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Midland Capital Bank, in collaboration with Woori Bank of South Korea, parent company, has established a joint "Business Cooperation Agreement" to assist customers residing in Korea who are planning to enter the U.S. and open a non-interest bearing checking account with Midland Capital Bank in order to ease the transition into the U.S. banking system.

Customers can visit any Woori Bank branch to begin the process of opening a new account. Required documents will be forwarded to Midland Capital Bank and within one to two business days, the customer can receive an account number from Midland Capital Bank. To be eligible for this service, the customers must be at least 18 years of age and must have a U.S VISA to enter legally for studying, working, emigration and long term stay. The customer who has opened an account with Midland Capital Bank can then wire funds into the new account prior to depart from Korea. This will minimize the risk involved with physical transportation of currency and/or prevent lost or stolen traveler's checks.

Upon arrival to the U.S., the customer who has opened the account can visit the branch where the account was made and finalize the new account procedure by submitting a copy of a government issued identification and proof of address in the U.S. at which time the customer can order a checkbook, ATM/Check Card, Visa Secured Credit Card, and/or enroll in internet banking.

Eligibility and Required Documents to Open an Account in Midland Capital Bank
  • Account inquiry
    • Customers at least 18 years old having valid U.S. VISA except visitor visa (B1, B2) and planning for departure within 3 months.
  • Required documents
    • W-8 BEN form
    • Signature Card
    • Passport and U.S.VISA copy
    • Proof of Address in the U.S
    • I-20 for Students
    • Certificate of eligibility for exchange visitors’ status if you have J1 Visa.
  • New Account Procedure for Woori Bank Customers in Korea:
    • Customer can visit their local Woori Bank branch in Korea and submit necessary documents.
    • Submitted documents are forwarded to the branch administration department of Midland Capital Bank in the U.S.
    • The branch administration Department will then forward the documents to the nearest or customer preferred Midland Capital Bank branch.
    • Upon receipt of the documents, the branch Customer Service Representative (CSR) will open an account and forward the account number back to the branch administration department.
    • The branch administration department will forward the account number back to the appropriate Woori Bank branch.
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