Cheapest ATM to withdraw won in Korea
"Just use an ATM" sounds simple until you've been hit with a ₩3,500 fee plus a 3% FX margin and your own bank charging another $5 on top. The truth is, the cheapest way to get won depends almost entirely on your home bank card. Charles Schwab US clients can withdraw for free at any Plus/ Cirrus ATM — but will eat the ₩3,500 local fee. UK/EU travelers with a fee-free card face the same. WOWPASS and Travelex pre-loaded cards have their own ATM-free networks. This tool lays out the effective cost per withdrawal so you can pick the right strategy for your card.
Per-withdrawal cost calculator
What this solves
Generic "best ATM" lists are written for Americans at Charles Schwab and assume fee-free bank reimbursement. For everyone else — UK/EU cardholders, Australian debit, Canadian — the math is different. Plus, the 365mc ATMs (only ₩1,000 fee, mostly won-only) versus bank ATMs (₩2,500–₩3,500 fee but multi-currency) versus Global ATM at CU/GS25 (₩1,500 fee, ₩100,000 minimum) versus WOWPASS card deposits (cash only). This tool shows the real effective cost, not the brochure fee.
365mc ATMs
₩1,000 flat fee, won-only withdrawal. Found in tourist districts (Myeongdong, Hongdae, Itaewon, Gyeongbokgung). Cannot dispense multi-currency. Many will not accept US debit cards unless they have the Cirrus/Plus logo. The cheapest fee in the country if your card works.
Convenience store Global ATM
Inside CU, GS25, 7-Eleven. The "Global ATM" machine (cash icon, Korean + English menu) charges ₩1,500 fee and has a ₩100,000 minimum per withdrawal, max ₩500,000. Best for: large one-off withdrawals. Avoid if you only need ₩30,000 — that's a 5% fee.
Bank ATMs
우리은행 (Woori) ₩3,500, 신한은행 (Shinhan) ₩3,000, 하나은행 (Hana) ₩2,500. All accept foreign cards with Cirrus/Mastercard/Visa. KB국민은행 also ₩3,500. Outside tourist zones, these are the only option.
Card swallowed?
Most ATMs do not retain foreign cards after error (a 2009 got better). If your card is taken, call the bank's English line on the machine. There is no unified Korean lost-card hotline. Keep your bank's international collect-call number written down.
How to read the result
- The cost shown is effective total: local ATM fee + your bank's foreign-transaction fee + FX margin.
- FX margin assumes Visa/Mastercard wholesale + 0.5%–1.5% typical markup.
- If your home bank reimburses fees (Schwab, Revolut Premium, Wise Multi-Currency), this is reflected.
- Per-₩100,000 cost is what you'd actually pay over a ₩100,000 withdrawal.
Limitations
- FX margins vary daily and by card product; we use typical 0.5%–1.5% ranges.
- 365mc may not accept your specific card even if it has Cirrus/Plus.
- Some Korean ATMs enforce a per-transaction cap of $200–$300 for foreigners.
- WOWPASS fees change with deposit type (cash vs balance from home); we show cash deposits only.
- Bank ATM fees are sometimes waived for certain account types — check your home bank's policy.
FAQ
Is WOWPASS actually cheaper?
Only if you'll spend it on T-money and convenience stores. WOWPASS has a ₩100,000 stored-value cap and ₩2,500 ATM fee equivalent. Compared to a fee-free bank card, WOWPASS is more expensive.
Should I use EUR/USD debit or convert at home first?
Withdraw from a multi-currency ATM in KRW. Almost always beats paying in EUR/USD and getting a dynamic currency conversion hit of 3–5%.
Can I use Apple Pay at Korean ATMs?
Not widely. Most Korean ATMs require physical card swipe. Some 365mc accept contactless but inconsistently.
What if I have only $200 cash?
Use a WOWPATH kiosk at the airport to swap USD cash to KRW; mark-up ~3% but no card needed. Avoid airport exchange counters for more than $100.