After Cash Payment, "Please Deposit the Change into the Account"

Bank of Korea Launches 'Change Deposit Account Service'

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[Asia Economy Reporter Kim Eunbyeol] A service that deposits change directly into a bank account after purchasing items at convenience stores and department stores has been launched.

The Bank of Korea announced on the 8th that the 'Change Deposit Service' was introduced starting from November 3rd at 2,570 nationwide Korea Ministop stores.

Anyone with a bank account can use the service. After paying with cash or gift certificates, if you do not want to receive change in cash, you can instantly deposit the change into your account by scanning a mobile cash card (a QR code or barcode generated on a smartphone) or a physical cash card at the terminal.

Currently, the service is available through cash cards issued by 12 institutions (NongHyup, SC, Woori, Shinhan, Suhyup, Jeonbuk, Daegu, Gyeongnam, Busan, Jeju, NongHyup Fisheries). By the end of the year, companies such as KEB Hana Bank, KB Kookmin Bank, Industrial Bank of Korea, and Gwangju Bank are also scheduled to introduce the service.

The service will also be available at department stores, outlets, and marts. Hyundai Department Store is building an internal IT system to enable use at 15 branches starting from the end of November. The service is also planned to be introduced by the end of this year at 8 outlet stores and Emart24.

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