The daily transfer limit is 300,000 won? When you first open an account at any bank, it will be opened as a limited account with limited daily withdrawal and transfer limits. This is a policy to prevent voice phishing or the opening of cannon accounts, and restrictions can be lifted only when certain conditions are met. The same goes for Kookmin Bank, but when you first open an account, it is opened as an account with a limited limit. Let’s take a look at the conditions for canceling a Kookmin Bank limited account account in detail on how to cancel it.국민은행 한도제한계좌 해제
The current daily withdrawal and transfer limits for Kookmin Bank limited accounts are as follows.
Daily withdrawal limit at the counter: KRW 1 million
Check card ATM withdrawal and transfer limit: 300,000 won
Internet banking, phone banking, and Live Send daily transfer limit: 300,000 won each
There are three ways to lift the above restriction: visiting the branch with supporting documents, lifting it at the branch after meeting the transaction conditions, and lifting it in a non-face-to-face manner. Let’s look at the conditions in turn.
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If you have proof, you can immediately lift the limit.
How to cancel without proof
Criteria for canceling non-face-to-face limit accounts
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If you have proof, you can immediately lift the limit.
When opening a bank account, you will be asked for the purpose of opening, but the required documents vary depending on the purpose of opening. If you want to lift the limit, you must prepare documents according to the purpose of opening the account.
Purpose of receiving salary: Certificate of employment, earned income withholding receipt, pay slip, employment (salary) contract
Purpose of receiving pension: Pension certificate (confirmation of beneficiary), etc.
Purpose of receiving part-time wages: employer’s business registration certificate (copy), employment contract, pay slip, etc.
New business (individual/corporation) Purpose: Business lease agreement, business website, portal site road view, signboard photo, office furniture purchase receipt, materials issued by start-up related organizations, etc.
Existing business (individual/corporation) Purpose: Product supply contract (invoice), tax invoice, financial statement, value-added tax certificate, tax payment certificate, etc.
Purpose of the meeting account: Proof of the meeting, such as member list, bylaws, etc.
Purpose of automatic transfer of utility bills and management fees: utility bill payment receipts, management fee receipts, etc.
Purpose of research fund account: research fund contract, payment organization business registration certificate (or certificate)
Purpose of child allowance, childcare allowance: application for welfare benefit account, application for change of welfare benefit account, etc.
Other supporting materials confirming the purpose of establishment
If you have the above evidence, you can submit the documents to the Kookmin Bank counter and immediately request cancellation of the limit account (bring your ID).
If you bring supporting documents with you when opening an account in the first place, you can cancel it right away.
How to cancel without proof
The method to cancel a Kookmin Bank limit account without the need for supporting documents is as follows.
When transferring salary over 500,000 won per month for more than 3 months (national treasury, Giro, CMS, salary transfer date)
When paying for KB Card usage for more than 3 months using Kookmin Bank account
Automatic payment of more than 3 utility bills per month for more than 3 months (apartment management fee, Giro, CMS, firm banking)
If you are a business owner, you have received credit card payments from affiliated stores for more than 3 months.
When receiving a pension for more than 3 months (receiving national pension, civil servant pension, private school teacher pension, military pension, veterans’ pension)
This method does not require any supporting documentation, but you will need to wait at least 3 months to have the restriction lifted. To cancel a limit account, you must visit a Kookmin Bank branch in person with your ID.
Criteria for canceling non-face-to-face limit accounts
There is a non-face-to-face way to lift your limit without having to visit the branch in person.
1. KB Star Club MVP, Royal level or higher
KB Star Club is a service that divides users into levels based on transaction performance and provides differentiated benefits. The transaction performance of all products belonging to KB Financial Group, including banking, insurance, cards, securities, etc., is reflected.
KB Star Club Rating
Scores are given based on KB Financial Group’s transaction performance, and if you reach Royal Star status with over 4,000 points, you can unlock the restricted account.
Scores are assigned for each item: 10 points per 100,000 won for simple deposits, 500 points for salary transfers of more than 2 months, 200 points for KB card payments, etc. Detailed trading performance scores can be found here. ▶Information on KB Star Club selection criteria
2. Salary transfer of more than 1.5 million won to Kookmin Bank account for 3 consecutive months
You can lift the limit by using your Kookmin Bank account as a salary transfer account. Although this method is the most convenient. You can ask the company to change your salary account and cancel it as soon as you receive salary for 3 months.
3. Received pension of 500,000 won or more for 3 consecutive months
If you are a pension recipient, you can cancel your account limit if you receive a pension of 500,000 won or more for 3 months. Likewise, it is convenient to change your pension account.
4. Stock trading more than a certain number of times using the KB able Plus account
The KB Able Plus account is an account that allows you to conduct banking and securities transactions at once. Normally, you purchase stocks after depositing money from the bank to a securities company, but using this account, you can purchase stocks right away. This product provides additional profits by managing securities purchase funds excluding consignment margin through CMA RP. If you make stock transactions more than a certain number of times with this account, you can unlock the account limit.
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The method of releasing a limited account at Kookmin Bank is a bit more complicated than other places. In the case of internet banks, it is released immediately after verifying your identity, but with Kookmin Bank, you have to prepare documents and visit the branch in person, which is inconvenient.
However, I think that Kookmin Bank still has the highest reliability in Korea because it has set such strict standards. It’s inconvenient, but I think it’s worth the time because once you turn it off, you’ll be using it for life.