Banking and Securities Transactions in One... 'KB Able Plus Account' Gains Popularity

Cumulative Subscriptions Reach 426,000 Accounts... Balance Exceeds 1.569 Trillion Won

[Asia Economy Reporter Kwangho Lee] Riding the wave of direct investment by individual investors, the biggest trend this year, KB Kookmin Bank's ‘KB Able Plus Account’ has attracted strong market attention with over 380,000 new subscriptions recorded this year alone.

According to Kookmin Bank on the 23rd, as of the 14th, the cumulative number of KB Able Plus Account subscriptions exceeded 426,000, with balances surpassing 1.569 trillion KRW.

A Kookmin Bank official explained, "Since COVID-19, abundant liquidity and a booming stock market have significantly increased account openings," adding, "The advantage of being able to trade stocks using the bank deposit and withdrawal account customers previously used has attracted a customer base that had not engaged in securities trading before."

This account is a bank-securities hybrid account that allows direct securities trading from the account. The stock purchase funds, excluding entrusted margin, are managed through a Comprehensive Asset Management Account (CMA) RP (a product investing in repurchase agreements rated A or higher), providing additional returns. Trading can be conducted directly using the balance in the deposit and withdrawal account without the need to transfer trading funds to a securities company.

In particular, if there are records of KB card payments, utility bill transfers, or salary transfers, customers can be exempted from ▲electronic financial institution transfer fees to other banks ▲KB Kookmin Bank automated teller machine out-of-hours withdrawal fees ▲payer automatic transfer (other bank automatic transfer) fees. Additionally, KB Star Club MVP and Royal Star customers receive a 250% preferential limit when applying for public offering subscriptions through KB Securities.

To enhance convenience in stock trading during banking transactions, KB Financial Group launched the ‘Easy Stock Trading’ service through the renewed ‘New KB Star Banking’ application on October 27. Next year, they plan to expand the range of securities companies available for direct trading from KB Kookmin Bank deposit and withdrawal accounts by partnering with other securities firms.

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