The purpose of these terms and conditions is to establish basic matters regarding electronic financial transactions between users and the Bank when users use the issuance and management service of electronic payment means and the electronic payment agency service (hereinafter collectively referred to as “Electronic Financial Transaction Service”) provided by Busan Bank Co., Ltd. (hereinafter referred to as “Bank”).

The definitions of terms used in these terms and conditions are as follows.

1. “Electronic financial transaction” refers to a transaction in which a Bank provides electronic financial transaction services through electronic device and users use them in a non-facing and automated manner without any direct contact with employees of the Bank.
2. “Electronic device” refers any device used to transmit or process electronic financial transaction information by electronic means such as a cash dispenser, automatic teller machine, debit terminal, computer, telephone, or other devices that transmit or process information by electronic means.
3. “Electronic payment means” refers to means of payment using electronic means as defined in Article 2 Paragraph 11 of the Electronic Financial Transactions Act such as electronic prepayment means and check cards.
4. "Electronic prepayment means" refers any certificate or information on such certificate issued with transferable monetary values stored by electronic means and used to pay for the purchase of goods or services from a third party other than the issuer in accordance with the Electronic Financial Transactions Act.
5. “Electronic payment transaction” refers to an electronic financial transaction in which a person giving funds (hereinafter referred to as “Payer”) causes a Bank to transfer funds to a person receiving funds (hereinafter referred to as “Payee”) using electronic payment means.
6. "Electronic payment settlement agency service" means any service to transmit or receive payment settlement information in purchasing goods or using services by electronic means or to execute as an agent or mediate the settlement of prices thereof.
7. “User” refers to a person who uses the electronic financial transaction service provided by the Bank and can be divided into members and non-members depending on whether or not they agree to these terms and conditions.
8. “Member” refers to a person who installs the application for electronic financial transaction, agrees to these terms and conditions, and uses the electronic financial transaction service provided by the Bank.
9. “Non-member” refers to a person who uses the electronic financial transaction service provided by the Bank without registering as a member by installing the application. The Bank posts these terms and conditions on mobile applications or Internet websites operated by the Bank so that non-member users can check the contents of the terms and conditions.
10. "Electronic document" refers to any information prepared, transmitted, received or stored pursuant to subparagraph 1 of Article 2 of the Framework Act on Electronic Documents and Transactions.
11. “Means of access” refers to means or information which is used to issue a transaction request in electronic financial transactions or to secure the authenticity and accuracy of users and the details of such transaction such as electronic cards or other electronic information equivalent thereto, digital signature generation information and certificates under the Electronic Signature Act, user numbers registered with Bank, biological of users and passwords required to use the above means or information as defined in Article 2 Paragraph 10 of the Electronic Financial Transaction Act.
12. “Transaction request” refers that the user instructs the Bank to process an electronic financial transaction in accordance with these terms and conditions.
13. “Error” refers to a case where an electronic financial transaction is not performed in accordance with these terms and conditions or the user’s transaction request without the user’s intention or negligence.
14. “Chain merchant” refers to a person other than a financial company or an electronic financial business entity who provides goods or services to users in transactions by electronic payment means such as electronic prepayment means in accordance with these terms and conditions.

1. Before the user uses the electronic financial transaction service, the Bank shall post the important contents of these terms and conditions on the mobile application screen or Internet website (hereinafter referred to as “application screen etc.”) so that the user can understand the important contents of these terms and conditions.
2. Upon the user's request, the Bank will issue a copy of these terms and conditions to the user by electronic document transmission, e-mail, facsimile transmission, postal mail or direct delivery (hereinafter referred to as “electronic document transmission etc.”).
3. When the Bank changes these terms and conditions, it shall notify users by posting the changed terms and conditions on the application screen etc. one month prior to the effective date. However, if the terms and conditions are urgently changed due to a revision of the law, the changed terms and conditions shall be posted on the application screen etc. and the user will be notified afterwards through methods such as sending an electronic document.
4. When the Bank issues a notice or notification pursuant to paragraph 3, it shall be accompanied by a notice or notification to the effect that “If the user does not agree to the change, the contract may be terminated within one month from the date of notification or receipt of the notice and if the user does not express its intention to terminate the contract, it shall be deemed to have agreed to the changed terms and conditions".
5. If the user does not express his/her intention to terminate the contract within one month from the date of receipt of the notice or notification in Paragraph 4, he/she is deemed to have agreed to the change in terms and conditions.

