Terms and Conditions for Financial Information Inquiry in Open Banking Joint Service

 

Article 1 (Application of Terms and Conditions)

These Terms and Conditions shall apply to individuals (hereinafter referred to as ‘Users’) who wish to check their financial information through the Services provided by User Institutions based on Open Banking Joint Service and HANPASS Co., Ltd. (hereinafter referred to as the ‘Company’).

Article 2 (Definition of Terms)

 ‘Open Banking Joint Service’ refers to all services on the standardized open API platform jointly built and operated by the financial sector and the e-finance industry to provide Fin Tech services smoothly by User Institutions.
 ‘User Institution’ refers to a company that has concluded a use agreement with Korea Financial Telecommunications & Clearings Institute (KFTC) on Open Banking Joint Service and received approval for use.
 ‘Financial information inquiry’ refers to the business of the Company providing financial information when a user requests to inquire about his/her financial information specified in Article 5 through the User Institution service.
 ‘Open Banking Relay Center’ means a facility operated by Korea Financial Telecommunications & Clearings Institute (KFTC) that establishes and operates the Open Banking Joint Service system and relays the Company and User Institution each other.

Article 3 (Application for Financial Information Inquiry)

 To inquire about his/her financial information, the User shall apply for financial information inquiry on the webpage or app provided by the User Institution or the Open Banking Relay Center, and the relevant information shall be delivered to the Company.
 The User shall provide consent in writing (including electronic documents with electronic signatures), ARS, call recording, etc. in accordance with Article 32 (1) of the Credit Information Use and Protection Act on a member-by-member basis when applying for financial information inquiry so that the Company can provide financial information to the User Institution through the Open Banking Relay Center.
 Users shall re-consent to the provision of financial information on a one (1) yearly basis in order to protect and manage their information.
 The Company shall manage the User's information in accordance with the provisions of the Personal Information Protection Act and the Credit Information Use and Protection Act, and the details thereof shall be in accordance with the provisions set forth in the Company's Personal Information Processing (Handling) Policy. The Company shall post the details of the Personal Information Processing (Handling) Policy on the homepage so that users can check it.

Article 4 (Hours of Financial Information Inquiry)

The hours of use for financial information inquiry shall be from 00:10 to 23:50, seven days a week.

Article 5 (Types of Financial Information)

The types of financial information that the Company provides shall be as follows:
1. Prepaid list inquiry: Real-time inquiry on the identifier (HANPASS Pay Money, etc.) and status information (application/subscription date, etc.) of the electronic prepayment means held by the user;
2. Prepaid linkage information inquiry: Real-time inquiry of the information about the account linked to recharge the electronic prepayment means held by the user (bank name/account number with consent for collection, transfer, withdrawal, and recharge standard information, etc.)
3. Prepaid balance inquiry: Real-time inquiry of information on the balance of the electronic prepayment means held by the user (user recharge amount, company accumulation amount, scheduled expiration amount, etc.;)
4. Prepaid transaction history inquiry: Real-time inquiry of transaction information of electronic prepayment means held by the user (transaction amount by case, balance after transaction, counterparty information, etc.)

Article 6 (Provision of Financial Information)

If the User requests the Company to provide financial information through the User Institution Service, the Company shall notify the details of the User's financial information to the Open Banking Relay Center without any other notice, and the Open Banking Relay Center shall provide the User's financial information to the User Institution based on the User's serial number.

Article 7 (Suspension of Financial Information Inquiry)

 The Company may suspend the inquiry of financial information in the event of unavoidable reasons such as failure and maintenance of Open Banking Joint Service related systems.
 If the Company suspends the inquiry of financial information pursuant to Paragraph , the Company shall notify in advance. Provided, that if it is unavoidably impossible to give prior notice, the Company may notify it afterwards.

Article 8 (Termination of Financial Information Inquiry)

 The User shall apply for the termination of financial information inquiry on the webpage or app provided by the User Institution or the Open Banking Relay Center, as applicable.
 If the user falls under any of the following, the Company shall notify the user by setting a reasonable period of time and may terminate the financial information inquiry if the reason is not resolved within such period: provided, that the Company may not notify the User if it is impossible to resolve the relevant reasons or if otherwise prescribed by relevant laws and regulations.
1. If the user has stolen another's information or registered false information;
2. If there is no inquiry request from the User Institution for more than one (1) year.
 If the Company terminates the financial information inquiry pursuant to Paragraph , the Company shall notify the User in advance, and the User may apply for objection.

Article 9 (Disclaimer)

The disclaimers in these Terms and Conditions shall be governed by the Company's Terms and Conditions for Electronic Financial Transactions.

Article 10 (Jurisdiction)

In the event of a dispute between the Company and the User regarding the financial information inquiry under these Terms and Conditions, the parties shall be bound by the provisions of the Civil Procedure Act as to the competent court.

Article 11 (Change of Terms and Conditions)

If the Company wishes to change these Terms and Conditions, the provisions of the Terms and Conditions for Electronic Financial Transactions shall apply.

Article 12 (Relationship with Other Terms and Conditions)

 In addition to these Terms and Conditions, the Terms and Conditions for Electronic Financial Transactions shall apply to financial information inquiries, and in the event of any differences, the provisions of these Terms and Conditions shall prevail.
 For matters not stipulated in these Terms and Conditions and the Terms and Conditions for Electronic Financial Transactions, the relevant laws and regulations, such as the Electronic Financial Transactions Act and the Credit Information Use and Protection Act, shall apply, unless there are other agreements.

Addenda <Enactment>

These Terms and Conditions shall take effect from July 15, 2021.