Naver, Kakao, Toss to Notify Users of 'Dormant Prepaid Balances' (Comprehensive)

Regular alerts and simpler refunds
Notifications via apps; do not respond to texts from unknown sources

Naver Pay, Kakao Pay, and Toss, the three big tech companies, will launch services this month to strengthen notifications about prepaid balances that have gone unused for a long time. They will send alerts so customers can regularly check balances they may have forgotten about and will simplify the process of receiving refunds into their own bank accounts.

According to financial authorities and the online payment industry on October 15, the three companies are improving or introducing procedures to notify holders of prepaid balances that have gone unused for a long time about their balances and how to receive refunds.

Naver Pay will regularly send Naver TalkTalk alerts to users who have had no record of using their Npay Money, such as by topping it up or making payments, in the past two years and have a balance of at least 1,000 won. The company will roll out the notifications starting October 19.

Users can check their balance through the alerts and, if they want a refund, receive the money in cash through the balance inquiry page.

Naver Pay also urged users to be cautious, noting that notifications are sent only through official channels such as app alerts and AlimTalk. It advised them never to respond to emails, text messages, or other communications from unclear sources that request bank account information.

Kakao Pay regularly sends AlimTalk notifications to users who have had no record of using Kakao Pay Money for at least one year but still have a balance. At least once a year, it provides users with a balance of at least 1 won with information about the amount held, its validity period, and how to receive a refund.

In this latest update, the company is also adding the word "Refund" to the "Transfer to my account" button in AlimTalk notifications.

The updated AlimTalk notifications will be sent to eligible users on a rolling basis starting October 19. Users can go to the bank transfer screen from the notification, enter the account for the refund and the amount, and receive the refund immediately.

Toss is also introducing the service. It applies to customers who have not topped up or used Toss Money for at least two years and have a balance of at least 1,000 won. Toss plans to notify these customers of their balances regularly at least once a year.

Toss will send notifications only through app push alerts. The company said it will not use text messages or email so customers do not confuse official Toss notifications with impersonation messages, as there have recently been cases of scammers posing as financial services and prompting users to click links or enter financial information.

Toss Money has no expiration date, so balances do not expire even if they go unused for a long time. After receiving a notification, customers can keep their Toss Money balance or use it for payments or transfers, and they can move it to a bank account in their own name whenever they choose.

This content was produced with the assistance of AI translation services.