How to Set Up Dividend Reinvestment (DRIP), You Need a Dividend Account First, Where to Click?

You must have one condition, an account that receives dividends.

Dividend reinvestment (DRIP) menus and processing differ by broker.

Retail investor:

"Dividend posted as cash only, can't it auto-convert?"

There are generally three reasons why it does not auto-convert.

Where should you look first?

→ 1. App menu: Account management or service settings

→ 2. Product screen: Holding details or dividend management

→ 3. Customer notices: Check whether DRIP is supported

DRIP may not be supported depending on account type.

DRIP means automatically buying the same stock with dividends instead of receiving cash.

Do setting locations differ by broker?

The general flow is similar but button locations vary.

Try App Home → Account Management → Dividend/Deposit-Withdrawal settings to find it in most apps.

If it is not visible on mobile, check the web (PC) version.

What to check before setting?

Dividend payment method: change if it is set to cash payment.

Holding quantity: reinvestment may be restricted if fractional shares cannot be purchased.

Automatic buy timing: confirm whether purchase happens immediately after dividend deposit or in a batch.

Tax handling: dividend withholding tax still applies.

Check current tax rules with the broker's customer center or the National Tax Service.

Steps to set it on mobile?

→ 1. Tap your holding account

→ 2. Enter holdings or dividend management menu

→ 3. Turn on the 'Dividend Automatic Reinvestment' or 'DRIP' toggle

→ 4. Select scope (specific stocks/all)

→ 5. Confirm and agree to terms

Changes take effect from the next dividend payment.

I set it but it did not work, why?

Deposit delay: a purchase order is issued only after the dividend reaches the account.

Unsettled balance/liquidity shortage: purchases fail if cash is tied up in the account.

Unsupported securities: some foreign stocks and very small-cap stocks are excluded from DRIP.

If it still fails, contact customer support and show captured order details (fills, rejection reasons).

What to say when contacting the broker?

Prepare account number, the stock in question, and the dividend payment date.

Request 'Dividend Automatic Reinvestment setup' and ask for the 'purchase rejection reason' if it failed.

Receiving the broker's logs (order rejection code) speeds up resolution.

How to reinvest manually?

Confirm dividend deposit → place a market or limit buy order.

If the amount is small, accumulating and buying at once is convenient.

Consider fees and bid/ask impacts.

So, what to do first

→ 1. First check the account management → dividend/reinvestment menu in the app.

→ 2. After setting, check the first dividend payment date and confirm order fill details.

→ 3. If it fails, contact customer support with captures, and request logs via visit or web inquiry if needed.

Please use this as reference only.

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※ Figures are as of writing and may change.

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