This file photo taken Aug. 25, 2022, shows a bank branch in Seoul. (Yonhap)
SEOUL, April 19 (Korea Bizwire) — Related procedures will be improved to make it easier for patients with mobility difficulties to withdraw their deposits for medical expenses without having to visit a bank in person, the financial regulator said Tuesday.
The Financial Supervisory Service announced that it had established a common banking procedure to improve the convenience of depositors with mobility problems.
Up until now, banks have only allowed deposits to be withdrawn by family members or proxies who possess a seal certificate and power of attorney in the case of depositors with mobility difficulties, as part of efforts to prevent fraudulent withdrawals.
Under the new procedure, which will take effect from Thursday, banks will simplify the required documents.
Family members of depositors with mobility problems can withdraw deposits for medical expenses simply by submitting proof of family relationship, a doctor’s note, and a hospital bill.
The type of medical expenses for which deposits can be withdrawn will also be extended to surgical procedures, hospitalization, and medical inspections.
In case of the death of depositors, the withdrawal of deposits has only been possible when a document signed by all heirs is submitted.
However, banks will now be able to transfer the deposits to hospitals or funeral halls if family members request the withdrawal for funeral expenses.
J. S. Shin (js_shin@koreabizwire.com)
