Industrial Bank of Korea

Products Info.

Product Features

Exclusive product providing preferential treatment on overseas remittances and foreign currency exchange fees for foreign customers

Subscription Eligibility

Individual foreigners living in Korea

Product Type

Common deposit, Savings deposit

Subscription Period

Unlimited

Subscription Amount

Unlimited

Preferential Benefits

• Fee waiver
  • Offering terms
    • Current month fee is waived if one or more of the following preferential conditions are met at the end of the previous month:
      • ① If there is a payroll earnings (note 1) (hereinafter referred to as payroll transfer) under this account
      • ② If the amount of payment (note 2) of the current credit card (check card) that designated this bank account as payment account is more than 200,000 won
      • ③ If overseas remittance amount is over $500 (USD equivalent in conversion)
      • ④ If the customer has a installment savings account in this bank under his or her name
      • Note 1) Criteria for acknowledging payroll transfer
        • If the customer deposits more than 500,000 won per month through one or more of the following methods
          • Payroll via our branch or via the Internet
          • Registers the designated date in our system and deposits in the terms of 'salary', 'bonus' and 'monthly wage'
      • Note 2) Payment amount of our bank’s credit card (check card): Based on sales receipts, excluding cash service
  • Target fee
    • Other banks’ transfer fee using our bank’s electronic banking (telebanking, internet banking, mobile banking)
    • Other banks’ transfer fee using our bank’s automated equipment
    • Withdrawal fee of using other banks’ automated equipment (5 times a month)
  • New subscription special exemption
    • The fee waiver benefit mentioned above shall be granted without any conditions from the date of subscribing (first transition date) to this account to the end of the deserved month for one month.
• Foreign Exchange Service
  • Offering terms
    • Current month fee is waived if one or more of the following preferential conditions are met at the end of the previous month:
      • ① If there is a record of the transfer of payroll in our bank using this account
      • ② If the accumulated or deferred balance in the name of the customer is more than 1 million won
      • ③ Overseas remittance amount is over $500 (USD equivalent in conversion)
  • Target fee
    • Reducing 60% in foreign currency remittance fee
    • Applying 60% preferential rate on foreign currency exchange fee
• Additional Benefits
  • Free service of cultural courses
    • This customer subscribed to this account can take the IBK Cyber Culture Center (http://happy.ibk.co.kr) for free, and it is offered for one year from the effective date of this account.
      However, the bank can extend the free course period.
    • Courses in the IBK Cyber Culture Center: Foreign language, computer use, life culture, etc.

Whether it is protecting depositors

Yes

Notice

Whether to join the non-taxable general savings

If the customer meets the requirements prescribed in the Tax Reduction and Exemption Control Act (of Korea), he or she can subscribe to non-taxable general savings and if the relevant law is changed, the applicable content (subscription limit, tax rate, etc.) will be changed and applied according to the law.

• Please contact your local sales branch or IBK Customer Center (☎1566-2566) for more information on individual products.
• If there is any objection to the banking transaction, you can request the IBK Bank's Dispute Resolution Body to settle it or apply for dispute settlement through the Financial Dispute Resolution Committee.
  (Financial Supervisory Service: ☎ 1332, IBK Bank: ☎ 080-800-0119)
• IBK Bank does not accept money and other valuables or entertainment for hospitality. Please report any violation of ethical management or needed improvements.
  
  Phone: 02-729-7490
  e-Mail: ibkethics@ibk.co.kr