KB Kookmin Bank is running a campaign that allows customers to search at once for dormant deposits and insurance payouts held at about 100 domestic financial institutions and receive refunds. Searches and refund applications can be made through KB Star Banking, and dormant deposits with balances of 300,000 won or less are paid automatically without a separate application.

KB Kookmin Bank said on Monday it will run the “Find Hidden Financial Assets” campaign through Aug. 31 to support refunds of consumers’ unclaimed financial assets.

The campaign was set up to help customers check and receive refunds for dormant deposits and insurance payouts left unclaimed due to long periods without transactions.

Customers can use KB Star Banking’s “Find Dormant Deposits and Insurance Payouts” service to check at once for dormant deposits and insurance payouts held at about 100 domestic financial institutions. If they apply for a refund, the money will be deposited into a KB Kookmin Bank account in their name.

For dormant deposits with balances of 300,000 won or less, KB Kookmin Bank is providing automatic refunds into a KB Kookmin Bank account in the customer’s name even without a separate application. In the first half of this year, it automatically refunded dormant deposits from about 20,000 accounts.

A KB Kookmin Bank official said, "We hope this will be an opportunity for customers to check and reclaim financial assets they had forgotten about."