Korea Expat BLog

Bank Account Book Abolished

As almost everything from shopping to dating arrangements are done On-Line in South Korea, banks will cease to issue savings account books from September 2017 . perhaps the only who still use paper accounts may be elders, especially with several accounts in different banks . although paper print is the surest way to verify several transaction among varying banks, this is being enforced mostly due to cost, and will be levied gradually in four stages luring customers to cease using paper booklets by offering minor advantages :

 

*ofcourse exception will be made if :

  1. customers over 60 years old,
  2. and to those who need paper necessary for account management .
  3. others aside from the above will have to pay for it, if they must .

 

Thus the first paper bank account book issued by HanSung Bank 120 years ago in 1897 .

– Korea Expat BLog –

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