KakaoBank simplifies banking for foreign residents with mobile account service
KakaoBank’s account service for foreign residents attracted 20,000 accounts in its first month, drawing customers from 124 countries, the bank said Thursday. Introduced in October, the account is available to foreign residents aged 19 and older and can be opened through the bank’s app in about five minutes. Customers can also apply for debit cards and send money overseas through the app without…
KakaoBank has launched a mobile account service specifically designed for foreign residents, attracting 20,000 accounts within its first month of operation. The service, introduced in October, is available to foreign residents aged 19 and older and can be opened through the bank's app in just five minutes. Customers can also apply for debit cards and send money overseas through the app without needing to visit a physical branch.
The registration process is streamlined through the government's Public MyData service, which retrieves personal details such as names, nationalities, addresses, and occupations. Myanmar nationals made up the largest share of account holders at 30.3 percent, followed by Chinese nationals at 18 percent, Vietnamese at 16.6 percent, Thai at 4.8 percent, and Japanese at 4.6 percent.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
