This is a guide to Tossbank meeting bankbook benefits and how to open and cancel. On February 1, 2023, Toss Bank introduced the ‘Toss Bank Gathering Account’ that supports gatherings such as couples, friends, and clubs. The Tossbank meeting passbook is a meeting passbook that eliminates the number of people and provides a high interest rate of 2.3% per annum (before tax). As Toss Bank launched the Gathering Bankbook, it competed with the existing Kakao Bank Gathering Bankbook in the Gathering Bankbook sector. Below are the benefits of the Toss Bank meeting account and how to cancel the opening. 토스 모임통장 만들기
Basic information of Tossbank meeting bankbook
The Tossbank Gathering Bankbook is a Gathering Bankbook with no restrictions on the amount of savings and contract period. Any individual over the age of 17 with real name can sign up and it is a free deposit product opened to manage Gathering Membership Fees.
Classification contents
Individuals over the age of 17 with real names 비지니스헬퍼
No contract period limit
No limit on subscription amount
Interest Calculation Method Daily interest calculated by applying the contracted basic interest rate to the final balance of each day is added up and paid on the interest payment date (the 1st of each month). (Wonmiman cuts down)
Tax Benefits Non-taxable Comprehensive Savings
Basic interest rate of Toss Bank’s bankbook, interest payment method and calculation method
Even if you leave a Tossbank meeting passbook for one day, an annual interest rate of 2.3% (before tax) is applied. In addition, unlike other parking accounts, you can benefit from high interest rates without having to move funds to a separate space and tie them up so that withdrawals and payments cannot be made.
1. Interest payment method
– Interest is paid on the 1st of the following month based on the settlement of accounts as of the end of the month.
2. Interest Calculation Method
– Interest calculated daily from the interest payment date (the 1st of each month) to the day before the next interest payment date (the last day of the month) is paid.
– Daily interest: daily final balance x applied interest rate / 365
Toss Bank meeting room, meeting member, joint holder
1. Meeting room
“Meeting place” refers to the person who first opened a Toss Bank meeting account, and the meeting place cannot be changed.
2. Meeting members
“Meeting Member” refers to a customer who has installed the mobile app and registered as a member of Toss Bank, who has received a meeting invitation from an existing user and agreed to participate in the Toss Bank Gathering Bankbook service by agreeing to the Tossbank Gathering Bankbook Service Terms and Conditions. One can inquire information such as transaction history and balance of the meeting bankbook, and issuance of a Toss Bank meeting card (hereinafter referred to as a ‘meeting card’) using the meeting bankbook as a payment account and transfer and withdrawal transactions from the meeting bankbook are not allowed.
3. Joint holder
The term “joint nominees” means the following persons:
– Meeting room
– A person who can issue a meeting card, transfer and withdrawal transaction from the meeting bankbook through the real name verification procedure among the meeting members. However, in order for a member to become a joint holder, the consent of all joint holders must be obtained.
Benefits and Advantages of Toss Bank Gathering Bankbook
Toss Bank meeting bankbook benefits
Toss Bank is holding a meeting support fund event until the end of March to commemorate the release of the meeting passbook. Up to KRW 10,000 per person is provided as a support fund for meetings, including the first meeting room that opens a meeting passbook.
In addition, Tossbank has made it possible for anyone in a joint meeting room to receive a ‘meeting card’ in their name. In the meantime, only one card was issued per account, eliminating the inconvenience of payment. The Tossbank meeting card also provides cashback benefits for the main activities of the meeting, △ dinner (restaurants, pubs), △ play (karaoke, bowling alley, billiards, golf course), and △ shopping (E-mart, Nonghyup Hanaro Mart). Cashback benefits of 500 won per transaction for payments over 10,000 won and 100 won per transaction for less than 10,000 won are applied.
Within the three major areas, benefits are provided once a day and up to 5 times a month for each area, so you can receive immediate cashback benefits up to 15 times a month. This benefit will be available until the end of June this year.
Advantages of Tossbank meeting bankbook
The Tossbank meeting passbook has new features and high interest rates. Toss Bank noted that customers who have previously used the meeting bankbook feel uncomfortable with the structure in which one person monopolizes withdrawal, payment, and card issuance rights. There was a lot of pressure because the meeting room had to be responsible for the accounting alone, and since there was only one card, the convenience of paying the meeting fee was reduced.
The solution that Toss Bank paid attention to is the ‘joint meeting room’. Gathering halls, which are the first to open bankbooks, and ‘joint meeting halls’ can issue meeting cards in their names, as well as make payments and withdrawals. Members who have obtained the consent of the meeting head and completed the real-name verification process become a common meeting room, and can add a new joint meeting room at any time with the consent of the meeting chairman and the existing designated joint meeting room.
All meeting members belonging to the meeting account can easily invite other meeting members, so it is possible to quickly invite and operate meeting members as well as relieve the burden of the meeting room. There was a limit on the number of people who could sign up for a meeting passbook that was previously released, but the Toss Bank meeting passbook has removed the limit on the number of people who can sign up. From a small group of three or four people to a large group of various people, it can be operated with one account book.
