Best places to exchange money in Seoul - Wise (2024)

Currency exchanges in Seoul

Consider using digital alternatives like Wise when looking at currency exchanges. If you still need to have some physical cash, here are a list of currency exchanges you can find in Seoul.

A reminder from us - There's no such thing as 0% commission or fee-free so remember to do your research and make an informed decision.

South Korean won rate today

The accepted currency in Seoul and across South Korea is the South Korean won.

However, when you visit a currency exchange, you'll find that they use currency codes. Specifically, the currency code for the South Korean won is KRW. Keep an eye out for this code if you're comparing exchange rates.

What you should know about exchanging money in Seoul

Before exchanging money in Seoul or any foreign city, it's important to be informed to avoid excessive charges and get the best deals. Consider opening a bank account in South Korea for long-term stays or substantial investments like buying property or cars.

1. Beware of 'zero fee' services
Services claiming 'no commission' often offer poor exchange rates, not reflecting the mid-market rate, leading to hidden profits for them.

2. Check the exchange rate beforehand
Familiarize yourself with the base rate to identify a bad deal from exchange services.

3. Avoid exchanging money at airports or hotels
Convenience comes at a price, as airports and hotels usually offer poor rates and high transaction fees.

4. Use ATMs strategically
Check if your home bank has partnerships in South Korea banks to avoid extra ATM fees, and inform your bank before traveling.

5. Opt for local currency
When using an ATM abroad, choose to be charged in South Korean won for a fairer rate and avoid undisclosed exchange rates and additional fees.

Consider an alternative to physical currency exchanges

Say goodbye to overcomplicated currency exchange. Wise can help you get a better deal on currency conversion in over 40 currencies, with the mid-market exchange rate and low fees.

Open a personal Wise account online or in the Wise app, and order a linked debit card for a one-time fee to spend and withdraw money in 150+ countries.

There’s no fee to spend any currency you hold, and no foreign transaction fee to worry about. Use your account when you travel or shop online in foreign currencies, send payments in 70+ currencies, and get your own local bank details in 9 currencies.

Get a Wise Account in minutes!

Please see the Terms of Use for your region or visit for the most up-to-date information on pricing and fees.

Bottom line

As you can see, there’s no shortage of options when it comes to exchanging money in Seoul. Don't forget to do your research on the exchange rate before converting your money, and check Wise out if you want a fuss-free alternative to exchanging cash.