Shinhan Bank

Free opening account

No minimum balance

No maintenance fee

Enjoy various facilities in transactions: Internet Banking, Shinhan Bank's Branch/Transaction Office network,…

Step 1: The Customer shall provide documents, information, and data (hereinafter referred to as the “Dossier”) in accordance with the guidance of Shinhan Bank (hereinafter referred to as “SHBVN”).

Step 2: SHBVN shall verify the legality, validity, consistency, and accuracy of the Dossier provided by the Customer; conduct the verification of customer identification data & information in accordance with the legal regulations on Anti-Money Laundering (AML), meet the lawful representative in person and verify identification documents, check the consistency of biometric information* of the lawful representative as prescribed by law and SHBVN's regulations from time to time.

*Not applicable to exceptions as prescribed by law and SHBVN's regulations from time to time.

Step 3: Upon completing the review, cross-checking, and verification of customer identification data & information, the Bank shall proceed as follows:
a. In the event the Dossier is deemed complete, accurate, and valid: Provide the Customer with the agreement on the opening and use of a demand deposit account, which includes:
- The “Application for opening, using accounts and services for entity”
- The “Essential information on opening and use of account at Shinhan Bank”
b. In the event the Dossier is incomplete, inaccurate, or contains discrepancies: Notify the Customer to review and complete the Dossier or reject the application for opening demand deposit account and clearly state the reason(s) for such rejection.

Step 3: Upon completing the review, cross-checking, and verification of customer identification data & information, the Bank shall proceed as follows:
a. In the event the Dossier is deemed complete, accurate, and valid: Provide the Customer with the agreement on the opening and use of a demand deposit account, which includes:
- The “Application for opening, using accounts and services for entity”
- The “Essential information on opening and use of account at Shinhan Bank”
b. In the event the Dossier is incomplete, inaccurate, or contains discrepancies: Notify the Customer to review and complete the Dossier or reject the application for opening demand deposit account and clearly state the reason(s) for such rejection.
c. In the event it is discovered that the Customer has used forged or illegal documents, information, or data, or if the Customer is on a Blacklist as stipulated by the laws on Anti-Money Laundering: Report to the competent authorities and handle the case in accordance with legal regulations.

Step 4: Once the Customer agrees to the terms and conditions of the Agreement on the Opening and Using of Demand Deposit Account, SHBVN shall proceed to open and notify the Customer of the account number, account name, and the date on which the account becomes active.