What is the 20-day limit to open a non-face-to-face account?
This is a system to restrict the opening of multiple accounts in a short period of time. This is a system introduced by the Financial Supervisory Service in March 20 to eradicate cannon bankbooks and prevent telephone financial fraud.
Therefore, you can only open one securities account within 20 business days.
Error message when opening an account with a 20-day limit
If you try to open an account at any bank or securities company after opening an account before 20 business days, it says that you cannot open an account after verifying your identity. I tried to open an additional account at KB Securities, but I couldn't create another account by making an account with another brokerage company because I was recently subscribed to an IPO.
From the error message, I understand that it is possible to open after the 20th business day, so when is it possible? I can't remember which bank or brokerage company when it was made, but the system gave this error message, so you should know how many days you can't open an account.
How to know when you can open a non-face-to-face account
There is a service provided by this error message as a way to know when you can open an account again.
You can use K-bank. When KB Bank tries to open an account, it will notify you when it is possible if you have opened an account within 20 business days.
If you have never opened a K-Bank account, you can install the app and start opening an account.
If you do not have a K-Bank account
- Download and install the KB Bank app
- Run the KB Bank app and tap 'Create K-Bank Account'.
- After you go through the account creation process, a message will appear if you have opened an account before 20 days.
If you have a K-Bank account
There is no 20-day limit for deposit accounts. So, you need to open a deposit and withdrawal account.
Even if other banks and securities apps have the 20-day limit, you can tell if the 20-day limit has been applied after you have verified your mobile phone identity.
- Open the Product Benefits tab on the K-Bank app and tap 'MY Deposit and Withdrawal Account'.
- Tap 'Join Deposit and Withdrawal Account'.
- If the 20-day limit is not applied, the account opening stage is entered, and if there is a limit, the following screen appears.
Overcoming Errors Usability Principles and Regulations
Generally speaking, errors are system or software errors. However, it is also called an error when the task that the user is trying to do is not performed.
One of the usability principles is called error recovery. When an error occurs, it tells the user what to do and how to solve it.
This is a usability principle that has been around since the late 1980s, and if you do it right, users will not feel frustrated, you can reduce customer center costs and achieve business goals.
There are cases in which marketing expenses are spent to increase account opening, but not what the service can do. This is partly because the creators, the marketing people, and the people who see the overall goal are different, and partly because the service makers don't know how to do it.
However, there may be other points.
In my experience, banks and securities apps don't tell me when they opened when they had a 20-day limit. Could it be that other banks or brokerages didn't show it because they really didn't know?
It may not be. This is because the Financial Supervisory Commission may have told you not to tell us when an account can be opened. If you tell them that, it will be convenient for the person who makes the cannon bankbook. Security and convenience are the relationship between the sword and the shield. I can't find any FSC guidelines for the 20-day limit, so I'm just guessing.
There may be another reason. Since finance is a regulated industry, it seems to be a conservative style, even without an explicit guide not to do it. Therefore, even if the FSC did not give a guide not to mark it, it may not have been marked in the industry atmosphere.
For services, users are important and usability is important, but there is no choice but to consider business interests, laws, and regulations.
In order to eradicate cannon bankbooks and voice phishing, there is a 20-day limit on non-face-to-face account opening. Convenience is not always the best. There are people at all times who take advantage of this.
Anyway, it is fortunate for users that there is a way to know when the 20-day limit will be lifted through K-Bank's account opening error message.