Seoul Bank Ends Some Fees
Seoul Bank said Monday that it would stop charging service fees for after-hours cash withdrawals at ATMs and for the cashing of a check in regions different from the one where it was issued.
The bank had been charging customers 300 won (23 cents) for cash withdrawals and 100 won for transfers made past the bank's normal operating hours. The bank also had been tacking on a service charge ranging from 400 won to 2,900 won when it cashed a check in a region different from the one in which it was issued.
The move follows the lead of Korea First Bank, which became the first commercial bank to scrap the fees for such transactions last September. "We removed the charges to ease the cost burdens of our customers and to encourage the use of ATMs," an official from Seoul Bank said.
with the Korea JoongAng Daily
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