Among Toss Bank Pre-Applicants, 1.21 Million Are Waiting

[Asia Economy Reporter Hyungsoo Park] Toss Bank, the third internet-only bank, has stopped accepting new customers for four consecutive days.

According to the financial sector on the 12th, Toss Bank has suspended new account openings for pre-registered customers for four days from the Hangul Day holiday on the 9th until today.

Among the 1.66 million pre-registrants for the "unconditionally 2% annual interest" savings account, 450,000 customers who have already opened accounts can normally use services such as new account openings and loans. The remaining 1.21 million have pre-registered but have not yet opened accounts.

Toss Bank is reportedly concerned about a loan suspension crisis. A Toss Bank representative explained, "To prevent a loan suspension crisis, we have blocked new sign-ups during the holiday period as a measure to control the pace."

Since its launch on the 5th, Toss Bank's loan amount has approached 300 billion KRW as of the 8th. This already accounts for 60% of the 500 billion KRW total loan limit set by financial authorities for Toss Bank this year. It is known that more than 25% of the loan amount is allocated to low- to mid-credit borrowers.

Toss Bank stated, "We are continuously consulting with financial authorities to prevent a loan suspension crisis." Toss Bank is requesting to at least exclude low- to mid-credit borrowers from the restrictions.

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