Shinhan Bank Launches Non-Face-to-Face Foreign Exchange Transaction Agreement Service

First in the Banking Sector: Foreign Exchange Transaction Agreement Can Be Concluded via Internet Banking Without Visiting Branches

Shinhan Bank is implementing the country's first "Non-face-to-face Foreign Exchange Transaction Agreement Service" to enhance the convenience of export-import transaction customers.

[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 9th that it has implemented the country's first 'Non-face-to-face Foreign Exchange Transaction Agreement Service' to enhance the convenience of export-import transaction customers.

The foreign exchange transaction agreement is the first procedure in contracts made for export-import transactions, such as the issuance of import letters of credit by importers and the purchase of export letters of credit by exporters.

Previously, export-import transaction customers had to bring the required documents to the bank branch to complete the agreement process, but with this new service, customers can conclude the agreement without visiting the branch by submitting only simplified documents.

Export-import transaction customers who wish to use the service can proceed through Shinhan Bank's corporate internet banking under the foreign exchange menu, and the application is completed by checking and consenting to submit only the business registration certificate through the Fine System linked within internet banking.

A Shinhan Bank official said, "This service takes a step forward in digitizing the export-import business process," adding, "We will continue to provide better services for the convenience of export-import transaction customers and firmly establish our position as a customer-centered digital bank."

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