Shinhan Bank Launches MyShinhanPoint IRP Automatic Deposit Service

"Card Points Become My Pension"

[Asia Economy Reporter Park Sun-mi] Shinhan Bank announced on the 30th that it will launch the ‘My Shinhan Points Auto Deposit Service,’ which allows customers to deposit My Shinhan Points, the integrated points of Shinhan Financial Group, into their Individual Retirement Pension (IRP) accounts as cash.

The ‘My Shinhan Points Auto Deposit Service’ automatically deposits My Shinhan Points into the IRP account once the points accumulate to the amount set by the customer. The amount can be set starting from a minimum of 10,000 points in increments of 1,000 points.

This service can be easily applied for by setting the desired auto deposit point amount and selecting the IRP account to be credited through the ‘My Shinhan Points Auto Deposit Settings’ menu on the ‘My Retirement Pension’ screen of the Shinhan SOL application. Customers can also receive notification messages when the set points are reached.

The IRP allows contributions of up to 18 million KRW annually, and offers a tax credit benefit of up to 1,155,000 KRW on contributions of 7 million KRW (for annual income under 55 million KRW), making it a representative product for retirement preparation and tax savings.

To coincide with the launch of the service, Shinhan Bank is also running the event ‘Get a Tax Credit with My Shinhan Points and Receive a Gift.’ This event runs from May 3 to 31, and all customers who register for the auto deposit service during this period will receive a Starbucks coffee coupon.

A Shinhan Bank official said, “We hope that through this service, many people will utilize card points that might otherwise be forgotten for retirement preparation and also enjoy tax credit benefits. We will continue to launch various smart retirement preparation services in different ways.”

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