The electronic financial transaction services provided by the Bank under Article 4 (Composition and Contents of Electronic Financial Transaction Services) are as follows.

• Issuance and management service of electronic payment means
• Electronic payment means and gift certificate settlement agency service

1. In principle, the Bank provides electronic financial transaction services to users 24 hours a day, 365 days a year. However, it may be decided differently depending on the circumstances of the financial company or other payment method issuer.
2. If the suspension of the service is unavoidable due to the maintenance or inspection of information and communication facilities, other technical needs, or the circumstances of the financial company or other payment method issuer, the Bank may temporarily suspend the service after notifying the suspension of the service in advance through the application screen etc. However, in the event of unavoidable circumstances such as system failure recovery, urgent program maintenance, or external factors, the service may be suspended without prior notice.

1. When providing electronic financial transaction services, Bank may select the means of access to verify the user's identity, authority, and transaction request details.
2. When using the means of access, users may not transfer, lend, or delegate the use of the means of access to a third party or perform any act for collateral purposes such as a pledge unless there are Bank's consent or special provisions in the other laws. However, in the case of electronic prepayment means, the user may transfer it to a third party or take over from a third party.
3. Users shall not leak, expose, or neglects his/her means of access to a third party and shall exercise sufficient caution to prevent theft, forgery, or alteration of their means of access.
4. When the Bank receives notification from the user of the loss or theft of the means of access, the Bank shall be liable to compensate the user for any damages incurred by the third party as a result of the use of the means of access. However, the Bank will not be liable for any damage incurred before the user notifies the Bank of the loss or theft of the means of access.

1. The Bank shall create and preserve records that can track and search the contents of electronic financial transactions used by users or records that can confirm or correct errors in the contents.
2. The types of records and preservation period that the Bank shall preserve in accordance with the provisions of Paragraph 1 shall be in accordance with Paragraphs 3 and 4 of Article 8.

1. The Bank allows users to check their transaction details through the application screen etc. and users can also request issuance of transaction details in writing.
2. In the event that the Bank receives a request from the user pursuant to Paragraph 1 for the issuance of transaction details in writing but is unable to provide the transaction details due to the failure of the operation of the electronic device etc. the Bank shall immediately notify the user of the reason by sending an electronic document etc. and the period during which the transaction details cannot be provided due to the failure of the operation of the electronic device shall not be counted in the period of issuance of the transaction details in Paragraph 1.
3. Among the transaction details subject to Paragraph 1 the preservation period of 5 years is as follows.
   • The name or number of the electronic financial transaction account
   • Type and amount of electronic financial transaction
   • Information indicating the counterparty of the electronic financial transaction
   • Date and time of electronic financial transaction
   • Matters regarding user consent to withdrawal
   • Type of electronic device and information that can identify the electronic device
   • Fees received by Bank in return for electronic financial transactions
   • Access records of electronic device related to the relevant electronic financial transaction
   • Matters related to application for electronic financial transaction and changes to conditions
   • Records of electronic financial transactions with a transaction amount exceeding 10000 won per transaction
4. Among the transaction details subject to Paragraph 1 the preservation period of 1 year is as follows.
   • Records of small electronic financial transactions with a transaction amount of 10000 won or less per transaction
   • Records of transaction approval when using electronic payment means
   • Matters concerning the fact of the user's request for correction of errors and the result of processing
5. If a user wishes to request written issuance as specified in Paragraph 1 it can be issued after verifying identity at the Bank counter.
6. If a user becomes aware of an error in using the electronic financial transaction service the user may request the Bank to correct it in the manner specified in Paragraph 5 of this Article.
7. When the Bank receives a request for correction of an error the Bank will immediately investigate and process the request and notify the user of the result within 2 weeks from the date of receipt of the request for correction.

