GS Retail "NH Investment & Securities Customers Pay '0 Won' Cash Withdrawal Fee at GS25"

GS Retail Signs Business Agreement with NH Investment & Securities
Expands Commission-Free Service to Securities Firms

[Asia Economy Reporter Minyoung Cha] The service that waives fees for cash withdrawal transactions through convenience store ATMs (CD) is expanding from major banks to securities firms.

GS Retail signed a strategic business agreement (hereinafter MOU) with NH Investment & Securities on the afternoon of the 23rd of this month at the NH Investment & Securities headquarters located in Yeouido, Seoul, centered on this content.

The MOU was held with the attendance of both companies' officials, including Kim Jongsu, Executive Director of GS Retail MD Headquarters, and Kim Kyungho, Head of NH Investment & Securities WM Business Division.

Going forward, GS25, a convenience store operated by GS Retail, will waive withdrawal fees for NH Investment & Securities customers making cash withdrawal transactions through ATMs (CD) inside GS25 starting June 1, under the same standards as NH Investment & Securities ATMs.

Customers of NH Investment & Securities who have opened a Comprehensive Asset Management Account (CMA) and received a check card can use the cash withdrawal service under the same conditions as NH Investment & Securities through ATMs (CD) inside GS25.

The ATM (CD) service is a core service of GS25 that creates new customers. This is because more than 35% of ATM users make additional product purchases. The additional sales increase effect for GS25 franchise stores generated by this is estimated at 92 billion KRW annually.

A GS Retail official said, “The annual transaction amount through GS25 ATMs (CD) has exceeded 11 trillion KRW, and the number of users is explosively increasing every year. We plan to continuously expand partnerships with various financial companies such as banks and securities firms to enhance the convenience of GS25 ATM (CD) users while focusing on creating new customers and increasing sales for GS25 franchise stores.”

Meanwhile, the number of financial companies available for use without withdrawal fees at GS25 has increased to a total of 10, including two securities firms, NH Investment & Securities and Samsung Securities, and eight major banks such as Shinhan Bank, KB Kookmin Bank, and Woori Bank.

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