“The Financial Supervisory Service has informed that if a mistaken transfer is made to an account that is under a third party’s seizure, the amount might not be refundable by the bank.
The Financial Supervisory Service analyzed cases of complaints and disputes from the fourth quarter of last year and announced consumer advisories containing such information today (11th).
According to the Financial Supervisory Service, Mr. A mistakenly transferred 600,000 won, intended as construction payment, to Mr. H and requested the bank for a refund. However, the bank refused, stating that the mistakenly transferred amount had already been offset against a loan Mr. H had taken out, leading Mr. A to file a complaint with the Financial Supervisory Service.
The Financial Supervisory Service explained, ‘The court has previously ruled that in special situations, such as when a third party’s seizure is imposed on the recipient’s bank account, the bank’s offsetting of the mistakenly transferred amount against the loan claim is valid,’ adding that ‘if you mistakenly transfer to an account under seizure, you may not be able to retrieve it.’
Additionally, the Financial Supervisory Service explained that if a fourth-generation indemnity insurance subscriber accumulates past medical expenses and claims them all at once, the premium for the next term may increase if the total insurance payout exceeds 1 million won.
The Financial Supervisory Service stated, ‘The terms of the fourth-generation indemnity insurance specify that contracts with annual non-covered insurance payouts exceeding 1 million won are subject to a tiered premium increase from steps 3 to 5.’
Furthermore, it was advised that medical aid recipients are eligible for a premium discount from the time of qualification, and that FIMS (Functional Intramuscular Stimulation) treatment typically results in outpatient medical expenses (around 300,000 won) rather than inpatient medical expenses.
(Photo provided by the Financial Supervisory Service, Yonhap News)”