1. If the user's transaction request is related to an electronic payment transaction the Bank shall perform the payment procedure and transmits the contents of the transaction request related to the electronic payment transaction to ensure payment.
2. When a user pays funds using an electronic payment means the payment takes effect at the times specified in the following items.
   • When paying by electronic prepayment means: When information on the transaction requested amount reaches the electronic device designated by payee
   • When paying by other electronic payment means: When the information of the transaction requested amount has been entered into the electronic device of the financial institution where the payee's account is opened.
3. The user may withdraw the transaction request by sending an electronic document to the person in charge specified in Article 8 Paragraph 5 as stipulated in these terms and conditions until payment takes effect.
4. When electronic payment takes effect the user may receive a refund of the payment amount by withdrawing the subscription in accordance with relevant laws such as the Act on Consumer Protection in Electronic Commerce etc.

The Bank shall not provide leak information or data related to the user's personal information, user's account, means of access and the contents and performance of electronic financial transactions acquired in the process of providing electronic financial transaction services to a third party or use it for any purpose other than business purposes unless required by law or with the consent of the user.

The Bank shall be liable to compensate the user for damages incurred as a result of the forgery or alteration of the means of access, the accident in the process of electronic transmission or processing of the conclusion of a contract or transaction request, and accident caused by the use of an electronic device for electronic financial transactions or use of an means of access obtained by false or other fraudulent means by intruding into an information and communication network pursuant to Article 2 Paragraph 1 Subparagraph 1 of the Act on Promotion of Information and Communications Network Utilization and Information Protection Etc.

Notwithstanding Paragraph 1 the Bank may require the user to bear all or part of the responsibility for damages incurred by the user due to any of the following reasons.

1. If the user lends the means of access to a third party, delegates its use, or provides it for transfer or collateral purposes.
2. If the user leaks, exposes, or neglect his/her means of access even though he/she knew or could easily have known that a third party could use the user's means of access to make an electronic financial transaction without authorization.
3. In addition to the confirmation pursuant to Article 6 Paragraph 1 of the Electronic Financial Transactions Act, the Bank requested additional security measures during electronic financial transactions to strengthen security but the user refused the Bank's request without justifiable grounds resulting in an accident under Article 9 Paragraph 1 Subparagraph 3 of the Electronic Financial Transactions Act.
4. An accident pursuant to Article 9 Paragraph 1 Subparagraph 3 of the Electronic Financial Transaction Act occurs when a user commits any of the following acts with respect to media means or information used for additional security measures pursuant to Paragraph 5.
   • Leaking, exposing, or neglecting to a third party
   • Renting or delegating use to a third party
   • Transferring to a third party or providing it as collateral purpose

Notwithstanding Paragraphs 1 and 2 if there are other laws that may be advantageously applied to the user the Bank will apply those laws with priority.

In order to ensure the safety and reliability of electronic financial transactions the Bank complies with the standards set by the Financial Services Commission regarding the information technology sector and electronic financial services such as personnel, facilities, and electronic device for electronic transmission or processing for each type of electronic financial transaction.

Depending on the Bank's policy and the standards of the payment institution (credit card company, mobile carrier, etc.), the payment limit for each user's payment method may be limited.

1. The Bank may set a validity period of one year or more for the electronic prepayment means and users may use the electronic prepayment means only within the validity period set by the Bank.
2. The Bank announces whether the electronic prepayment means has an expiration date and the period through the application screen etc.
3. If the validity period set by the Bank is less than 5 years the Bank will inform you of the arrival of the validity period whether it can be extended and how to do so at least three times including a notification 7 days before the validity period expiration by sending a text message or electronic document.
4. In the case of electronic prepayment means whose validity period has elapsed but the statute of limitations in Paragraph 5 has not been completed the user may request the Bank to return the unused portion of the electronic prepayment means and in this case the Bank will refund 90% of the balance purchased or charged by the user. This Paragraph takes precedence over Article 15 Paragraph 1.
5. When 5 years have elapsed from the date of purchase or charge of electronic prepayment means the statute of limitations for commercial claims under the Commercial Act is completed and users cannot request the provision of goods refunds or return of balance to Bank etc.
6. Users may request an extension of the validity period from the business operator within the validity period and the issuer who receives the request will extend the validity period in three-month increments unless there are special reasons.

