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KEB - Korea Exchange Bank : KEB introduces an ‘easy-one’ card for easier foreign currenc

03/05/2013 | 04:51am US/Eastern
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Makes overseas remittance possible at other banks' ATMs

Gift giveaway being held to celebrate every 50,000th easy-one transaction

Korea Exchange Bank (President & CEO Yun Yong-ro/ www.keb.co.kr) announced on February 14 that the Bank has developed an 'easy-one' foreign currency remittance Card, an exclusive service that enables foreign customers to wire money through the ATMs of KEB and other banks.

The 'easy-one' Card makes it possible for customers to access KEB's easy-one foreign currency remittance service from all banks' ATMs, because the card is linked to an account used exclusively for remitting foreign currency abroad.

Until now, some of KEB's foreign customers had to visit a branch to use their 'easy-one' remittance service to deposit funds to be wired overseas, after withdrawing cash from their account. This extra step stemmed from problems some customers faced in the process of using ATMs as well as language problems when trying to transfer funds to their easy-one account at non-KEB ATMs.

With the launch of the 'easy-one' Card, however, customers no longer have to visit a branch and can easily transfer funds to their home country from any Korean banks' ATMs, making the service of significant benefit to customers in terms of added convenience through time saved.

Customers who are registered for the 'easy-one' foreign currency remittance service are eligible for an 'easy-one' Card and can obtain one at no charge at any KEB branch. The deposit limit is set at 17.5 million won (100,000-won checks can be included) per transaction at KEB ATMs and 1 million won per transaction at other bank's ATMs (cash only). There is no daily deposit limit.

To celebrate the 'easy-one' Card's launch, a Customer Appreciation event is under way that will award gifts to every 50,000th customer of the 'easy-one' service, including 200,000 won Gift Cards and 30,000 won culture gift certificates. Gifts will also be given to the five customers before and after every 50,000th customer. The giveaway runs through March, when the number of customers using the 'easy-one' service is expected to reach 2.5 million. Afterward, one gift certificate worth 1 million won will be awarded to the customer who makes the 3 millionth 'easy-one' remittance.

An official in KEB's Trade & Services Division said: "The 'easy-one' FC remittance card was carefully developed by KEB, a bank specializing in foreign exchange, to improve foreign customers' convenience by reflecting their needs." He added that "KEB will do its best to maintain its position as a leading bank in the foreign exchange business by developing and launching convenient overseas remittance services for foreign customers."

KEB has offered the 'easy-one' foreign currency remittance service since 2007. It is the bank's patented service that enables customers to automatically wire funds in a foreign currency by depositing funds, in Korean won, into a designated foreign currency remittance account after registering the information required for overseas transfer. Foreign customers residing in Korea use the 'easy-one' service to wire money to their home country. As of the end of January 2013, more than 2.4 million easy-one transactions had been successfully completed, at an average pace of 60,000 per month.

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