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Toss Bank to allow foreigners to open online bank accounts

Tuesday 3 May 2022 14:49 CET | News

Toss Bank has announced it will allow foreign residents in South Korea to open an online bank account.

Foreigners are offered the same service as locals, according to the bank, which was set up in 2021.

The bank said it will use data held by the government to authenticate the identity of foreigners who would have to scan their registration card online to open accounts. The information on the card must match the government-held information, the bank added.

The official added that the bank’s customer service would reach out to foreigners having a hard time finding the services they need due to language barriers. The bank’s current mobile app is released in Korean only, which could be a problem for about 1,570,000 potential foreign customers eligible to open accounts.


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Keywords: banks, digital banking, online banking, product launch, financial services
Categories: Banking & Fintech
Companies: LINE, Open, Toss Bank
Countries: Korea, Democratic People's Republic of
This article is part of category

Banking & Fintech

LINE

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Open

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Toss Bank

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