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Finance

KakaoBank to suspend financial transactions for 7 hours early Oct. 18; card payments, ATM use limited

KakaoBank will suspend financial transaction services for about 7 hours early on Oct. 18 due to scheduled maintenance of its computer systems. During the outage, account inquiries and transfers will be unavailable, and domestic and overseas check card payments and CD and ATM deposits and withdrawals will be restricted. Alerts for deposits, withdrawals and card payments will also be halted, along with customer service and related processing.

Finance

KakaoBank launches \'The Check Card\' with daily benefit selection

KakaoBank on Tuesday launched \'KakaoBank The Check Card,\' a debit card that lets customers choose card benefits each day based on spending plans. Users can select either 0.5 percent cashback at domestic merchants or 5 percent cashback at selected lifestyle brands and year-end tax settlement-related categories, with no prior-month spending or minimum payment requirements. Cashback is capped at 20,000 won per month and 1,000 won per day, and the current benefits run through June 30, 2027.

Finance

KakaoBank expands services for foreign residents, from account opening to overseas remittances

KakaoBank is expanding services for foreign residents in South Korea, offering mobile account opening without branch visits, dedicated verification and multilingual support. It introduced a foreigner account, check cards, overseas remittances and multilingual counselling. Customers can submit documents in-app and obtain balance and transaction statements. Fees for transfers and ATM use are waived under the same conditions as domestic customers. KakaoBank plans to add deposits, open banking and loan comparison next year.