Switching Bank for Non-face-to-Face Account, Is Identity Check All You Need?

There is only one condition!!! Identity verification is crucial when changing the linked bank.

Changing even one bank can alter your trading routine these days.

Retail investor: "Isn't it just a few taps in the app?"

It is fine. Follow the steps one by one.

What is account linkage?

A non-face-to-face account → a stock account with deposit and withdrawal linked through a bank app or broker app.

This linkage makes automatic transfers and withdrawals convenient.

What should you check first?

Check that there are no pending orders or withdrawal requests in the stock account.

Scan your account balance and dividend and tax settings once.

Also confirm that your bank app and broker app login information is up to date.

Terminology: Identity verification → the process of confirming identity using ID, mobile phone, and simple password.

How do unlinking and linking work?

Step 1: Find the 'Manage linked banks' menu in the broker app.

Step 2: Tap to request unlinking of the existing bank connection.

Step 3: Complete identity verification (mobile phone, public certificate, etc.).

Step 4: After confirming the unlink completion message, apply to link the new bank.

Screens and sequences vary slightly by broker and bank.

Is identity verification complicated?

Most cases allow mobile identity verification and a simple password.

Some banks may require additional verification (video or public certificate), so check in advance.

How long does it take?

It is usually reflected immediately, but processing may occur in business days depending on bank and broker systems.

Check each bank and broker's guidance for the latest standards.

What precautions should you take?

Cancel withdrawal and transfer reservations before unlinking the existing connection.

Automatic transfers may fail during unlinking.

If the account number changes, you must re-notify deposit routes.

Is personal data and security safe?

Keep app permissions and passwords up to date.

Do not complete verification on public Wi-Fi or public devices.

So, where do you start

→ 1. Locate the 'linked banks' menu in the broker app in one line

→ 2. Check and cancel pending orders and reservations in one line

→ 3. Proceed in order: unlink existing connection → identity verification → link new bank in one line

Please use this as a reference only.

PickStock 💡

※ Figures are as of the time of writing and may change.

※ Investment decisions and responsibility lie with the investor.

※ This article is for information purposes and is not investment solicitation.