Commercial Banks Say "No Mobile Branches During Chuseok"... Encourage Active Use of ATMs and More

Significantly Reduced Due to the Impact of COVID-19

Woori Bank mobile branch operated during the 2019 Chuseok holiday period.

[Asia Economy Reporter Kiho Sung] Commercial banks will not operate mobile branches during this Chuseok holiday. Since the outbreak of COVID-19 last year, the policy of refraining from operating mobile branches to prevent the spread of infection will be maintained this holiday as well. NH Nonghyup Bank is the only bank operating mobile branches, but it plans to open for just one day on the 17th.

According to the financial sector on the 18th, KB Kookmin Bank, Shinhan Bank, Hana Bank, and Woori Bank do not plan to operate mobile branches during this Chuseok holiday period. A representative from a commercial bank stated, "Due to the spread of COVID-19, mobile branches that were operated during holidays and vacation seasons have been discontinued," adding, "It will be possible to reconsider only when COVID-19 cases have significantly decreased."

Until now, commercial banks have operated mobile and flexible branches during holidays and vacation seasons for the convenience of returning travelers and tourists.

In 2019, nine banks including Nonghyup, Shinhan, Woori, Hana, Industrial Bank of Korea, Kookmin, Daegu, Busan, and Gyeongnam Banks operated 14 mobile branches nationwide at highway rest areas and train stations during the Chuseok holiday. Mobile branches allowed deposit and withdrawal transactions through ATMs and also enabled exchanging old bills for new ones.

Additionally, to support deposits, withdrawals, remittances, and currency exchange, nine banks operated 33 flexible branches at airports and areas densely populated by foreign workers.

Meanwhile, Nonghyup Bank operated mobile branches on the 17th at Hanam Dream Rest Area on the Jungbu Expressway and Nonghyup Seongnam Distribution Center from 9 a.m. to 4 p.m. In response to the COVID-19 situation, Nonghyup Bank developed a new bill-only ATM program earlier this year for contactless new bill exchange, and applied it on-site during this Chuseok holiday as well as the previous Lunar New Year holiday, providing financial services such as new bill withdrawals and account transfers. However, considering the COVID-19 situation, the number of operating branches and the duration were significantly reduced compared to the past.