Gyeongnam Bank Increases Preferential Exchange Rate for Non-Face-to-Face Foreign Currency Remittances from 30% to 50%

Applied to Non-Face-to-Face Foreign Currency Remittance and Exchange Including Mobile Banking and Internet Banking

[Asia Economy Reporter Park Sunmi] BNK Gyeongnam Bank announced on the 4th that it will expand the 'preferential exchange rate for non-face-to-face foreign exchange transaction services' to welcome the New Year of 2021, the Year of the Ox.

The preferential exchange rates applied when remitting foreign currency domestically and internationally or exchanging currency (KRW → foreign currency) through non-face-to-face channels such as mobile banking and internet banking have been changed. The preferential exchange rate for domestic and international foreign currency remittances has been expanded from the previous 30% to 50%.

For internet currency exchange, all currencies have increased from 30% to 50%, and for foreign currency gifticon exchange, major currencies such as US Dollar (USD), Japanese Yen (JPY), and European Union Euro (EUR) have increased from 30% to 90%, while Chinese Yuan (CNY) has increased from 30% to 50%. BNK Deo Joeun Currency Exchange applies preferential exchange rates of 70% to 90% for major currencies such as US Dollar (USD), European Union Euro (EUR), and Japanese Yen (JPY), and 40% to 50% for other currencies such as Chinese Yuan (CNY), Thai Baht (THB), Hong Kong Dollar (HKD), and Australian Dollar (AUD).

Kim Sangwon, head of the Foreign Exchange Division, said, “Considering the increasing use of non-face-to-face channels such as mobile banking apps for domestic and international foreign currency remittances and exchanges, we have expanded the preferential exchange rates for foreign exchange transaction services. Using non-face-to-face foreign exchange transaction services will help reduce financial burdens.”

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