Banking Without a Bank Account    

Bank Transfers are possible even if you don't have a Korean bank account.
Money generally moves in Korea through bank transfers or via cash transactions. Koreans do not 'write cheques' as may happen in your home countries. Instead, payments are made through bank transfers (money is 'wired' from one local account to another).

If you do not have a Korean account, you will not be able to receive payments. However, you will be able to make them. It is not necessary to have a bank account to move money into someone else's account. The transactions can be done by tellers in any Korean bank - not necessarily the one to which the payment is going.

How to proceed:
1. Go to any bank.
2. Tell the teller you wish to transfer money to X bank. (If you're foreign, make sure to mention the name of the bank. Even then, the teller may assume that you are making a wire transfer overseas. Don't panic, just write the name of the bank receiving the transfer payment).
3. The teller will give you a form - although it's all in Korean, no worries. S/he will tell you what to put where - or you can have the information written down before you get to the bank and s/he will fill in the form for you.
4. You will need to give the name of the bank receiving payment, the amount, your name and that of the receiving account holder.
5. There is a small transaction fee, which you should pay in addition to the transfer amount. (a little more or less than W1,000 - feels are slightly lower if you are in the same bank as the receiving account).
6. Give the teller the cash (the amount to be transfered + the service fee).
7. You will be given a computer generated receipt. (Good idea to keep and show if necessary)
8. All done. Transfer is completed.

Paying Utility Bills is possible even if you don't have a Korean bank account.
There are machines in most banks that are set up for utility bill paying. When you received gas, electric, phone, etc. bills, you will notice that they have perforated sections. Bring the entire bill with you to any bank. A staff person (often the security guard) will help you with the process - they do it for Korean customers all the time. If you don't have a bank account here, just bring cash with you. The machine will process your payment at no extra cost.