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Naver Pay Point Cash Conversion Tips

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Created: 2024-11-13

Created: 2024-11-13 01:56

Want to convert Naver Pay points to cash? How can I do that?Naver Pay points can be used like cash, but converting them to cash isn't easy. We've prepared this for those of you looking for ways to cash them out.

Why would you want to convert Naver Pay points to cash?

  • Limited Usage: Naver Pay points have limited usage, making it difficult to use them where you want.
  • No Cash Receipt: Cash receipts cannot be issued, making it difficult to manage income tax deductions or expenses.
  • Expiration Date: There is concern that they may expire.

How to Convert Naver Pay Points to Cash

Naver Pay Point Cash Conversion

Naver Pay Point Cash Conversion

1. Convert to OK Cashbag points: The most common method is to convert Naver Pay points to OK Cashbag points and then cash them out through a gold investment platform.
2. Gold Investment Platform: You can buy gold with OK Cashbag points on gold investment platforms like Treasurer and then resell it to cash out.

Tip!

  • Check Fees: Buying/selling fees and cash withdrawal fees are incurred when investing in gold, so it is better to compare fees and choose a cheaper place.
  • Small Amount Cash Out: Amounts less than 50,000 won can be cashed out through the Hana Bank Hana OneQ app.
  • Check Latest Information: Since policies related to gold investment can change frequently, it is better to check the latest information and proceed.

FAQ

  • How long is the validity period of Naver Pay points?
    • 10 years from the last accrual/use date or charge date.
  • Can Naver Pay points be used like cash?
    • They can be used like cash at Naver Pay affiliated merchants.
  • Do I have to pay taxes if I convert Naver Pay points to cash?
    • Generally, under the Income Tax Act, it may be classified as miscellaneous income and taxes may be incurred.

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