KakaoBank's 'Dormant Deposits and Insurance Money Search' Recovers 20 Billion KRW in 5 Months

[Asia Economy Reporter Kiho Sung] KakaoBank announced on the 28th that the amount of dormant deposits and insurance money reclaimed by customers through the ‘Dormant Deposit and Insurance Money Finder’ service has surpassed 20 billion KRW in just five months. A total of 2.6 million customers have checked the service, averaging 16,000 users per day.

In July, KakaoBank partnered with the Korea Inclusive Finance Agency to launch a service on the KakaoBank mobile app that allows users to simultaneously check and reclaim dormant deposits and dormant insurance money. As of the 27th, the total number of dormant deposit and insurance money claims made through the KakaoBank app reached 880,000, with an average amount reclaimed per person of 34,555 KRW. The highest payout was approximately 9.92 million KRW, and 2,936 customers reclaimed amounts exceeding 1 million KRW.

By age group, those aged 40 and above accounted for the largest share at 63%, followed by 30s at 27%, and those 20 and under at 10%. Notably, among new customers who signed up to use the ‘Dormant Deposit and Insurance Money Finder’ service, 69% were aged 40 and above, indicating strong popularity among middle-aged and older adults.

A KakaoBank official stated, "The service that conveniently helps customers find forgotten deposits and insurance money has attracted many middle-aged and older customers," adding, "We will continue to introduce useful and convenient services to expand our customer base across all age groups."

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