SORA RENTAL NOTE · 41
How do I send my returned rental deposit to my bank abroad?
Prepare the bank records, beneficiary details and account access you may need to remit a refunded Korean rental deposit after moving out.
Content checked · 3 October 2026
The key points
- Explain that the money is a returned rental deposit and show its actual source.
- Ask the remitting bank about documents, designation and available channels before departure.
- Check fees and confirm the amount actually received abroad.
01 — 04
Start with the comic
Documents and screens are simplified illustrations. Check the sources below for actual forms and steps.
The landlord has refunded my deposit into my Korean account.
Let’s arrange the lease, original payment and refund records.
The bank is checking the source and my overseas account details.
Keep the transfer reference and confirm the money arrives.
Describe a deposit refund accurately
- Refund conditions
- Source-of-funds records
- Contract terms
Tell the bank that you want to remit a refunded housing deposit, where the original funds came from and their destination. Foreign-exchange procedures can involve a designated bank and supporting records. Do not automatically apply rules for Korean employment income to a deposit originally funded from overseas.
Prepare the lease, original inbound transfer or cash-import record, payment to the landlord and refund. These explain the chain of funds; they are not a universal mandatory document list. Ask the branch what your own status and transaction require.
Ask before your final week in Korea
- Check with the bank
- Departure date
- Authentication / access
Contact the bank before departure, even if the refund is due on moving day. Ask whether you must visit a branch, whether an existing foreign-exchange bank designation applies, and whether you can remit online. An app balance alone does not establish that this international transfer is ready.
Ask how identity checks, contact information and authentication work after departure. Update details through the official process. Avoid cancelling your Korean phone or closing the account before confirming how the final transfer and questions will be handled. Never give a friend your password, security codes or authentication device.
Confirm the receiving account and final amount
- Receiving account
- Exchange rate and fees
- Confirm credited funds
Obtain the beneficiary name, account, bank code and required address from the receiving bank’s instructions. Confirm the currency, exchange rate, fee allocation and expected processing time with the remitting bank. Save the information used, rather than relying on an old chat message.
Intermediary or receiving-bank charges can reduce the credited amount, even where some charges were paid by the sender. Keep the transfer reference and check the actual credit abroad. If it is delayed or short, use those records to ask the bank to trace or explain it; do not immediately submit a duplicate transfer.
What to check
- Explain the original source and the deposit refund to the bank.
- Collect the lease and the complete payment/refund trail.
- Confirm documents, transfer channel and overseas authentication before leaving.
- Save the transfer reference and verify the overseas credit.
Common questions
Is there one annual no-document limit for all foreign tenants?
Do not assume so. Rules depend on the transaction and your status, and bank channels can have their own limits. A figure described for employment income is not automatically the rule for your refunded deposit.
Can I close my Korean account as soon as the landlord pays?
First agree the remaining steps with the bank. Closing it before the remittance or before a problem is resolved may make the process harder. Ask how any residual balance and fees will be settled.
Official sources
Korean laws and guidance from public agencies, universities and service providers. Most originals are in Korean or English. School and product examples apply only within their stated scope.