K Bank Introduces "Get Your Money Back for Mistaken Transfers" Service

"Application for Mistaken Transfer Return Now Available"
Check Application Progress in Real Time
Return Possible Only with Full Consent of Recipient
If Not Agreed, Use Korea Deposit Insurance Corporation System

K Bank announced on May 27 that it has introduced a new service called "Get Your Money Back for Mistaken Transfers," allowing customers to conveniently request the return of funds sent in error directly through its application (app).

The "Get Your Money Back for Mistaken Transfers" service enables customers to apply for the return of mistakenly transferred funds directly within the K Bank app. To apply, customers can access the Customer Service section from the All tab at the bottom of the K Bank app and click on "Get Your Money Back for Mistaken Transfers" to proceed. Eligible types of mistaken transfers include transfers from a K Bank account to another K Bank account, transfers from a K Bank account to an account at another bank, and transfers from another bank account to either another bank or K Bank account using K Bank Open Banking.

This service only allows the return of funds if the recipient of the transfer agrees, and applications can only be made for the full amount of the transfer. If a partial return of the transferred amount is required, customers must continue to contact customer service as before.

Customers who have applied for a return can check the progress in real time through the app, and they will be notified via AlimTalk as soon as the result of the return is confirmed.

If the recipient does not agree to the return, customers can request recovery through the "Mistaken Transfer Return Support System" operated by the Korea Deposit Insurance Corporation. This system allows the Korea Deposit Insurance Corporation to support the return of mistakenly transferred funds on behalf of the recipient, and applications can be made for transfers of at least 50,000 won and up to 100 million won per transaction.

A K Bank representative stated, "We have introduced an app-based mobile service so that customers can respond to mistaken transfers more easily and quickly before the return support procedures of the Korea Deposit Insurance Corporation," adding, "We will continue to expand various digital financial services to minimize inconvenience for financial consumers and protect their rights and interests."