[Gi Ha-Young's Life Card] National Support Fund A to Z... From Usage to Card Benefits

Mutual Growth National Support Fund, 66.7% Paid in Six Days
Confusing Usage... Local Love Gift Certificates in Address Area Are Basic
Franchises Require Membership, Delivery Apps Only Accept On-site Payment
Card Company Events Are Minimal... Must Meet Usage Requirements and Aim for Chuseok Events
Offline Applications Start from the 13th

Is there anyone these days without at least one credit card? In modern society, anyone can have a card if they want. Credit cards have brought unparalleled convenience to daily life. Now, wherever you go, you can easily see people paying with credit cards or smartphones. As demand has increased, cards with various benefits are being released almost daily. Accordingly, Asia Economy delivers diverse stories related to cards, which are inseparable from our consumer life, through the weekly 'Cards in Daily Life' corner, including introductions to new cards, industry behind-the-scenes, and guides for card beginners.

[Image source=Yonhap News]

Since the online application process for the 'COVID-19 Coexistence National Support Fund' began on the 6th, 66.7% of eligible recipients have received the support fund within six days. A total of 28,862,000 people have been paid a total of 7.2155 trillion KRW, of which 89.4% applied using credit or debit cards, an overwhelming majority. Since the support fund usage rate has exceeded half, we have summarized useful information for using the National Support Fund, including where it can be used.

Basic Usage Locations... 'Local Love Gift Certificate Merchants' within the Address Area

The National Support Fund, which provides 250,000 KRW per person to the bottom 88% income group, can be used from the day after applying with a credit or debit card. If you receive a usage confirmation message from the card company, you can use the support fund at local love gift certificate merchants.

The first important point to note is that this National Support Fund can only be used at local love gift certificate merchants within your registered address area. Citizens residing in special or metropolitan cities can use the support fund at local gift certificate merchants within those cities, while those with addresses in provinces can use it at local gift certificate merchants within the corresponding city or county of their detailed address. For example, a citizen living in Seoul Special City can use the support fund at local gift certificate merchants in Seoul, and a citizen living in Gyeonggi-do can use it not throughout Gyeonggi-do but in the specific city of their address, such as Suwon-si or Goyang-si.

The number of local love gift certificate merchants is about 82% of the number of credit card merchants. Since the types of businesses where local gift certificates can be used vary according to local government ordinances and the number of registered merchants differs, it is essential to check the usage locations before use.

Not Allowed at Online Malls or Large Supermarkets... Delivery Apps Only Allow On-site Payment

The National Support Fund can be used at traditional markets, neighborhood supermarkets, restaurants, cafes, bakeries, most convenience stores that are not directly operated, hospitals, pharmacies, hair salons, stationery stores, clothing stores, optical shops, daycare centers, kindergartens, academies, and more.

Since the usage locations are limited to local love gift certificate merchants to ensure support benefits go to self-employed and small business owners, it cannot be used at large corporate affiliates. It is not usable at department stores, complex shopping malls, large supermarkets, corporate supermarkets, duty-free shops, foreign multinational company stores, large corporate electronics direct sales stores, large corporate franchise direct stores, large delivery applications (apps), online malls, or home shopping. For example, global large companies such as Starbucks, IKEA, Apple, which accepted last year's nationwide disaster support fund, and luxury brand stores like Chanel and Louis Vuitton cannot be used.

However, even inside large supermarkets, if a small business operates a leased store registered as an individual merchant, the National Support Fund can be used there. But food courts generally cannot be used because they use the payment system of the large supermarket, so caution is needed.

Franchise brands such as chicken shops, bakeries, and cafes operated by large corporations can be confusing. The basic rule is that the support fund cannot be used at headquarters-operated stores but can be used at franchise stores run by franchisees. For example, franchise stores like Paris Baguette, Dunkin', and Baskin Robbins are eligible, but support funds cannot be used at directly operated stores like Starbucks and Coffee Bean. GS The Fresh and NongHyup Hanaro Mart are excluded from this National Support Fund usage, but small-scale Hanaro Marts registered as local love gift certificate merchants in the region may be eligible, so verification is necessary.

Delivery apps like Baedal Minjok and Yogiyo generally do not allow the use of the support fund. However, if payment is made on-site using the restaurant's own terminal, the support fund can be used.

If You Are Confused About Usage Locations... Refer to Card Company Services

If you are confused about where to use the fund, you can use the usage notification services provided by card companies. Shinhan Card offers the 'Our Neighborhood Support Fund Store Notifier' service, which sends push notification messages via the Shinhan Payfan application (app) about merchants near your home where you can use the support fund. Among customers who applied for the National Support Fund and agreed to location-based services, from the 8th, when entering a nearby commercial area based on the registered home address in Shinhan Card, you can receive messages showing support fund merchants on a map.

Samsung Card operates a merchant search service. The search screen displays the region where the customer applied for the National Support Fund at the top, and you can conveniently search for merchant names, addresses, and contact information by entering the desired region's merchant name. KB Kookmin Card and Woori Card provide services that display merchants eligible for the National Support Fund on a map, and Hyundai, BC, and Hana Card also offer National Support Fund usage location guidance services.

Card Companies’ National Support Fund Marketing Is Minimal... Focus on Card Spending and Chuseok Events

Financial authorities have advised card companies to refrain from promoting the National Support Fund, so related events have disappeared. Instead, since the National Support Fund is mostly included in card spending, managing this or participating in Chuseok events is a way to enjoy additional benefits.

For example, Samsung Card offers a coffee coupon to all customers who apply for the event and spend 50,000 KRW or more, including the National Support Fund, at convenience stores, restaurants, coffee shops, bakeries, and pharmacies using Samsung personal credit cards (including family cards) by the 19th.

NH NongHyup Card and Woori Card also provide prizes or cashback based on payment amounts including the National Support Fund. NH NongHyup Card will hold a draw for 1,035 customers who spend 400,000 KRW or more, including the disaster support fund, at all domestic merchants during September, awarding massage chairs and other prizes. Woori Card will also hold a draw by the 24th for 1,717 customers who spend 100,000 KRW or more cumulatively at markets, discount marts, home shopping, department stores, and online shopping malls using Woori Card, with a maximum cashback of 300,000 KRW.

Offline Applications Begin on the 13th... Week One Uses a Day-of-Week System

Offline applications for the National Support Fund start on the 13th. In the first week, a day-of-week system similar to the online system will be applied based on the last digit of the birth year. On the 13th, those born in years ending in 1 or 6 can apply; on the 14th, those ending in 2 or 7; on the 15th, those ending in 3 or 8; on the 16th, those ending in 4 or 9; and on the 17th, those ending in 5 or 0. For example, on the 13th, people born in 1951, 1966, or 1976 can apply for the National Support Fund.

Citizens who want to receive the National Support Fund via credit or debit cards should visit the bank linked to their card, and those who want to receive it via prepaid cards or paper-type local love gift certificates should visit the local town, township, or neighborhood community service center that has jurisdiction over their address to apply.