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S. Korea to help people recoup funds lost in bank transfer mistakes from July 2021

2020-12-21 10 Dailymotion

'아차' 잘못 보낸 돈, 내년 7월부터 쉽게 돌려받는다<br /><br />When transferring money to another bank account, it is easy to accidentally type the wrong account number and send the money to the wrong person by mistake.<br />Getting that money back is a costly, time-consuming process, but BEGINNING next July, the Korea Deposit Insurance Corporation will make this job easier.<br />Park Se-young has more.<br />This company transferred 18-thousand U.S. dollars to the wrong account by mistyping the account number.<br />It couldn't get that money back.<br />With the expansion of mobile banking services and online businesses, ...more money is getting lost through such mistakes.<br />According to data by the Financial Services Commission, ...there were 158-thousand wrong remittance cases in 2019, worth around 290 million U.S. dollars in total.<br />Of that, 140 million dollars from some 82-thousand cases has not been returned.<br />Starting next July, a support system will help people get their money back.<br />At the request of the sender, ...the Korea Deposit Insurance Corporation asks the receiver to return the wrongly transferred money.<br />And if necessary, it will collect the money through a court payment order.<br />Once the money is collected, ...the corporation deducts related charges and returns the remaining amount to the sender.<br />It takes about six months for people filing their own lawsuits to get their incorrectly sent money back.<br />But with the help of the KDIC, ...the process is expected to take less than two months.<br />"The law was passed on December 9th this year, and detailed procedures and regulations will be prepared through consulation. Above all, it's important to prevent mistakes during transactions."<br />The KDIC will receive applications for help starting next July.<br />Until then, people are advised to take extra care during transactions.<br />Park Se-young, Arirang News.<br />

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