How to open a Toss Bank meeting account
Anyone over the age of 17 can open a Toss Bank meeting account, and it can be easily opened through the Toss app. As preparations for opening, you need to prepare an identification card and a mobile phone with Toss App installed.
1. Run the Toss app
Run the Toss app on your mobile device such as Android/iPhone.
2. All Menus > Toss Bank > Find Products, Gathering Bankbook
After launching the Toss app, log in and select the All menu at the bottom right. Select the Toss Bank menu on the top left. Select the Find Products menu on the top right and select the Meeting Passbook menu in the middle of the screen.
3. Next > Create a meeting passbook > Agree to terms and conditions
Read the contents of the Toss Bank meeting bankbook and select the following menu at the bottom. Select the Create Meeting Passbook menu at the bottom. Agree to the terms and select the confirmation menu at the bottom.
4. Enter password > Take ID photo > Enter Toss App password > Open Toss Bank meeting bank account
Enter the password to be used for the Tossbank meeting passbook. Consecutive numbers such as 1234 cannot be used as passwords. After entering your password, take a picture of your ID. After taking your ID, you will need to enter your Toss App password again for confirmation. This completes the Toss Bank meeting account opening.
Toss Bank meeting passbook
How to cancel a Tossbank meeting passbook
Cancellation of Tossbank meeting passbook All payment transactions, such as card payment accounts, are canceled, and cancellation is possible only when there are no members of the meeting. After completing the above conditions, only the head of the meeting can cancel the Toss Bank meeting bankbook through the Toss Bank app.
Toss Bank meeting bankbook, financial transaction limit account, transfer limit, fee
To prevent financial accidents, the Tossbank meeting bankbook is opened as a ‘financial transaction limit account’, and the maximum transaction limit per day is limited until the purpose of financial transaction is confirmed. To lift the limit limit and switch to a general account, you must submit documents confirming the purpose of financial transaction through the mobile app. However, the type of documents to be submitted may be added or deleted by the bank.
In the case of a Tossbank meeting passbook, even if it is converted to a general account, the maximum transaction limit is 10 million won per day. Also, if you have a history of opening an account within 20 business days at a recent financial institution, you may be restricted from opening a new Toss Bank account.
※ Documents confirming the purpose of financial transaction
– (Employee) Health insurance qualification certificate or certificate of employment
– (Part-time job) Employer business registration certificate and employment contract
– Utility bills and receipts for electricity/water supply/sewerage/city gas, etc.
– Management fee bill and receipt
– Tax payment bills and receipts such as resident tax/property tax/car tax
※ Toss Bank meeting bank transfer limit
Category Financial transaction limit account
(Age 19 or older) Financial transaction limit account
(Under 19 years of age) Financial transaction limit account
(Foreigner) General Account
Mobile App Transfer Up to KRW 2 million per day Up to KRW 1 million per day Up to KRW 300,000 per day Up to KRW 10 million per day
ATM Withdrawal Up to 2 million won per day Up to 1 million won per day Up to 300,000 won per day Up to 6 million won per day
ATM Transfer Up to KRW 2 million per day Up to KRW 1 million per day Up to KRW 300,000 per day Up to KRW 10 million per day
※ Tossbank meeting passbook transfer fee
Tossbank customers are exempted from all bank and other bank transfer fees, direct bank and other bank transfer fees, and ATM (all banks, convenience stores, etc.) deposit, transfer, and withdrawal fees.
Toss Bank Gathering Bankbook Precautions
– Interest income and withholding tax generated from the Toss Bank meeting passbook belong to the meeting place.
– Although one of the joint holders has a debt to the bank and there is a reason for offsetting, this account is excluded from the subject of offsetting the debt.
– When adding a joint holder to a meeting passbook, the consent of all other joint holders, including the party, is required.
– If one of the joint holders dies and is reported to the bank, the withdrawal from the meeting bankbook is suspended, and the inheritance procedure is processed with the consent of all joint holders, and the consent of all joint holders cannot be obtained in relation to the inheritance procedure. All of the depositees can be jointly named and deposit the entire amount of the bankbook deposit.
Toss Bank Gathering Bankbook Frequently Asked Questions
Q. How can a member withdraw money from their bankbook or create a meeting card?
A. Members need permission to make withdrawals or create meeting cards. Permissions can be obtained if all other joint nominees agree. Tossbank bankbook and real name verification are required when receiving authorization. If you receive permission, you can become a co-name of the meeting account and withdraw money. To create a meeting card, the consent of the co-owners is required once more.
Q. Who receives the meeting support fund?
A. Both the meeting room and the meeting members can receive it once per person. If you have received a meeting support fund, you cannot receive a meeting support fund from a meeting account that you participate in later. If you make a meeting passbook, you can receive support money. Members of the meeting can receive support funds by opening the invitation to the meeting bankbook sent by the president and participating in the meeting bankbook.
Q. Is it possible to apply for automatic transfer of the Toss Bank meeting account?
A. Toss Bank meeting bankbooks cannot be used for direct transfer between accounts or for withdrawal accounts from other financial institutions, and Giro/CMS/Pumbang