Toss Bank is enhancing its foreign exchange services as it targets the traditionally bank-dominated foreign exchange market.
On July 14, Toss Bank announced it will extend the waiver of the 3,900 won fee for international remittances until December 31, 2026.
This extension is aimed at reducing costs in response to the steadily increasing customer demand since the launch of its international remittance service in January of this year.
The fee waiver, which currently applies to seven currencies, will continue through the end of the year and will also be available for any additional currencies added in the future.
The range of remittable currencies will also expand. The Japanese yen (JPY), Vietnamese dong (VND), and Thai baht (THB) will be newly added, bringing the total to ten currencies, including the existing U.S. dollar and euro.
Japan, Vietnam, and Thailand are regions with high demand for remittances related to travel, study, local living expenses, and family support, and this expansion is expected to broadly address the remittance needs in Asia.
Toss Bank's international remittance service offers a user-friendly experience, allowing customers to intuitively check key information such as expected arrival amounts and fees within the app. However, transaction fees incurred when withdrawing from foreign currency accounts for remittances will still apply as before, separate from the waived remittance fee.
A Toss Bank representative stated, "By extending the fee waiver and expanding the currencies, we have made it easier for customers to utilize our foreign exchange services. We aim to provide a convenient and reasonable financial experience that carefully reflects everyday foreign exchange needs."
On July 14, Toss Bank announced it will extend the waiver of the 3,900 won fee for international remittances until December 31, 2026.
This extension is aimed at reducing costs in response to the steadily increasing customer demand since the launch of its international remittance service in January of this year.
The fee waiver, which currently applies to seven currencies, will continue through the end of the year and will also be available for any additional currencies added in the future.
The range of remittable currencies will also expand. The Japanese yen (JPY), Vietnamese dong (VND), and Thai baht (THB) will be newly added, bringing the total to ten currencies, including the existing U.S. dollar and euro.
Japan, Vietnam, and Thailand are regions with high demand for remittances related to travel, study, local living expenses, and family support, and this expansion is expected to broadly address the remittance needs in Asia.
Toss Bank's international remittance service offers a user-friendly experience, allowing customers to intuitively check key information such as expected arrival amounts and fees within the app. However, transaction fees incurred when withdrawing from foreign currency accounts for remittances will still apply as before, separate from the waived remittance fee.
A Toss Bank representative stated, "By extending the fee waiver and expanding the currencies, we have made it easier for customers to utilize our foreign exchange services. We aim to provide a convenient and reasonable financial experience that carefully reflects everyday foreign exchange needs."
* This article has been translated by AI.
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