If you’re heading to Seoul, you’ll soon learn that getting cash from an ATM with a foreign card isn’t as simple as you might think. Many travelers wind up trying several machines, only to have their perfectly valid Visa or Mastercard turned away each time.
The secret is that Korea runs two separate ATM networks. Most ATMs cater only to Korean-issued cards, while a smaller group, known as Global ATMs, are set up to work with foreign cards. Spotting a Global machine is the key, and it will save you a lot of wasted time.
Why Most Korean ATMs Reject Foreign Cards
ATMs in Korea were built mainly for the local market, so around 70% of them in Seoul have no way to read foreign cards. These machines are great for Koreans, but they simply skip right over anything else. The ATMs that do accept international cards will say “Global ATM” or show the Visa, Mastercard, Cirrus, or Plus logos somewhere on the screen or on the machine itself.
Even the convenience store ATMs can be hit or miss. Your card might work perfectly at the GS25 on one block while the 7-Eleven a few steps away refuses it completely. That’s because each convenience store chain uses its own ATM operator, and their systems might not talk to each other.
Finding the Right ATMs in Seoul
Stick to the big bank branches and you’ll be fine. Woori Bank sits at the top for accepting foreign cards. Their Global ATMs hardly ever decline transactions and they come with English screens. KB Kookmin and Shinhan are nearly as dependable, and KEB Hana is also good for international cards.
To track these ATMs with Naver Maps or Kakao Maps, plug in “은행” (bank) instead of “ATM.” Almost every big branch has a Global ATM you can use, either inside or just outside the store. The apps have English support, but searching in Korean usually pulls up better results.
Convenience store ATMs can fill in when you’re in a pinch, but watch for higher fees and smaller limits. They’ll usually work 60-70% of the time with foreign cards.
Understanding the Fee Structure
Korean ATMs have a menu of fees that can add up fast:
- ATM fee: 3,000-5,000 won per transaction (around $2.50-$4.50)
- Foreign transaction fee from your bank: Usually 1-3% of what you take out
- Currency conversion fee: Another 1-3% charged by your home bank
- Network fee: A small extra charge from Visa or Mastercard
When you stack it, taking out 500,000 won could run you $15-20 in total fees. That’s why locals recommend grabbing bigger amounts less often.
Withdrawal Limits and Restrictions
Most travelers trip on the same hurdle: Korean ATMs treat foreign cards like delicate flowers. Here’s the deal:
- Single withdrawal: 300,000 to 700,000 won (about $270 to $640)
- Daily limit: Between 1 and 3 million won, depending on the bank
- Some machines: Stick at 1 million won, period
Your home bank might set the bar even lower for international use. Double-check those figures before packing. Hitting a deposit deadline and staring at a “limit reached” screen is the opposite of fun.
The Transfer Problem Nobody Mentions
Forget about fancy electronic transfers if you don’t have a Korean bank account. Foreign cards are strictly cash machines. The one loophole is the cash deposit transfer (무통장입금) where you load a machine with cash to zap it to someone else’s Korean account. Problem is, many of those machines are picky and want a Korean ID number before they’ll let you play.
Rent due or you need to slide money into a Korean account? Shake a leg to a bank branch and brace for business hours only.
Practical Tips from Seoul Streets
Airport ATMs are dependable but will rob you blind on fees. Grab a small amount to tide you over, then scout a Woori or KB bank branch once you hit the city. They play nicer with foreign cards and will actually let you withdraw what you need.
Myeongdong and Gangnam have the most Global ATMs in Korea. You’ll find the most foreign-card-friendly machines near tourist spots.
Still, it’s smart to carry extra won. More places take cards now, but street markets, little restaurants, and most taxis still want cash. Outside of Seoul, running out of cash can slow you down.
Lots of stay-a-while travelers set up Korean bank accounts just to skip the constant trip to the ATM. The whole setup is easier for locals, and it’s one of those quirks of Korea’s banking scene.