By Chung Ah-young
Woori Bank will offer a smart app service to replace bankbooks from August.
According to the bank Wednesday, it will launch the "Woori mobile bankbook" app that can manage accounts and programs for financial transactions including regular and installment savings accounts, loans and funds.
In particular, the service will allow app users to deposit and withdraw money from automated teller machines.
The users of smartphones powered by Google's Android operating system can use the service from Aug. 1, while Apple's iOS users can download the program from Aug. 11.
The app can include the accounts for deposit, loans and funds, and insurance with no limit, eliminating the inconvenience of holding several passbooks to cover every account.
The service will show the tracking records of depositing and withdrawing money for 10 years.
The bank expects that as the number of smartphone users is increasing, the service will replace bankbooks.
Annually, 10 million bankbooks are issued by Woori Bank. The banking industry issues some 70 million to 80 million bankbooks every year.