Welcome Savings Bank Launches 'ModuPay Account' Linked with Simple Payment System

[Asia Economy Reporter Kim Hyo-jin] Welcome Savings Bank announced that it will start selling the "Welbang ModuPay Account" (hereinafter ModuPay Account), a demand deposit account with a maximum annual interest rate of 3% linked to simple payment services, from the 28th.

After registering the ModuPay Account with major simple payment services such as Toss, KakaoPay, Payco, and Naver Pay, customers can receive interest benefits by charging and making payments using biometric authentication or simple passwords.

The base interest rate is 0.5% per annum. Additionally, a preferential interest rate of 0.5 percentage points per annum is applied when the account balance exceeds 500,000 KRW, and a preferential interest rate of 2 percentage points per annum is granted if the monthly simple payment account transfer amount is 100,000 KRW or more. The preferential interest rate applies up to a maximum of 1,000,000 KRW. Amounts exceeding 1,000,000 KRW will receive only the base interest rate.

As it is a deposit and withdrawal account, it can be linked with Welcome Savings Bank's mobile payment service, allowing customers to simultaneously enjoy related benefits.

This content was produced with the assistance of AI translation services.