Hana Bank Eases Main Account Customer Criteria... "More Benefits for Customers"

[Asia Economy Reporter Minyoung Kim] Hana Bank has relaxed the criteria for main transaction customers to provide benefits to more customers.

According to the financial sector on the 15th, Hana Bank will ease the criteria for becoming a main transaction customer and add benefits starting from the 10th of next month.

The existing criteria for main transaction customers required maintaining a monthly average balance of total deposits or total loans of at least 10 million KRW, and customers had to use at least two mandatory transactions (salary, pension, merchant, card payment, management fees) or one mandatory transaction plus two optional transactions (other automatic transfers, electronic financial transfers, installment savings products). Both the total deposit and loan balance conditions and the mandatory/optional transaction conditions had to be met.

The criteria for main transaction customers will change. It will be based on customers whose individual grade is ‘Family’ or higher, or those who hold a certain score or higher based on payment transactions (salary, pension, merchant, management fees, other automatic transfers, etc., regular payment transactions) and product transactions (insurance, funds, discretionary Individual Savings Account (ISA), retirement pension, pension savings, loans, and other long-term product transactions).

To achieve the Family grade, a score of 500 points must be maintained every three months. A score of 300 points is given for salary or pension transfers, and 300 points are also awarded to customers who have been with the bank for over 30 years. The highest scores can be earned by subscribing to products such as deposits or loans.

For ordinary deposit balances, 10 points are given per 100,000 KRW; for savings and installment savings balances, 20 points per 1 million KRW; and for equity-type funds, 30 points per 1 million KRW. For household loans, 30 points per 1 million KRW are given, and for credit card performance over three months, 10 points per 100,000 KRW are awarded.

Hana Bank has revised the benefits for main transaction customers. Previously, main transaction customers received free SMS notification service for deposit and withdrawal transactions, a 100% discount on fund transfer recipient notification service fees, and a 20% preferential exchange rate on currency exchange and remittance. Going forward, customers with Family grade or higher will receive a 50% discount on automated machine usage fees, a 50% discount on phone banking transfer fees and token-type one-time password (OTP) issuance fees, five free internet banking and smartphone banking transfer fees, and a 10% preferential exchange rate on currency exchange and remittance. Customers below the Family grade will only receive the fee discount benefits given to the Family grade, excluding preferential exchange rates on currency exchange and remittance.

To receive preferential treatment on 25 types of fees, including automated machine fees, smart banking transfer fees, counter remittance fees, cashier’s check issuance fees, and safekeeping bill handling fees, customers must be at the ‘VIP (score of 3,000 points or higher)’ or ‘Hana VIP (score of 10,000 points or higher)’ grade. These grades also receive a 30% preferential exchange rate on currency exchange, remittance, and traveler’s checks.

A bank official stated, “We have relaxed the criteria for main transaction customers so that more customers can receive preferential benefits.”

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