bank accounts Archives | Be Korea-savvy

S. Korea Formally Launches Open Banking Service

SEOUL, Dec. 18 (Korea Bizwire) — South Korea formally launched an open banking service on Wednesday in the latest move to boost convenience and lower transaction costs for customers. The new system allows bank customers to use any mobile banking application of their choosing to access their bank accounts at any local bank and to [...]

Banks to Offer Benefits to Customers Who Refuse Bankbooks

SEOUL, Aug. 31 (Korea Bizwire) — Starting next month, those who refuse bank-issued passbooks when creating accounts will be exempt from certain fees according to the Financial Supervisory Service (FSS). Bank tellers will present the option for paper-based passbooks (bank ledgers) and customers will make the decision to apply for one or go without. The [...]