Gyeongnam Bank Launches Next-Generation Overseas Remittance Service... "Same-Day Transfer Completion"

[Asia Economy Reporter Kim Min-young] BNK Gyeongnam Bank is the first regional bank to launch next-generation overseas remittance services.

Gyeongnam Bank announced on the 8th that it will implement the next-generation overseas remittance service, SWIFT GPI, starting from the 11th. It adopted the remittance method of SWIFT, the operator of the overseas remittance network.

Gyeongnam Bank plans to enhance customer convenience by providing differentiated remittance services that complement the shortcomings of existing overseas remittances, shorten the remittance processing time, and provide real-time information on the location of the remittance amount.

According to Gyeongnam Bank, the overseas remittance processing time, which used to take from 2 to up to 4 days, will be processed on the same day.

In addition, the overseas remittance process can be tracked in real time, including whether the remittance amount has passed through which banks and has been finally deposited into the recipient's account, making transactions between the sender and the recipient more transparent.

A Gyeongnam Bank official said, “With the implementation of the next-generation overseas remittance service SWIFT GPI, we have improved the quality of remittance services so that overseas remittances can be processed faster and more safely. We will continue to develop services that can enhance convenience and satisfaction from the customer's perspective.”

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