Withdrawal deferment system and transfer deferment service
Withdrawal deferment system- “Withdrawal deferment system” refers to the system in which withdrawal or transfer through CD/ATM is deferred for 30 minutes for the scope of the relevant amount of deposit to a certain amount when at least 1 million won is transferred for 1 time. However, immediate withdrawal and transfer is available directly at a financial company.
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Category |
Description |
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Subject of application |
√ When withdrawing at an ATM with a card regarding the cash deposit of at least 1 million won for 1 time based on the receiving account (deposit account) |
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Delay method |
√ Delay of withdrawal for 30 minutes with the deposited amount as the limit even when the balance is changed after the deposit or transfer of at least 1 million for 1 time |
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Participating organizations |
√ Organizations treating savings (demand deposit) in which deposit and withdrawal is unrestricted |
Transfer Deferment Service- ”Transfer deferment service” refers to a service that enables remittance to the recipient’s account after a certain time (at least 3 hours) for a transfer and can be cancelled within a certain time (30 minutes prior to final transfer processing time). However, it does not apply to a direct transaction at financial companies.
- The transfer deferment service may be requested by visiting business branches or online (smart) banking of the relevant financial company, and the service details may vary according to each bank.
- Details of transfer deferment service
· The time for transfer can be deferred by a certain time, whose maximum is 3 hours
· Immediate transfer service available by setting limit for each transaction (1 million won maximum) even if the transfer deferment service is used
· Immediate transfer available when transfer between one’s own account of the relevant bank, pre-registered transfer between accounts is consistent
Deposit account designation service- “Deposit account designation service” refers to a service in which remittance to the pre-designated account has no limit on amounts within the electronic financial transfer limit but only small-amount transfer (transfer limit set within 1 million won per 1 day) is available for undesignated accounts. However, it does not apply to window transactions of financial companies.
- The deposit account designation service may be requested by visiting business branches or online (smart) banking of the relevant financial company, and the service details may vary according to each bank.
Foreign IP blocking service- “Foreign IP blocking service” refers to a service that blocks to disable transfer transactions when the IP used is not local for the purpose of preventing the financial withdrawal attempted from abroad using information acquired through information leakage or hacking.
- The foreign IP blocking service may be requested by visiting business branches or online (smart) banking of the relevant financial company, and the service details may vary according to each bank.