Written by 12:58 PM Economics

Toss Bank’s foreign exchange service has surpassed 1 million customers.

Enjoy an average savings of about 80,000 won in exchange fees per customer by eliminating exchange fees,

‘Toss Bank has surpassed one million customers using foreign exchange services, including Toss Bank foreign currency accounts.’,

‘Toss Bank announced on the 8th that in just 105 days since the launch of the foreign currency accounts, the number of accounts exceeded one million. This means that about one person becomes a Toss Bank foreign currency account holder every 9 seconds.’,

‘Previously, Toss Bank declared on January 18 this year that they would not introduce preferential exchange rates that would make customers feel complicated, along with the slogan ‘Freely of the World’s Money’.’,

‘Toss Bank has increased accessibility to foreign currencies by eliminating exchange fees for customers, regardless of whether they are existing customers or newly signed up. They have also achieved a 100% preferential exchange rate without any transaction requirements.’,

‘According to exchange data analysis, from the launch in January until April 30, for over three months, the cumulative exchange transaction volume at Toss Bank without exchange fees amounted to a total of 5.8 trillion won. It was revealed that each customer had saved an average of about 80,000 won in exchange fees compared to exchanging with conventional financial institutions.’,

‘Furthermore, the age range of customers who have experienced currency exchange at Toss Bank varied from 17 to 100 years old. The 30s age group constituted the largest proportion (28%), followed by the 20s (27%), 40s (25%), 50s (13%), and those aged 60 and above (4%). It was particularly noteworthy that even customers aged 90 and above engaged in currency exchange, demonstrating the convenience of the service.’,

‘85% of all customers have connected a check card that allows for immediate payment abroad with their foreign currency account. With Toss Bank, there is no need to create a new card for overseas travel or overseas direct purchases; customers can simply link their existing Toss Bank check card to the foreign currency account. Unlike rechargeable prepaid cards with separate charging limits or unsupported currencies, the Toss Bank check card can be used anywhere in the world.’,

‘A Toss Bank official stated, “The fact that Toss Bank’s foreign currency accounts have surpassed one million accounts is due to simplifying and eliminating complexity in foreign exchange services that have been perceived as difficult in the past.” They also mentioned plans to maximize customer satisfaction through continuous service improvement and innovation in the future.’,

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