Many foreigners worry about how to pay the holding deposit, security deposit, and monthly rent before opening a Korean bank account.

The good news is that you do not need a Korean bank account to rent a property in Korea.

? International Bank Transfer

Most overseas tenants pay by international bank transfer.

You can send money directly from your bank to the landlord's Korean bank account. Many tenants also use international money transfer services such as Wise, Remitly, OFX, or other trusted providers, depending on their country.

These services are often faster, more convenient, and may offer better exchange rates and lower transfer fees than traditional international bank transfers.

? Processing Time

Unlike domestic bank transfers in Korea, traditional international bank transfers are not instant.

Depending on your bank, country, and transfer service, the money may take 1–5 business days to arrive. In some cases, it can take even longer.

Money transfer services such as Wise, Remitly, or similar providers can often deliver funds much faster, with many transfers completed within minutes or on the same day, depending on the currencies, payment method, and receiving bank.

For this reason, we recommend arranging your payment a few days before the due date to avoid any unexpected delays.

Tip: If you need to make an urgent payment, a trusted money transfer service may be a faster option than a traditional international bank transfer.