DGB Daegu Bank Launches Campaign to Locate Long-Term Dormant Trust Accounts

December Monthly
Mail and Phone Notification for Accounts with Final Transaction Date Over 5 Years and Expired Accumulation Maturity Date

[Asia Economy Reporter Park Sun-mi] DGB Daegu Bank announced on the 27th that it will conduct a ‘Long-term Inactive Trust Account Recovery’ campaign for one month starting from the 1st of next month.

The ‘Long-term Inactive Trust Account Recovery’ targets accounts that have been inactive for more than five years since the trust maturity date or the last transaction date. Regardless of the balance, accounts with no deposit or withdrawal transactions for over five years or accounts past the savings maturity date are included. In the case of ‘Individual Pension Trusts,’ accounts past the savings maturity date with a balance under 1.2 million KRW or accounts not receiving pension payments are subject to this campaign.

DGB Daegu Bank will send postal notifications to customers holding accounts with balances between 50,000 KRW and less than 100,000 KRW, and will provide related information via phone calls to customers with account balances of 100,000 KRW or more.

Details of ‘Long-term Inactive Trust’ holdings can be checked at DGB Daegu Bank branches and on the website. Accounts with no deposit or withdrawal transactions for one year and balances of 500,000 KRW or less can be checked and closed through the account integration management service.