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Finance
Shinhan Bank runs 100 percent exchange rate discount event for receiving trade remittances
Shinhan Bank said on Sunday it is running an event from April 20 offering a 100 percent exchange rate discount to small and medium-sized companies and sole proprietor customers when they receive trade remittances. The bank said the program is aimed at easing financial burdens and improving convenience for customers newly starting trade transactions or with no recent foreign exchange remittance history at Shinhan Bank. The event runs through Oct. 19 and applies to 23 currencies.
Finance
Toss Bank apologises for yen exchange rate system error, offers 10,000 won compensation for abnormal trades
Toss Bank apologised on March 16 for confusion and inconvenience caused by an error in its Japanese yen exchange rate notice system between 7:29 p.m. and 7:36 p.m. on March 10. The bank said an internal system that calculates posted rates based on exchange rate data received from an external institution did not operate normally during that time. It said it is checking the cause, strengthening verification and monitoring, and improving systems. It will pay 10,000 won for abnormal trades and provide vouchers if needed.
Finance
Toss Bank to cancel or correct yen exchange deals after half-price rate error
Toss Bank apologised to customers after mistakenly posting the Japanese yen exchange rate at about half the normal level. The bank said the error occurred from 7:29 p.m. on March 10 and lasted about 7 minutes during inspection and improvement work aimed at stabilising its foreign exchange system. It said it detected the issue through its abnormal-rate alert system, restored normal postings within about 7 minutes, and will correct or cancel yen exchange deals made during the period.
