Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information
What is KEB？
KEB (Korea Exchange Bank) is a financial institution based in South Korea that offers a wide range of banking services to cater to the needs of its customers. They provide various account options tailored to the specific requirements of different clients. Additionally, they offer a comprehensive Security Program to ensure the safety and confidentiality of clients' personal and financial information. However, it's important to note that as of now, KEB may not have valid regulation or government/financial authority oversight for their operations. This lack of oversight can potentially pose risks for those considering investing with them.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
KEB Alternative Banks
There are many alternative banks to KEB depending on the specific needs and preferences of the trader. Some popular options include:
Access Bank – A wholly-owned subsidiary of Access Bank, a global private bank that commenced operations in 2013 and specializes in providing solutions in trade finance, commercial banking, and asset management.
AXIS BANK - A wholly-owned subsidiary of AXIS BANK LTD., India's third-largest private sector bank, offering a range of financial services to customer segments covering Large and Mid-Corporates and Retail businesses.
EC Investment Bank – A bank that offers a broad array of banking, financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.
Is KEB Safe or Scam？
KEB currently has no valid regulation, which means that there is no government or financial authority oversighting their operations. It makes investing with them risky.
If you are considering investing with KEB, it is important to do your research thoroughly and weigh the potential risks against the potential rewards before making a decision. In general, it is recommended to invest with well-regulated banks to ensure your funds are protected.
Services
KEB (Korea Exchange Bank) offers a wide range of banking services to cater to the needs of its customers. Some of the services it offers include:
You can inquire about your account balance, transaction history, and other related information through various channels such as online banking, mobile apps, or by visiting a branch.
KEB allows you to transfer funds between your own accounts or to other accounts within the bank. You can make transfers through online banking, mobile banking, or by visiting a branch.
You can conveniently pay your utility bills such as electricity, water, and gas bills through KEB's banking services. This helps you avoid the hassle of visiting multiple payment centers.
KEB provides deposit trust services, which include various types of deposit accounts and investment products. These allow you to earn interest on your deposited funds while keeping them safe.
KEB offers different types of loans to individuals and businesses, including personal loans, home loans, car loans, and business loans. You can apply for a loan based on your specific requirements and eligibility.
KEB provides foreign trust services that cater to the needs of customers who have assets or investments abroad. These services help manage and protect your assets in foreign markets.
If you need to send money internationally, KEB offers overseas remittance services. You can transfer funds to other countries securely and conveniently through the bank.
Accounts
KEB offers a diverse range of accounts to cater to the specific needs of different clients. Here are some of the account types that KEB provides:
N°N (Number N) Account: It is a unique account that aims to provide flexibility and convenience. It offers various features such as cash management, investment options, and preferential interest rates.
YES Keungippeum Deposit Account: This account is targeted towards young customers and offers benefits such as preferential interest rates, flexible transaction limits, and other youth-oriented features.
Foreign Currency Deposit Account: KEB provides accounts denominated in foreign currencies such as US dollars, euros, Japanese yen, etc. This allows you to hold and manage funds in different currencies.
It's worth mentioning that the specific features, requirements, and terms may differ for each account type. To get detailed information about these accounts, it's best to directly contact KEB or visit their official website.
Customer Service
Customers can visit their office or get in touch with customer service line using the information provided below:
Telephone: 82-42-520-2500-8
1588-3555 (Internet Banking Consultation)
1544-3000, 1588-3500, 02-3709-8586 (Banking Consultation)
Also, KEB provides a Frequently Asked Questions (FAQ) section on their website to assist their clients with commonly asked questions and provide relevant information. The FAQ section aims to address common queries and concerns that investors may have regarding the company's services, processes, and investment opportunities.
