What is a virtual account? It refers to a virtual account number providing support for a user company with bills receivable service and bills payable service for customers of a user company. A non-bankbook a subsidiary account derived from the parent account Usable without classifying into the said bank/other banks or on-line/off-line under the system same as an actual account The numbers of the user company¡¯s concentrated mother account and a virtual account of a service using company are assigned in 1:N and granted to its customers, and when a customer deposits a usage fee into a virtual account, a fund will be settled and deposited into the mother account, while providing deposit information of a virtual account in real time to a user company by the bank. Virtual Account Bills Receivable Service Assigning virtual accounts allocated by the bank in advance to customers/members of a user company by a user company Depositing or transferring to a relevant virtual account through various channels, including an over-the-counter transaction, CD/ATM and Internet/PC/Tele-Banking by customers/members of a user company Using automatic transfer service possible in case of transferring funds in a same amount repeatedly in a fixed period (possible to transfer to the virtual account of KEB from an account of other banks) Providing a user company with deposit details by each virtual account in real time Automatic processing of bills receivable from amounts deposited into a virtual account at the mother account of a user company Providing bills receivable service 2 times or more a day Virtual Account Bills Payable Service Printing a virtual account number on a card and issuing to members by a user company Withdrawing funds at CD/ATM of all banks using a card by a customer issued with such card Withdrawal of cash/checks Transferring to the real account of KEB Currently utilizing by capital companies for virtual account bills payable service to pay loaned money granted to customers Virtual Account Bills Payable Service Advantages of Using a Virtual Account An Aspect of a User Company Verification of a depositor of a user company¡¯s customer is prompt and accurate since verification of a depositor is made with a virtual account number rather than the name of a depositing customer. Simplification of accounting affairs and efficiency of fund management are enhanced due to automation of accounting affairs utilizing deposit information through establishment of the automatic accounting system. Making deposits is possible through entire deposit channel of all banks, establishing the nationwide network effectively. User company¡¯s expenses are reduced and businesses are simplified. A fee is more inexpensive compared with existing bills receivable service There is no need to organize transactions in a bankbook for verification of bills receivable Additional expenses on H/W and S/W are not required due to introduction of virtual account service. An Aspect of Customers (Member Customers) Making deposits is possible through entire deposit channel of all banks (branches, internet banking, tele-banking) It is possible for customers of a user company to make deposits at branches of KEB as well as some 3,000 branch post offices same as deposits made at KEB. A deposit fee is exempted when depositing through only KEB's e-banking There is not need to confirm deposit status Virtual Account Number = Own Deposit Account Number of Customers/Members Making proxy deposits is possible.