Mistaken Remittance Return Support Calculator

What is the Mistaken Remittance Return Support program?

The Mistaken Remittance Return Support program lets the Korea Deposit Insurance Corporation (KDIC) recover money on behalf of someone who accidentally transferred it to the wrong account.
Typical cases include mistyping an account number, sending money to the wrong person in a simple-transfer app, or entering the wrong amount.

This calculator is based on Korean rules (2026) under the Depositor Protection Act (예금자보호법) Article 39-2 and its Enforcement Decree Article 3-2, plus the KDIC “Rules on Mistaken Remittance Return Support.” The program started on 6 July 2021 and is administered by the KDIC through its Financial Safety Portal (fins.kdic.or.kr, call center 1588-0037). It is a planning estimate, not legal advice, and does not replace KDIC review or official notices.

Who needs this

• People who sent money to a stranger because of a wrong account number
• People who picked the wrong recipient in a simple-transfer app (Toss, KakaoPay, etc.)
• People who sent the wrong amount (for example, one extra zero)
• People who asked the bank for a return but the recipient refused
• Anyone who wants to estimate how much and how fast they can recover

Eligibility requirements (2026)

You must meet all of the requirements below to apply to the KDIC.
If any one is not met, the application is restricted or a different procedure applies.

1. Amount: KRW 50,000 to KRW 100 million

The mistaken transfer must be between KRW 50,000 and KRW 100 million per case.
The cap started at KRW 10 million when the program launched and has since been raised to KRW 100 million as of 2026.
Amounts under KRW 50,000 or over KRW 100 million are not supported; any excess must be pursued through a separate civil procedure.

2. Deadline: within one year of the transfer

You must apply within one year from the date of the mistaken transfer (the transfer date itself is not counted).
After one year you can no longer receive support, so it is best to apply quickly.
This calculator computes the elapsed days, the filing deadline, and the remaining days, and flags when the deadline is near.

3. After 6 July 2021 & bank request first

The transfer must have occurred on or after the program start date, 6 July 2021.
You must also first ask the bank or simple-transfer provider used for the transfer to return the money.
Only if the recipient refuses or cannot be reached, and you fail to get the money back, can you then apply to the KDIC.

When you are not eligible (exclusions)

The following cases are excluded from Mistaken Remittance Return Support.
In particular, voice-phishing and fraud losses follow a separate payment-suspension and victim-relief procedure, not this program.

• Transfers to accounts used for fraud or voice phishing (handled under the telecom-fraud victim-refund law)
• Accounts under seizure or a payment-suspension or other legal restriction
• The recipient has died or left the country with no domestic address
• The recipient is a closed or suspended corporation
• Not actually a mistaken transfer (for example a transfer to your own account) or already recovered

Return procedure and expected timeline

Step 1: Ask the bank to return the money first

Request a return through the bank or simple-transfer app used for the transfer.
Only if you fail here do you move to the next step.

Step 2: Apply for KDIC return support

Apply online at the Financial Safety Portal (fins.kdic.or.kr) or by phone (1588-0037).
You need a transfer confirmation, a receiving account in your name, and a digital certificate.

Step 3: Voluntary return request

The KDIC verifies the recipient and asks for a voluntary return by mail.
If the recipient returns it voluntarily, only minimal costs such as postage are deducted.

Step 4: Payment order (if not returned)

If there is no voluntary return, the KDIC files a court payment order to recover the money.
In this case, court stamp fees and service fees are additionally incurred.

Step 5: Return after deducting recovery cost

The recovered amount, minus the cost of the procedure, is returned to your account.
Per KDIC figures, the average time from application to return is about 43.6 days.

How is the recovery cost and expected return calculated?

The return amount is the recovered money minus the cost of recovery.
Recovery cost includes postage for the notice, the payment-order stamp and service fees, and labor and overhead.
According to KDIC figures, the average payout rate is 95.9% and the average recovery cost is about KRW 50,000.

Cost difference: voluntary return vs. payment order

A voluntary return costs little (mainly postage), so the payout rate is high.
A payment order adds court stamp and service fees.

• Payment-order stamp fee: one tenth of the main-suit stamp fee (Stamp Act on Civil Litigation, Articles 2 and 7)
• Service fee: KRW 5,500 per round × 6 rounds × 2 parties = about KRW 66,000
• Postage: actual cost of certified-mail notices

So for small mistaken transfers, the cost share grows and a payment order may not be worthwhile.
For example, if you sent KRW 70,000 by mistake, the payment-order recovery cost can exceed the transferred amount, which is why encouraging a voluntary return matters.

Example: KRW 1,000,000 mistaken transfer

Voluntary return: KRW 1,000,000 − about KRW 8,000 postage = about KRW 992,000 (about 99%).
Payment order: KRW 1,000,000 − (KRW 8,000 postage + KRW 1,000 stamp + KRW 66,000 service) = about KRW 925,000 (about 92.5%).
Applying the 95.9% average payout rate gives an expected return of about KRW 959,000.

How to use this calculator

Step 1: Enter the transfer details

Enter the amount you sent by mistake and the transfer date.
Also select whether you have already asked the bank or app for a return.

Step 2: Check the exclusions

Check whether any exclusion applies, such as phishing, seizure, or the recipient having died.
If any one applies, the diagnosis returns not eligible.

Step 3: Review eligibility and expected return

Check whether you can apply and the result for each requirement.
Compare the average-based expected return with the voluntary and payment-order estimates.

Step 4: Check the procedure and apply

On the procedure tab, review the steps, required documents, and how to apply.
File the actual application through the KDIC portal or call center.

Frequently asked questions

Q. Does a wrong simple-transfer (Toss, KakaoPay) also qualify?

A. Yes, mistaken transfers through simple-transfer providers are covered.
You must first request a return through that app or provider, and apply to the KDIC only if you do not get the money back.

Q. Can I recover money lost to voice phishing through this program?

A. No, fraud and voice-phishing losses are not covered by Mistaken Remittance Return Support.
Immediately request a payment suspension by calling 112 or your bank, and follow the victim-relief procedure under the telecom-fraud refund law.

Q. How much can I get back?

A. You receive the recovered amount minus the recovery cost.
Per KDIC figures, the average payout rate is 95.9%, and it is higher when the case ends with a voluntary return.

Q. How long does it take?

A. Per KDIC figures, the average time from application to return is about 43.6 days.
It can take longer if there is no voluntary return and a payment order is needed.

Q. Are amounts under KRW 50,000 really excluded?

A. Yes, per-case amounts under KRW 50,000 are not covered.
In that case you must ask the recipient directly or use a small-claims civil procedure.

Before you apply

Do not miss the deadline: you cannot receive support once one year has passed from the transfer date.
The bank request is required first: always ask the bank or simple-transfer app for a return before applying.
Beware of secondary fraud: messages offering to “help you recover” in exchange for a fee or personal data may be scams.
Use official channels only: apply only through the KDIC Financial Safety Portal (fins.kdic.or.kr) and call center (1588-0037).
These are estimates: the expected return here is for reference and actual results vary by case.

Legal scenario inputs

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