Savings Banks to Offer 100% Non-Face-to-Face Service for Tax-Exempt Comprehensive Savings Starting from the 25th

[Asia Economy Reporter Kim Min-young] The Korea Federation of Savings Banks announced on the 24th that it has improved the ‘SB Toktok Plus’ application (app) to allow financially vulnerable groups, such as people with disabilities, to open tax-exempt comprehensive savings accounts 100% non-face-to-face.

Until now, when opening a tax-exempt comprehensive savings account, some savings banks only accepted supporting documents such as disability certificates through in-branch visits, causing inconvenience as customers had to visit the branch in person.

The Federation has completed the system development to receive supporting documents through the SB Toktok Plus app, verify them, and apply the tax exemption. The non-face-to-face service will start on the 25th.

A Federation official said, “Customers will be able to open tax-exempt comprehensive savings accounts without visiting branches through the mobile banking app, allowing them to enjoy tax-exempt benefits more easily and conveniently. We plan to provide more various non-face-to-face financial services in the future to make savings banks more convenient and safe to use.”

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