For Foreigners

Foreign Worker (Client) Support Service

Savings + Debit card + Overseas remittance + Online • Smartphone banking + Multi-language call center + Business branches open on non-work days

Required Documents

Documents required upon the first transaction with Industrial Bank of Korea: Passport + Certificate of alien registration

Product Information

Savings Products
  • I Love Korea Account
    • (Characteristics) An account that is also a handbook made in four languages providing useful information for foreign clients (English, Chinese, Indonesian, Vietnamese)
    • (Main contents)
I Love Korea Account
Type Outline Strengths
Deposit/
Withdrawal
Type
  • Currency available for deposit: Korean currency (KRW)
  • An account where deposits and withdrawals can be freely made
  • Exemption of automated transfer fee (IBK → IBK / IBK → other banks)
  • Exemption of transfer fee to other banks through electronic banking (Online banking ․ Mobile banking ․ Telebanking)
  • 50% reduction of overseas remittance fee and 50% prime exchange rate for foreign currency
Savings
Type
  • Currency available for deposit: Korean currency (KRW)
  • An account saving periodically after setting a contract period
  • Offer of principal + interest upon maturity
  • Offer of high interest rates after expiration of contact period
  • Offer of prime rate upon using wage transfer and card
Lump Sum
Type
  • Currency available for deposit: Korean currency (KRW)
  • An account depositing a large sum of money for a certain period
  • Supply of principal + interest upon maturity
  • Offer of high interest rates after expiration of deposit period
  • Offer of prime rate upon using wage transfer and card
  • Korean and Foreign Currency, My Way Account
    • (Characteristics) Currency conversion (Korean currency ⇔ foreign currency, foreign currency ⇔ foreign currency) available without withdrawal within the account balance
    • (Main contents)
Korean and Foreign Currency, My Way Account
Type Outline Strengths
Deposit/
Withdrawal
Type
  • Currency available for deposit: Korean currency and foreign currency
  • Withdrawal of Korean currency and available foreign currency
  • Reduction of 30% remittance charge and 30% prime exchange rate
Overseas Remittance
Overseas Remittance
Type Characteristics Main Contents
IBK ANYTIME Foreign Currency Remittance Service
  • Automatic overseas remittance service
  • 30% reduction of remittance fee, 30% prime exchange rate
  • Types of automatic remittance
    1. ① Automatic remittance of transfer amount on transfer date
    2. ② Automatic remittance within the balance on the transfer date
    3. ③ Automatic remittance when reaching the transfer amount (once a day)
      • The transfer amount may be designated in foreign currency or Korean currency
Quick Remittance (Western Union)
  • Quick receipt of overseas remittance can be received
  • Remittance and receipt implemented utilizing the global Western Union business network
  • Receipt available within several minutes after remittance
Cross-currency remittance
  • Remittance and receipt available by cross-currency other than US dollars
  • Cross-currency available for remittance (IDR, BDT, PHP, PKR, LKR, CNY, AED, TWD, VND, INR, RUB)
    1. ① Business branch: 30% prime exchange rate
    2. ② Online: Total exemption of remittance fee and 30% prime exchange rate
Rupee Remittance Service (AMPUH Remittance)
  • Quick remittance and reduced commission
  • Rupee remittance available
  • Exemption of brokerage fee and reduction of commission to local bank
  • Automatic 30% prime exchange rate
ATM Foreign Currency Remittance Service
  • Remittance available at ATM machines of IBK
  • Provides Korean, English, Chinese, and Indonesian at ATM machines
  • 30% remittance fee reduction, 30% prime exchange rate
IBK Mobile Foreign Currency Remittance Service
  • Overseas remittance available through smartphones
  • 30% remittance fee reduction, 30% prime exchange rate
  • Designating a foreign currency bank under transaction (designation of one overseas remittance bank within Korea) is mandatory upon the first remittance
Cards
Cards
Type Characteristics Main Contents
SmartGreen Debit Card
  • Card is available for use within the account balance
  • Prime exchange rate of 50% upon overseas remittance and exchange
  • Basic service
    1. ① Top point savings of 0.1 ~ 0.5% of the use amount per transaction
    2. ② On-site discount of KRW1,500 at CGV Cinemas
    3. ③ On-site discount of 50% of day pass for the card user at Everland and Lotte World
    4. ④ On-site discount of 20% at Bulgogi Brothers
      • Please refer to the product information note for detailed service
Online and Smartphone Banking
Online and Smartphone Banking
Classification Outline Supported Languages
Online banking
  • Bank transactions through the interne
  • English, Chinese, Vietnamese, Indonesian
Smartphone Banking (IBK One Banking)
  • Account checking, domestic and overseas remittance, confirmation of credit and debit card statements and other functions available through smartphones and more
  • English, Chinese, Vietnamese, Indonesian
Notification of Transaction Statements (IBK One Notification)
  • Real-time notification of account deposits and withdrawal details
  • English, Chinese (expected to be supported during ’14)
Consultation-Only Call Center for Foreigners (1566-2566)
  • Foreign language available for consultation: English, Chinese, Japanese and Vietnamese
  • Hours of Operation: 9:00~18:00 on business days
  • Methods of Use: Enter the service code after calling the designated number of the Bank (1566-2566, 1588-2588)
Consultation-Only Call Center for Foreigners
Language English Chinese Japanese Vietnamese
Service Code 571 572 573 574
Business Branches Open on non-work Days and Extended Business Hours for Foreign Workers
Business Branches Open on non-work Days and Extended Business Hours for Foreign Workers
Type Business Branch
Remittance (exchange) center Itaewon Remittance Center: 9:00~18:00 on weekdays, 10:00 ~ 17:00 on weekends
Ansan Remittance Center: 10:00 ~ 19:00 on weekdays, 9:00 ~ 16:00 on weekends
Seoul Station Exchange Center: 7:00 ~ 22:00