With the start of service, which began operations on June 10, Indonesia becomes the third market in which LINE Bank is operating, following Thailand and Taiwan.
LINE Bank aims to target the Indonesian financial market by providing convenient digital banking services, combining the tech expertise of mobile platform company LINE and the accumulated financial know-how of Hana Bank. Starting with the launch of savings and deposit services, LINE Bank plans to introduce a variety of financial products and fintech services tailored to each locality’s specific needs and interests.
LINE Bank is offering several different products:
Saving accounts utilising eKYC (electronic Know Your Customer). Customers can receive automatic deposit/withdrawal notifications through the LINE messenger. Cardless cash withdrawals from Hana Bank’s ATMs are available;
Time deposits starting from 1 million rupiah (about USD 70), in addition to checking their returns in real-time;
Debit cards. Through various promotions, customers can also receive special cashback rewards;
Bill payment using the LINE Bank app.
In the future, LINE Bank is planning on expanding the range of products it offers, bringing Indonesian consumers such services as loans, partnership loans, and QR payments.
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