1. The user may request a refund for the balance of the electronic prepayment means and in the following cases the Bank will refund the entire balance of the electronic prepayment means without deducting a fee in accordance with the procedures set by the Bank. However if any of the following does not apply and the user simply changes his or her mind the refund may be refused or the refund may be made after deducting the fee.
   • In the event requesting a refund of the entire purchased amount within 7 days from the purchased date of the electronic prepayment means
   • If it is difficult for the chain merchant to provide goods or services due to natural disasters etc. and the use of electronic prepayment means is not possible
   • If a defect in electronic prepayment means prevents the chain merchant from providing goods or services
   • In the event requesting a refund of the balance after using more than 60% (80% or more in the case of 10000 won or less) of the balance of the electronic prepayment means normally purchased or charged for the purchase of goods or services based on the balance at the time of purchase or final charge (However gifting transfer point conversion etc. are not included in the above use).
   • In cases where the number of affiliates where prepaid electronic payment methods can be used is reduced or the terms of use of the prepaid electronic payment methods are changed to the disadvantage of the user; provided that this shall not apply if there are justifiable reasons as outlined below:
     • a. Closure of affiliate
     • b. Expiration of the affiliate contract period
     • c. Termination of the affiliate contract in accordance with Article 38, Paragraph 4 of the Electronic Financial Transactions Act
     • d. Termination of the affiliate contract in accordance with terms and conditions that include provisions for terminating the contract when the affiliate violates the Electronic Financial Transactions Act or other related laws
     • e. Even if the number of affiliates where BUSAN Pay can be used is reduced, if there are sufficient other affiliates available resulting in no risk of harm to users’ interests in purchasing goods or services provided by affiliates
     • f. In cases equivalent to the provisions in subparagraphs (c) through (e), where there are justified reasons determined and announced by the Financial Services Commission
2. In the case of affiliate cards if the affiliate has separate refund standards the affiliate’s refund standards are applied first.
3. Refunds are not possible for part but not all of the balance of the electronic prepayment means. Electronic prepayment means provided free of charge by the Bank through the purchase of goods or services or through events etc. are excluded from refund and are not included in the calculation of the usage amount under Paragraph 1 Item 4. Additionally if the Bank refunds the electronic prepayment means to the user the electronic prepayment means provided free of charge will expire.
4. The Bank may restrict the refund limit and number of refunds in order to limit fraudulent refunds for the purpose of raising cash by users.
5. Any other matters not specified regarding refund in these terms and conditions will be announced through the application screen etc.

1. The user may request the handling of disputes such as opinions, complaints and claims for damages related to electronic financial transactions through the customer service representative posted on the application screen or the contact information specified in Article 8 Paragraph 5.
2. If the user requests the Bank to handle the dispute the Bank will inform the user of the results of the investigation or handling within 15 days from the date of receipt of the request.
3. If the user has any objection to the outcome of the Bank's dispute handling the user may apply for dispute mediation related to the use of the Bank's electronic financial transaction service to the Financial Dispute Mediation Committee of the Financial Supervisory Service pursuant to the provisions of Article 51 of the Act on the Establishment of the Financial Services Commission or the Consumer Dispute Mediation Committee of the Korea Consumer Agency pursuant to the provisions of Article 31 Paragraph 1 of the Framework Act on Consumer Affairs.

1. Any matters not specified in these terms and conditions regarding electronic financial transactions shall be subject to the individual terms and conditions.
2. Matters not specified in these terms and conditions and in the individual terms and conditions for electronic financial transactions shall be subject to consumer protection laws such as the Electronic Financial Transaction Act the Act on Consumer Protection in Electronic Commerce etc. and the Specialized Credit Financial Business Act.
3. Lawsuits regarding all disputes related to these terms and conditions and electronic financial transactions shall be filed in the court of first instance jurisdiction under the Civil Procedure Act.
4. If the matters individually agreed upon between the Bank and the user are different from the matters set forth in these terms and conditions that agreement shall take precedence over these terms and conditions.
5. This English version of the Busan DongbaekJeon Electronic Financial Transaction Terms and Conditions is a translation based on the original Korean version of the Busan DongbaekJeon Electronic Financial Transaction Terms and Conditions. If there is any conflict between these two versions the original Korean version of the Busan DongbaekJeon Electronic Financial Transaction Terms and Conditions shall prevail.

These terms and conditions shall be effective from April 1, 2022.