OK Savings Bank "Create Savings and Deposit Accounts at Once Without Transferring from Other Banks"

[Asia Economy Reporter Song Seung-seop] OK Savings Bank announced on the 6th that it will provide a ‘One-Shot Account Opening’ service that allows customers to transfer balances from other banks at once via mobile banking when subscribing to fixed deposits. This service was introduced through the customer panel system and is the first of its kind in the savings bank industry.

OK Savings Bank explained that the inconvenience of having to transfer funds directly from other bank accounts each time a fixed deposit account is opened non-face-to-face will be eliminated. Since it utilizes open banking, customers can freely use the service within a daily limit of up to 10 million KRW. The idea was reflected from the recently conducted ‘OK Savings Bank Customer Panel 4th Term.’

To commemorate the launch of the service, the special sale of ‘Early Termination OK Fixed Deposit 369’ will also be extended. The interest rate for this product is about 2.2% per annum (before tax, variable interest rate every 3 months). The sales limit has been increased by 100 billion KRW to 400 billion KRW. Sales will automatically end once the limit is reached.

Jung Gil-ho, CEO of OK Savings Bank, emphasized, “The One-Shot Account Opening service is the first service planned through the process of listening to various customer opinions,” adding, “We will continue to identify and improve customer inconveniences going forward.”