SBI Savings Bank Partners with Hana Bank to Launch Mobile 'Currency Exchange Wallet'
[Asia Economy Reporter Song Seung-seop] SBI Savings Bank has partnered with Hana Bank to launch a mobile foreign currency exchange service called ‘Hwanjeon Wallet’.
On the 22nd, SBI Savings Bank announced that foreign currency exchange is now possible up to a daily limit of 1 million KRW through its application, Saida Bank. When a user applies for currency exchange via the app, the amount is stored in the wallet and can be collected at a Hana Bank branch when needed.
Additionally, users can utilize the ‘Hwanjeon Wallet Gift’ feature to send foreign currency to others, or the ‘Target Exchange Rate Auto-Exchange’ service, which sends a KakaoTalk notification when a preset target exchange rate is reached, allowing immediate exchange.
The service covers 12 countries including the United States, Japan, and China, with a preferential exchange rate of 90% applied to US currency without any performance conditions.
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Kim Dae-jung, Director of SBI Savings Bank, said, “This foreign currency exchange service is the first financial partnership between a commercial bank and a savings bank,” adding, “We will continue to expand partnerships with financial companies in areas such as insurance, cards, and investments.”
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