Besides, KEB offers different service hours according to types and transaction. Here are the details of the service hours:
| Type |
Transaction |
Service Hours |
| Weekday |
Saturday (Bank Holidays) |
Holidays |
| Deposit Account |
Inquiries |
24 hours a day, 365 days a year |
| Cashier‘s Check Inquiry (Hana Bank) |
| Cashier’s Check Inquiry (Other Bank) |
08:00~23:00 |
08:00~23:00 |
08:00~23:00 |
| Open Deposit |
24 hours a day, 365 days a year |
| Terminate Deposit Account |
09:00~22:00 |
Unavailable |
Unavailable |
| Pay Savings/Installment |
24 hours a day, 365 days a year |
| Pay Trust |
00:00 - 24:00(Available deposit time may vary.)Base price product(Passbook account number ending in 57) 10:00 - 24:00 |
Unavailable |
Unavailable |
| New/Repurchase CollectiveInvestment Securities |
09:00~17:00 |
Unavailable |
Unavailable |
| Transfer |
Intra-bank Transfer |
24 hours a day,365 days a year.Virtual account deposits are not available during settlement hours(23:40 - 00:20 and 16:30 - 16:35). |
| Inter-bank Transfer |
24 hours a day, 365 days a year(Transactions are not available between 23:50 and 00:05 when the Korea Financial Telecommunications and Clearings Institute settles accounts) |
| Scheduled Transfer (Hana Bank) |
24 hours a day, 365 days a yearScheduled transfers are not available between 23:50 and 00:05 when the Korea Financial Telecommunications and <br />Clearings Institute settles accounts and when the actual transfer date falls on a holiday including Saturdays. |
| Scheduled Transfer (Inter-bank) |
| Collective Investment Securities Deposit |
09:00~17:00 |
Unavailable |
Unavailable |
| Check Transfer History |
24 hours a day, 365 days a year |
| Credit Card |
Inquire Card Ownership Data |
24 hours a day, 365 days a year |
| Review Payment Records and Transaction Limits |
| Cash Advance |
| Visa Secure Payment Service |
| View Prepayment History |
| Prepayment/Cancellation |
09:00 ~ 21:00 |
Unavailable |
Unavailable |
| Cash Advance of Overdue Amount |
09:00 ~ 16:00 |
Unavailable |
Unavailable |
| Get Replacement Card |
24 hours a day, 365 days a year |
| Apply for Additional Traffic Features |
| Loan |
Inquire |
24 hours a day, 365 days a year |
| Interest Payment |
08:30 ~ 23:30 |
Unavailable |
Unavailable |
| Repayment |
08:30 ~ 23:30 |
Unavailable |
Unavailable |
| Deposit-Secured Loan |
09:00 ~ 17:00 |
Unavailable |
Unavailable |
| Card Loan |
24 hours a day, 365 days a year |
| Automatic Transfer |
Register/Inquire/Cancel Automatic Transfer |
24 hours a day, 365 days a year |
| Pay Utility Bill |
Giro |
00:30 ~ 22:00 |
| Local Tax |
| National Tax |
| Tariff |
00:30 ~ 22:00 |
| Living Expenses/Fees |
00:30 ~ 22:00 |
| Social Insurance Premium |
07:00 ~ 22:00 |
| Penalty Payment |
00:30 ~ 22:00 |
| Funds and Other Taxes |
00:30 ~ 22:00 |
| University Tuition |
09:00 ~ 16:30 |
Unavailable |
Unavailable |
| Change Personal Information |
Change Customer Information |
24 hours a day, 365 days a year |
| Change Password |
| Change Transfer Limit |
| Change Email Service |
| Change Withdrawal Account |
| Report Loss |
Report a Lost Passbook, Seal, or Cash Card |
24 hours a day, 365 days a year |
| Report Lost Keycard Lock |
| Credit Card Lost Report |
| Report Cashiers Check Loss |
| Foreign Exchange |
Inquiries |
24 hours a day, 365 days a year |
| Overseas Remittance |
00:10 ~ 23:40 |
| Designate an FX Transaction Bank |
09:00 ~ 16:00 |
Unavailable |
Unavailable |
| View Designated FX Transaction Bank |
24 hours a day, 365 days a year |
| Transfer between Foreign Currency Accounts |
24 hours a day, 365 days a year |
| Foreign Currency → Korean Won Transfer |
09:00 ~ 16:00 |
Unavailable |
Unavailable |
| KRW→Foreign Currency Transfer |
09:00 ~ 16:00 |
Unavailable |
Unavailable |
| Other Associated Work |
View Various Corporate Payment Bonds |
24 Hours |
| Apply Account Receivable Secured Loan |
08:00 ~ 19:00 |
Unavailable |
Unavailable |
| Apply for Purchasing Card Pre-Deposit |
08:00 ~ 16:30(3rd-party bank account 15:30) |
Unavailable |
Unavailable |
| Register Purchase Loan Collection |
08:00 ~ 18:00 |
Unavailable |
Unavailable |
| Purchase Loan Acquisition / Payment / Deposit |
08:00 ~ 18:00 |
Unavailable |
Unavailable |
| SK Energy Collection |
24 hours a day, 365 days a year |
| Mileage |
Mileage |
24 hours a day, 365 days a year |
| Online Customer Service Center |
Online Counseling |
09:00 ~ 18:00 |
Unavailable |
Unavailable |
| Mobile Banking |
Inquiry, Transfer, and Credit Card Services |
Same as Internet Banking |
Conclusion
In conclusion, KEB is a financial institution in South Korea that provides a wide range of banking services. They offer various account options and a Security Program. However, it should be noted that there may be a lack of valid regulation or government/financial authority oversight for KEB's operations at the moment. This absence of oversight may introduce certain risks for potential investors or clients. It is important for individuals to evaluate these risks carefully and seek appropriate guidance before engaging in any investment activities with KEB.
Frequently Asked Questions (FAQs)
