CU Launches 24-Hour Bank Transfer Service Without Account Holder Verification

If you present the remittance app Send barcode at the checkout, you can make cashless remittances 24 hours a day at stores nationwide

Fees are about 45% cheaper compared to ATMs

[Asia Economy Reporter Lim Hye-sun] CU partnered with the remittance application Send to launch a 24-hour convenience store cashless remittance service on the 31st.

The CU cashless remittance service is a convenient service that allows you to send cash to another person's account without a certified certificate, a bank account in your name, or complicated authentication procedures.

The usage method is to install the Send application on your smartphone, sign up as a member, enter the recipient's account, then present the generated remittance barcode to the store clerk and hand over the amount of cash you want to remit.

This service is a cash deposit service that transfers cash to an account, not an account-to-account transfer method that moves money from one account to another. Therefore, unlike existing remittance apps, it is a great advantage that foreigners, teenagers, and others without a bank account in their own name can also use it.

Also, the fee is about 45% cheaper than ATM remittance fees, which are around 900 to 1,300 KRW per transaction (based on VAN-operated ATMs).

In addition to free remittance, CU also enhanced customer convenience by providing a barcode payment service that allows customers to purchase products with the amount pre-charged in the Send application.

Send plans to introduce services in 12 languages, including Vietnamese, Indonesian, and Thai, within the first quarter to facilitate the use of foreign customers.

This content was produced with the assistance of AI translation services.