Cash or Card in Korea? What Visitors Need to Know
Use a card first, but carry some cash. Most Korean businesses accept credit cards, including hotels, department stores and shops, so a Visa or Mastercard covers most spending. Keep roughly 100,000 won for markets and street food, and buy a T-money card (3,000 to 5,000 won) for transport. Look for Global ATMs when you need more.
- Best payment
- Visa or Mastercard, plus a little cash
- Transit card
- T-money, 3,000 to 5,000 won
- Cash for ATMs
- Global ATMs, typically until 23:00
- Official site
- VisitKorea
What should I know before I arrive?
Information checked October 3, 2026
Korea is a card-first country for visitors, but cash and a transit card still smooth the trip. The Korea Tourism Organization says most businesses widely accept credit cards, including major hotels, department stores and general shops, though availability varies by location.
- Worth knowing: The currency is the won. Bills come in 1,000, 5,000, 10,000 and 50,000 won, and coins in 10, 50, 100 and 500 won (VisitKorea).
- A common mistake: Assuming every card brand works. Visa and Mastercard are the safest; American Express is accepted less often, so bring a second card.
- Local tip: Always choose won if a terminal or ATM offers to charge you in your home currency.
Do shops in Korea accept foreign cards?
Yes, in most hotels, department stores, chain restaurants, convenience stores and shops, a foreign Visa or Mastercard works. VisitKorea lists Visa, Mastercard and American Express as accepted, with availability varying by location, so treat Visa and Mastercard as the dependable pair.
- Contactless and chip: Tap-to-pay and chip cards are common in cities, but older terminals can still ask for a PIN or signature.
- Currency choice: If asked to pay in your home currency, decline and pay in won. The terminal sets that rate, and it is usually worse than your card network's rate.
- Card fees: Foreign transaction fees come from your own bank, not from Korea, so check your card terms before you fly.
Practical example: a visitor paying for a hotel, a department-store purchase and a restaurant dinner on a Visa card should have no trouble, but the same visitor buying snacks from a market stall may be asked for cash.
When do I still need cash in Korea?
Carry cash for traditional markets, street-food stalls, small shops and anywhere a card terminal is missing. Cards cover the large majority of tourist spending, but small vendors are where a card is most likely to be refused.
- Markets and street food: Many stalls prefer cash, so a few 10,000 and 1,000 won notes help.
- Small tips and donations: Temples and small attractions may expect a coin or small bill rather than a card.
- Coin lockers and machines: Some older lockers and vending machines take only coins or a T-money card.
How much to carry is a personal call. Travel guides often suggest something like 100,000 to 200,000 won as a starting buffer; this is a rule of thumb rather than an official figure, so adjust it to how much you plan to spend at markets.
How do I get Korean won?
Withdraw from a Global ATM, or exchange at a bank or a government-certified booth. Seoul's tourism site says banks usually offer the best exchange rates, while certified booths help outside banking hours.
| Method | Hours and access | Good to know |
|---|---|---|
| Global ATM | Typically until 23:00, many open 24 hours (Visit Seoul) | Look for Global ATM signage; your home bank and the machine owner may charge fees |
| Bank branch | Usually 09:00 to 16:00 on weekdays (Visit Seoul) | Best rates, but closed evenings and weekends |
| Airport exchange counters | Standard 06:00 to 22:00, some 24 hours at Incheon (VisitKorea) | Convenient on arrival; KB Kookmin, Hana and Woori have counters |
| Certified exchange booth | Open outside bank hours in tourist areas such as Myeong-dong and Insa-dong | Use booths displaying certified signage |
Unofficial guides report that convenience-store ATMs charge about 3,000 to 4,000 won per withdrawal with lower limits than bank ATMs, but these figures vary by operator and card, so check the on-screen fee before you confirm.
How do I withdraw cash from a Korean ATM?
Find a Global ATM, choose English, insert your card, enter your PIN, and select won when asked.
- Prepare your card. Before leaving home, make sure international ATM withdrawals are enabled in your bank's app and that your PIN will work abroad.
- Find a Global ATM. Look for Global ATM or Global Service signage at bank branches, convenience stores and airports. Visit Seoul notes these machines offer English, Chinese and Japanese menus.
- Insert the card and pick English. Enter your PIN. Unofficial guides note that some Korean machines expect a four-digit PIN, so ask your bank about longer PINs.
- Read the fee screen. Confirm the fee, then withdraw one larger amount rather than several small ones, if you can.
- Choose won. If offered a conversion into your home currency, decline it.
What is T-money and do I need it?
T-money is a rechargeable card for subways, buses and some shops, and most visitors should buy one. VisitKorea says it costs 3,000 to 5,000 won and is sold at convenience stores such as GS25, CU and 7-Eleven, and at subway information centres.
- Top up: Subway ticket machines can reload it, up to 500,000 won.
- Where it works: Public transport, expressway tolls, public phones and stores that show the T-money logo (VisitKorea).
- Refunds: VisitKorea says balances over 50,000 won can only be refunded at Tmoney Town at Seoul Station; smaller refunds are available at convenience stores.
Practical example: load a modest balance at a convenience store on arrival, use it for the subway and bus, and refund any leftover on your last day.
Do I need to tip or worry about tax refunds?
No tipping is expected, and tax refunds are available only at participating Tax Free stores. Visit Seoul states that tipping is not a Korean custom, though some upscale establishments add a 10% service fee. It also says purchases over 30,000 won at Tax Free stores can earn a 10% VAT refund; thresholds and rules can change, so check the Korea Customs Service before you shop.
FAQ
Can I use my foreign credit card everywhere in Korea?
Not everywhere. Visa and Mastercard are widely accepted, but American Express and some other brands are accepted less often, and small stalls may take cash only. Carry a backup card and a little cash.
Where can I withdraw cash with a foreign card in Korea?
Use ATMs marked Global ATM or Global Service at bank branches, convenience stores and airports. Seoul's tourism site says international ATMs typically operate until 23:00 and many are open 24 hours, with English menus.
Should I choose won or my home currency when paying by card?
Choose Korean won. Paying in your home currency (dynamic currency conversion) lets the terminal set the exchange rate, which is usually less favourable than your card network's rate.
Do I need to tip in Korea?
No. Seoul's tourism site states tipping is not a Korean custom and is not expected, although some upscale establishments add an automatic 10% service fee.
Can I get my T-money balance back?
Yes, with limits. Small balances can be refunded at convenience stores, and balances over 50,000 won only at Tmoney Town at Seoul Station, according to the Korea Tourism Organization.
Official sources and useful links
Links open in a new tab. Details above are approximate; verify on these pages.
- VisitKorea: Korean Currency and Exchange bills, coins, card use and bank hours
- VisitKorea: Foreign Exchange Banks in Airports Incheon and Gimpo exchange counters and hours
- VisitKorea: Transportation Cards T-money price, top-up limit and refunds
- Visit Seoul: Money exchange, Global ATMs, tipping and tax refund basics
- Korea Customs Service official customs and tax refund information
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