Viva Republica, operator of the Toss app, introduced a service that allows users to check and retrieve dormant deposits scattered across multiple financial institutions at once through the app.

Toss said on Thursday it launched the "Dormant Deposit Recovery" service with the Korea Inclusive Finance Agency.

The service enables users to check dormant deposits held across multiple financial institutions in the Toss app and apply remotely without submitting separate documents or visiting institutions. The requested amount can be received immediately as Toss Pay Money.

Dormant deposits are deposits transferred by financial institutions to the agency because there have been no transactions for a long period. Depositors can reclaim their deposits at any time, but the rate of checking or applying directly has been low when amounts are small.

Toss used MyData for the service. Users can search for "dormant deposits" in the All tab of the Toss app or access the service via a notification, then check a list of dormant deposits in their name and the amounts. They can then apply by choosing Toss Pay Money as the payment method.

Once an application is completed, the agency deposits the amount into a virtual account in the user's name, and Toss converts it into Toss Pay Money for payment. Payments are made only through the Toss Pay Money top-up method.

The service covers dormant deposits of 500,000 won or less. If a person has multiple dormant deposits, they can apply for each case separately. Dormant deposits that have already been claimed cannot be claimed again.

The service was 마련됐다 through cooperation among Toss and related institutions, including the agency, the Korea Credit Information Services and the Korea Financial Telecommunications and Clearings Institute. Toss is responsible for the user interface, receiving applications, and processing and operating Toss Pay Money payments. The agency handles MyData linkage for checking dormant deposits, applying and confirming results, as well as making the actual deposit transfer.

A Toss official said, "In many cases, money that should return to its owner remains dormant because people do not know the procedures." The official added, "By bringing scattered information together based on MyData, we were able to provide practical help to the public. We will continue to introduce related services."