Hana Bank Launches Pre-Verification Service for Overseas Remittance Receiving Accounts

Hana Bank announced on the 14th that it will implement a 'Pre-Verification of Recipient Account' service that allows prior checking and verification of overseas recipient account status to enhance the reliability and stability of international remittances.

With the implementation of the Pre-Verification of Recipient Account service, customers who know the ▲recipient's name ▲recipient's account number ▲recipient bank's BIC (Bank Identification Code) or bank code can visit a Hana Bank branch to verify recipient account information before remittance, which has been considered the biggest difficulty in international remittances.

This service consists of 'Initial Pre-Verification of Recipient Account,' which verifies whether the customer has a history of remitting to the overseas recipient account, and 'Pre-Verification of Recipient Account,' which checks the status of the overseas recipient account and whether the account holder matches in advance to detect any abnormalities.

The Initial Pre-Verification of Recipient Account is a service that verifies and informs customers in advance of their past remittance history through Hana Bank to prevent fraudulent transactions, as cases of sending money to incorrect accounts have increased recently due to the rise in email hacking. The Pre-Verification of Recipient Account applies the service provided by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) to international remittances, allowing prior confirmation of ▲the existence of the recipient account ▲whether normal transactions are possible, etc. It is expected to greatly help reduce customers' post-management costs and ease employees' workload.

A representative from Hana Bank's Foreign Exchange Business Support Department said, "This service is a premium service unique to Hana Bank, reflecting the expertise of a foreign exchange specialized bank," and added, "We will expand the service to be available through non-face-to-face channels such as Corporate Internet Banking, Hana One Q, and Hana EZ."

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