Limited-Transaction Account Safety Checklist
A guide explaining why a transaction limit may be placed on your account after opening it, how to check whether it has been lifted, and why you need to confirm with the bank before paying a deposit or making a high-value transfer.
Direct answer
A guide explaining why a transaction limit may be placed on your account after opening it, how to check whether it has been lifted, and why you need to confirm with the bank before paying a deposit or making a high-value transfer.
- How far this is checked
- Partly verified — confirm the details with the official sources below before you act.
Task
Bank account
Visa
All visas
Program
General
Region
Nationwide
Direct AI answers: disabled. Whether a transaction limit applies, the limit amount, and the requirements for lifting it can vary depending on the bank and the account status.
Key Summary
If a bank judges that the account-opening purpose and customer verification documents are not sufficient, it may open the account as a limited-transaction account or restrict some transactions. The scope of the restriction varies by bank, channel, account type, and the result of customer verification, so you should not assume amounts based on the app.
Receiving an Alien Registration Card (외국인등록증) does not automatically lift the restriction either. Check with the bank where you opened the account about what documents are needed, and you must go through the bank's review.
Check First
| Item to check | Why it matters |
|---|---|
| The type of restriction on your current account | The restricted items may differ, such as ATM, teller window, app transfer, automatic transfer, and card payment. |
| Daily / per-transaction / monthly limit | Limits can vary by bank and channel, so you must check directly in the bank app or at a branch. |
| Documents required to lift the restriction | You may need documents proving the purpose of transactions, such as salary receipt, enrollment, lease, business, or living expenses. |
| Updating alien registration information | If your identity verification information changes, you need to check whether the bank requires an update. |
| Schedule for deposit / high-value transfer | For large amounts such as a lease deposit or tuition, you must confirm the transfer method with the bank before signing the contract. |
Procedure for Lifting the Restriction
- Check the current restriction status of your account through the bank app, call center, or branch.
- Ask the bank what transaction-purpose documents are needed.
- Prepare your original ID and purpose-proving documents.
- Request the bank to update your identity information and review the limit removal.
- After the restriction is lifted, re-check the actual transferable limit and fees.
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