Toss Bank has launched a product that automatically exchanges a fixed amount each day and saves it in U.S. dollars. It offers a 100 percent preferential exchange-fee benefit and is also running an event that pays $2 to customers who complete 100 automatic transfers.

Toss Bank said on Thursday it has launched a foreign-currency demand deposit product called the 'Foreign Currency Piggy Bank' that lets customers save dollars starting from 10,000 won a day.

Once customers set the automatic transfer amount, a fixed amount is exchanged from won into dollars each day and credited to the account starting the day after sign-up. The automatic transfer amount can be set between 10,000 won and 3,000,000 won.

The product also offers a 'fill' function that lets customers add money whenever they want and a 'take out' function that allows them to withdraw dollars when needed. A 100 percent preferential exchange-fee benefit applies both when saving and withdrawing dollars, and the same benefit is provided during automatic transfers.

To mark the launch, it is also running a 'Lucky $2' event. Customers can receive $2 if they save by exchanging at least 10,000 won a day through automatic transfers and complete 100 transfers.

The application period for the event runs through Oct. 30. Customers who start saving within the period can continue automatic transfers until they reach 100 transfers even after the event period ends.

A Toss Bank official said, "We designed the product so people can easily save dollars as if they were putting coins in a piggy bank." The official added, "We will continue to expand the scope of our foreign-currency asset management services."