Refund by mistake remittance KRW 1.6 billion for 6 months

Performance of the error remittance refund support system. Provided by Deposit Insurance Corporation

The Korea Deposit Insurance Corporation announced on the 12th that it had returned 1.6 billion won (1,299 cases) to the sender during the six-month period that the error remittance return support system was implemented.

Forecast received applications of 7.723 billion won (5281 cases) from July 6 to the end of December last year, when the system started, selects 3.1 billion won (2227 cases) for support, and returns 1.64 billion won (1299 cases) to the sender and 1.46 billion won (928 cases) is in the process of being returned.

Among the 1.64 billion won and 1,299 cases returned, 1.594 billion won and 1277 cases were returned voluntarily by the beneficiary who received the forecast, and 46 million won and 22 cases were ordered to pay. A payment order is a measure that is issued through the court’s payment order procedure in response to the beneficiary’s refusal to request a forecast.

Forecast judged that 604 of the applications were under review and 2,450 were not. Accounts using criminal offenses such as voice phishing, accounts with legal restrictions such as remittance and seizure, and non-compliance with financial companies’ own return procedures were the reasons for not being eligible for support.

As for the amount of remittance by mistake, more than 100,000 won and less than 500,000 won accounted for 36.1% of the 1904 cases, and 84% were less than 3 million won. By age, 67.8% were in their 30s and 50s, 17.1% in their 20s, and 14.3% in their 60s. As for the remittance finance companies, banks accounted for the most at 81.9%, followed by simple remittance providers at 7.3% and local agricultural cooperatives and unit unions at 3.9%.

To use the refund support system in case of remittance by mistake, apply online ( or inquire at the Forecast Consultation Center on the 1st floor of Cheonggyecheon-ro, Seoul and the representative number (1588-0037).

A forecast official said, “We are developing a system that can apply for the refund support system for mistaken remittances by mobile, and we are also considering providing translations of related documents in English, Chinese, and Vietnamese.”

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