[Alpha Biz=(Chicago) Reporter Kim Jisun] Internet banks will not receive ATM fees next year. Financial consumers using Internet banks can use deposit and withdrawal and transfer services at ATMs installed in convenience stores or banks without fees.

According to the financial sector on the 4th, Kakao Bank will extend the ATM fee exemption period by one more year from the end of this year to the end of next year. All ATM transactions, including deposits, withdrawals and transfers, can be used at all ATM devices across the country, including banks and convenience stores, without fees.

K-Bank has decided to extend the ATM fee exemption period for another six months until June 30 next year. Deposit and withdrawal and transfer transaction fees will be exempted from GS25 convenience stores and bank ATM devices nationwide.

Since its launch, Kakao Bank and K-Bank have extended the ATM fee exemption period every six months or a year. Since the start of operations in April 2017, K-Bank has implemented free ATM fees for GS25 convenience stores nationwide and free ATM fees for all banks from January 2019.

Kakao Bank exempted ATM fees from the start of customer operations in July 2017. Since Kakao Bank was launched, ATM fees exempted until the end of last month amounted to about 310 billion won.

Toss Bank also does not receive convenience store and bank ATM fees from the beginning of its launch. Toss Bank does not have a deadline for the ATM fee exemption.

Commercial banks, on the other hand, charge a fee of 500 to 1,000 won depending on the bank when withdrawing from the ATM after business hours.

The prepayment fee, which was exempted for two years from October 2021 when Toss Bank was launched to the end of October this year, is estimated to be about 28.1 billion won. Kakao Bank has not received prepayment fees of about 130 billion won since its launch in 2017 until the end of last month.

Meanwhile, major banks will also exempt prepayment fees for household loans for a month until the end of the year. KB Kookmin, Shinhan, Woori, Hana, NH Nonghyup and Industrial Bank of Korea have decided to exempt prepayment fees for all household loans for one month from the 1st to the end of the year.

 

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