Today, I will post on the topic of refunds for erroneous remittances.
With the development of smartphones, mobile banking has become a trend. Looking at recent trends, the remittance process has become easy and convenient using simple patterns or biometrics, no longer requiring complicated authentication processes like in the past. As a result, erroneous remittances continue to increase. While the number of erroneous remittances in 2017 was 2,197, in the first half of 2021 alone (January to June), the number of erroneous remittances through Toss, Kakao Pay, and Naver Pay has increased significantly to 11,176 cases.
If you make a remittance by mistake, it is very difficult to get your money back. If you made a transfer by mistake, you contact the bank, but all they can do is tell you to return the money to the recipient. If the recipient refuses to return the money, it could lead to a payment order or even a lawsuit, so most people give up. Because of this problem, the Korea Deposit Insurance Corporation provides a support system for returning erroneous remittances.
Today, we will take the time to learn about the error remittance return support system.
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1. Return support procedure for erroneous remittance
2. Precautions when applying for return support for erroneous remittance
3. Apply for return support for erroneous remittance
1. Return support procedure for erroneous remittance
① If the recipient of the erroneous remittance does not voluntarily return the money during the pre-refund stage through a financial company such as a bank, the erroneous remitter will apply for return support from the Deposit Insurance Corporation. If you are eligible for support, the Korea Deposit Insurance Corporation will purchase a claim for refund of unjust enrichment from the erroneous remitter.
②The Deposit Insurance Corporation secures the address and contact information of recipients of erroneous remittances through the Ministry of the Interior and Safety, financial companies, telecommunication companies, etc.
③The Korea Deposit Insurance Corporation recommends voluntary return to the recipient to recover the erroneous remittance based on the secured address and contact information.
④If the recipient of the erroneous remittance does not voluntarily return the money, recovery will be processed through a court order for payment.
⑤ When recovery is completed, the amount of the error remitted minus the recovery-related costs will be paid to the person who sent the error.
2. Precautions when applying for return support for erroneous remittance
You can only apply for return support for erroneous remittances that occurred after July 6, 2021, and you can only apply for return support for erroneous remittances within one year from the date of the erroneous remittance.
It can be used when a refund request has been made through a financial company such as a bank, but the refund has not been received.
It can only be used if the remittance amount is in error between KRW 50,000 and KRW 10 million.
It can be used only if there are no legal proceedings, such as lawsuits, in progress related to erroneous remittance.
It cannot be used for remittances resulting from fraud such as personal commerce or voice phishing.
Upon completion of recovery, the amount of the erroneous remittance minus the recovery-related costs will be paid to the sender in error.
3. Apply for return support for erroneous remittance
Applications for return of erroneous remittances can be made by the person or agent. Applications can be made not only online but also in person.
In-person registration is open from 9:00 to 18:00 on weekdays.
https://kmrs.kdic.or.kr/ko/index.do
KDIC Deposit Insurance Corporation | Erroneous remittance return support service
CEO Open Plaza Starting July 6, 2021, the Korea Deposit Insurance Corporation will implement a return support system for erroneous remittances to help with the difficulties experienced by those who made erroneous remittances. The money sent by the sender by mistake is promptly resolved in cooperation with the relevant authorities.
kmrs.kdic.or.kr
Click on the address above to go to the ‘Deposit Insurance Corporation’ website.
Click ‘Apply for return support’ in the ‘Error remittance sender’ tab at the top. Login is required, so please be sure to log in.
After answering the items to check if you are eligible for application, click ‘Request for Return Support’.
Afterwards, fill in your personal information, date, and deposit details to complete the process.
Above we have learned about the erroneous remittance return support system. You would be very upset if you lost your hard-earned money by sending money by mistake. If you are eligible for refund support for erroneous remittances, please be sure to apply for support and receive your money back. I hope this post is helpful. thank you for reading. I will come back with more quality posts next time.