used my check card for a while and it disappeared automatically.”
Those stories may be genuine. They are not a universal banking rule.
The bank needs enough evidence to understand the actual purpose and expected use of the account.
Match the evidence to the purpose
If the account receives your salary, employment documents and salary records make sense.
If you are a student, enrollment documentation may be relevant.
If you operate a business, the bank may ask for business-related evidence.
If the account is mainly for rent and ordinary life, housing or recurring-payment documents may help depending on the bank.
| Account use | Evidence the bank may ask about |
|---|---|
| Salary | Employment certificate, contract, salary history |
| Student life | Enrollment or school documentation |
| Business | Business registration and transaction-related records |
| Regular living expenses | Lease, utility or recurring-payment evidence where accepted |
This table is an example of the logic, not a guaranteed national checklist.
New foreign residents may not have the evidence yet
A person who arrived last week has no Korean salary history.
A university student living in a dormitory may not have a utility bill in their own name.
An E-9 worker in employer-provided accommodation may not have a personal lease.
That does not mean the account can never be upgraded. Ask the bank what alternative proof it accepts for your actual situation.
Do not open another account just to escape the limit
A new bank can conduct the same financial-purpose checks.
If your salary, check card and automatic payments are already connected to the existing account, first ask that bank what it needs to review the restriction.
Change banks when there is a genuine service reason: foreign-language support, international remittance, branch access, fees or app usability.
If the payment is urgent, ask about the counter
A ₩1.2 million rent payment exceeds the general mobile limit of a restricted account but falls under the current general ₩3 million counter limit.
That makes a branch visit a possible short-term route.
It is not a good monthly routine. If you will repeatedly need transfers above the mobile ceiling, ask what is required to change the account status.
A 2025 practical explanation that also discusses limited accounts. Korea Actually did not perform the process shown. Use the video for lived-process context and the FSC source below for current limits.
Open on YouTube →
If the bank refuses removal, ask what is missing
“No” is less useful than the reason for the no.
Ask whether the issue is insufficient transaction history, the wrong document type, a missing employment record or another requirement.
That gives you something concrete to prepare before returning.
Check the transfer limit again after the restriction is removed
Removal of the limited-account status does not necessarily mean your mobile transfer ceiling is now exactly where you want it.
OTP registration, security settings and customer-selected limits can still matter.
Before sending a housing deposit or another unusually large amount, check the usable limit several days in advance.
한도제한계좌인지 확인해 주세요.
Please check whether this is a limited account.
한도제한을 해제하려면 어떤 서류가 필요한가요?
What documents do I need to remove the restriction?
Bank review criteria can differ. The FSC figures above are the general limited-account daily limits.
Two Korea Desserts
A lighter look at ordinary travel, shopping and life between the bank visits.
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