Toss Bank to allow foreigners to open online bank accounts

Toss Bank is now the first South Korean internet-only bank to allow foreign residents here to open an online bank account, the lender said Monday. 

“Starting Monday, all foreigners here are able to open an account as long as they have their registration card,” Toss Bank said in a statement. Foreigners are offered the same service as locals, according to the bank, which was set up last year, four years after rivals Kbank and KakaoBank were launched in 2017.

Read more: The Korea Herald