Hotel dining vouchers, gift cards and asset transfer rewards on offer
As individual savings accounts, known as ISA, gain traction as a tax-saving and long-term asset management tool, securities firms are intensifying their competition to attract customers. Korea Investment & Securities is running a sign-up event offering hotel dining vouchers, gift cards and asset transfer rewards for new ISA holders.
Korea Investment & Securities announced Thursday that the event will run through July 31 and targets customers holding a brokerage-type ISA account through its Bankis platform.
Under the event, existing Bankis brokerage ISA customers who sign up for the "Share & ETF Accumulation" service and complete purchases of at least 1 million won (about $657) will be entered into a draw. Thirty winners will each receive a hotel two-person course dining voucher worth 600,000 won. The Share & ETF Accumulation service is a regular investment product that automatically purchases shares or exchange-traded funds on a set schedule.
Benefits for new customers are also available. Those who open a new brokerage ISA account and make a net deposit of at least 1 million won will receive a 10,000-won gift card. Customers transferring assets from another financial institution will receive rewards of up to 910,000 won, depending on the size of the net deposit. Customers who make an early deposit of 5 million won or more by Saturday will receive an additional 10,000 won. A special-rate promissory note product will also be sold on a first-come, first-served basis to ISA account holders.
As ISA accounts have established themselves as a leading tax-efficient investment vehicle, marketing competition among securities firms has been expanding. Shinhan Investment is also running a cash reward event through Aug. 31 for new and transferring customers opening a brokerage-type ISA.
hajun825@heraldcorp.com
