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Lesson 8

Bank & Currency Exchange

Handle everyday banking tasks and currency exchange in Korean.

Korean banking has digitalised aggressively — most domestic banking happens in mobile apps with biometric authentication. However, currency exchange and account opening still require in-person visits, and ATM operation in Korean is essential. Key vocabulary: 환전 (currency exchange), 통장 (account passbook), 카드 (card), 출금 (withdrawal), 입금 (deposit), 송금 (transfer).

For currency exchange at a bank: 환전하고 싶어요. 달러를 원으로 바꿔 주세요 (I'd like to exchange currency. Please change dollars to won.). For ATMs, the menus support English on most machines but Korean is faster if you know the terms. Note that Korean ATMs typically have separate menus for cards (카드 거래) and passbooks (통장 거래), and many bank-specific ATMs only work for that bank's customers — look for 공용 ATM (shared ATM) at convenience stores for universal access. Most ATMs in Korea operate 24/7 and are heavily integrated into convenience stores.

-고 싶어요 vs. -아/어 주세요 — Wanting vs. Requesting

-고 싶어요 expresses what you want to do (first person only). -아/어 주세요 asks someone else to do something. In banking, you'll use both: '환전하고 싶어요' (I want to exchange) vs. '확인해 주세요' (please check).

계좌를 개설하고 싶어요.gyejwareul gaeseorhago sipeoyoI'd like to open an account.
잔액을 확인해 주세요.janaegel hwaginhae juseyoPlease check my balance.

N으로/로 바꿔 주세요 — Exchange into ~

To ask for currency exchange, use 'currency + (으)로 바꿔 주세요'. The particle (으)로 marks the target. After a consonant: 으로, after a vowel or ㄹ: 로.

엔화를 원으로 바꿔 주세요.enwahreul woneuro bakkwo juseyoPlease exchange yen into won.
큰 돈을 작은 돈으로 바꿔 주세요.keun doneul jageun doneuro bakkwo juseyoPlease break this large bill into smaller ones.
환전hwanjeoncurrency exchange
Examples달러를 원으로 환전하고 싶어요.dalleoreul woneuro hwanjeonhago sipeoyoI'd like to exchange dollars to won.
출금chulgeumwithdrawal
ExamplesATM에서 오만 원 출금했어요.eiteieme-seo oman won chulgeumhaesseoyoI withdrew 50,000 won from the ATM.
이체ichetransfer (bank)
Examples친구 계좌로 이체했어요.chingu gyejwaro ichehaesseoyoI transferred money to my friend's account.
잔액janaekbalance
Examples잔액이 얼마예요?janaegi eolmayeyoWhat is the balance?
환율hwanyulexchange rate
Examples오늘 환율이 어떻게 돼요?oneul hwanyuri eotteoke dwaeyoWhat is today's exchange rate?
수수료susuryofee / commission
Examples수수료가 얼마예요?susuryoga eolmayeyoHow much is the fee?

Cultural & Language Note

Korean banking is heavily digital, and most routine transactions happen through apps rather than at counters. Foreign residents opening an account will still need in-person visits and an alien registration card. Currency exchange rates at licensed downtown booths in areas like Myeongdong are typically better than at airports or banks.

Common Mistakes to Avoid

으로/로 바꿔 주세요 is the exchange pattern, and the particle alternates: 원으로 after a consonant, 엔으로 likewise, but 유로로 after a vowel. Learners also confuse 고 싶어요 with 아/어 주세요 — the first states what you want, the second asks the other person to act. Telling a teller 환전하고 싶어요 is fine, but a direct request needs 주세요.