BNK Financial Group Busan Bank and Kyongnam Bank Launch 'Long-term Dormant Trust Recovery' Initiative

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] BNK Financial Group's Busan Bank and Gyeongnam Bank announced on the 2nd that they will conduct a campaign called ‘Finding Long-term Dormant Trust Accounts’ until November 30 to locate dormant trust accounts with no transactions for a long period.

The ‘long-term dormant trust accounts’ targeted by the campaign are accounts that have passed more than five years since the trust maturity date or the last transaction date. For general trusts, these are accounts with no deposit or withdrawal transactions for over five years regardless of the balance, or accounts past the maturity date of the savings.

‘Personal pension trusts’ subject to the campaign are accounts where the savings maturity date has passed and the balance is less than 1.2 million KRW or where pension payments have not been received. Customers can visit the nearest Busan Bank or Gyeongnam Bank branch with their ID to inquire about and close these long-term dormant trust accounts. Accounts with no deposit or withdrawal transactions for one year and a balance of 500,000 KRW or less can also be managed through the account integration management service.

Busan Bank and Gyeongnam Bank will send notification letters by mail to customers holding accounts with balances between 50,000 KRW and less than 100,000 KRW, and will provide guidance by phone to customers holding accounts with balances of 100,000 KRW or more.

A BNK Financial Group official said, “To protect customers’ valuable financial assets, we continuously conduct the ‘Finding Long-term Dormant Trust Accounts’ campaign and have designated November as a focused cleanup period for this campaign. We will also explore various measures to protect the rights and interests of financial consumers.”

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