Tuition Fee Can Be Paid at Any Bank in Korea
○ Tuition can be paid at any bank branches of Korea from the fall semester of 2007, by using the virtual account service.
○ The virtual account service is a method used for money transfer that enables tuition payment and verification of the sender to be easier. An account belonging to the school would be created at Nonghyup (농협) and Shinhan Bank (신한은행), and each student would receive a unique account number to transfer his or her tuition to.
○ Until now, tuition had to be paid in cash by students physically visiting Nonghyup (농협) or Shinhan Bank (신한은행) with the invoice printed out from the schools’ webpage. However, tuition can now be paid at the bank, ATM, via internet banking, and telephone banking.
○ However, freshman in their first semester is excluded from utilizing this service. This is due to admission related problems that may occur to freshman, such as withdrawal and refunds. Therefore, freshman must print out the invoice and pay the tuition by visiting Nonghyup (농협) or Shinhan Bank (신한은행) for their first semester.
○ It is hoped that the implementation of the virtual account service and the expansion in methods of payment would ease time and place constraints of the tuition payment and further satisfy students and parents.
※ Users guide is attached.