KakaoPay Securities Hosts Cashback Event on Overseas Stock Trading Fees
Lifetime Sales Commission Benefits When Transferring Overseas Stocks Held by Other Companies
Kakao Pay Securities announced on the 6th that it will hold the ‘Buy Anywhere, Sell Here’ event, which refunds overseas stock sales commissions for life to overseas stock investors.
This event targets users who transfer overseas stocks purchased from other financial companies to their Kakao Pay Securities account with an amount of 20 million KRW or more by January 7, 2025. Applications are accepted until the 31st of next month.
To participate in the event, users must apply for the event through the ‘Stocks’ menu in the Kakao Pay app or KakaoTalk Kakao Pay Home, and then transfer overseas stocks held at other financial companies to their Kakao Pay Securities comprehensive account or stock account within the deposit period. The event may automatically end if the number of participants exceeds 5,000 on a first-come, first-served basis.
Kakao Pay Securities plans to refund overseas stock sales commissions in the form of cashback for life. Cashback for overseas stock sales amounts from Monday to Friday based on local time (until the Saturday after-market in Korean time) will be paid every Monday of the following week.
The cashback amount will be paid excluding related institutional fees such as those from the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The refunded commission will be calculated by applying the foreign exchange brokerage rate first announced on the day of sale when converted to Korean won.
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A Kakao Pay Securities official stated, “We prepared this event to provide a more economical and free trading environment for overseas stock investors,” and added, “We will continue to enhance benefits so that many investors can experience Kakao Pay Securities’ special convenience and fully seize investment opportunities in their daily lives.”
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