Shinhan Bank, Non-face-to-face Issuance of Deposit and Withdrawal Accounts and Check Cards for Foreigners Residing in Korea

Shinhan Bank announced on the 12th that it has launched a mobile banking service that allows foreigners residing in Korea to open new deposit and withdrawal accounts and check cards.

This service is intended for foreigners aged 17 or older who possess a domestic-issued ID (Alien Registration Card, Domestic Residence Report Card, or Permanent Resident Card) and can pass the account verification process. However, foreigners who require a taxpayer identification number or are from high-risk countries designated by the Financial Action Task Force (FATF) are excluded from the service.

The service is based on the "Foreign ID Verification System" introduced in January in the 'Shinhan SOL Bank' app to enhance the reliability and convenience of non-face-to-face financial transactions for foreigners. This system compares foreign IDs issued in Korea with Ministry of Justice information in real time and verifies customer information through the Ministry of the Interior and Safety's "Public MyData Service."

A Shinhan Bank official stated, "We hope that foreigners can use domestic financial services more easily and comfortably to help with their daily lives," adding, "We will continue to expand various customized services for foreigners in addition to existing specialized products such as the 'Shinhan The Dream Jeonse Loan.'"

This content was produced with the assistance of AI translation services.