"4% Interest Rate, 3% Point Accumulation"... Hana Bank Partners with Naver to Launch New Account

Naver Pay Money Hana Account and Check Card Launched
Use Naver Prepaid Recharge Funds Like a Deposit... 24-Hour Payment Also OK

[Asia Economy Reporter Minwoo Lee] Hana Bank and Naver Financial have partnered to launch an account that offers an annual interest rate of 4% and up to 3% of payment amounts credited as Naver Pay points.

Hana Bank announced on the 7th that it will release the 'Naver Pay Money Hana Account' in collaboration with Naver Financial and will limit sales to 500,000 accounts.

Designated as a new 'Innovative Financial Service' by the Financial Services Commission last September, this product combines Naver Financial’s Naver Pay prepaid recharge payment function with the deposit account function of commercial banks. When customers open this account through Naver Pay, the prepaid recharge funds will automatically be stored in this account. The recharge funds can be used like a regular deposit account.

Previously, the Naver Pay prepaid recharge payment function only allowed recharges in fixed amounts, but with this product, that is no longer necessary. Customers can freely use as much as needed from the deposited amount in the account. This eliminates the inconvenience of payments failing due to insufficient prepaid funds or having to refund excess recharged amounts.

Additionally, to prevent point recharges and payments from being blocked due to partial suspension of banking transactions around midnight, Hana Bank has established a system that operates 24/7, 365 days a year.

Various promotional events will also be held to commemorate the launch. Hana Bank will offer new customers who sign up within six months of the launch an annual interest rate benefit of up to 4% (pre-tax) for one year from the date of subscription, up to 1 million KRW.

Along with this, up to 3.0% of the amount paid using prepaid recharge funds will be credited as Naver Pay points. When using the 'Naver Pay Money Hana Check Card' at domestic and international card merchants, including public transportation, up to 1.2% points will be accumulated.

Other various point benefits are also prepared. By opening an account by the end of this year, customers will receive 5,000 KRW, up to 10,000 KRW for issuing a check card, and up to 40,000 KRW for using payment services, totaling up to 55,000 KRW worth of points.

When using Naver Pay payments with prepaid recharge funds in the 'Naver Pay Money Hana Account,' points ranging from 1,000 to 10,000 KRW will be provided up to three times. Points within the range of 1,000 to 10,000 KRW will also be given when paying with the 'Naver Pay Money Hana Check Card.'

Seongho Park, CEO of Hana Bank, said, "We will continue to challenge and innovate beyond finance into new areas so that financial consumers can use financial services safely and conveniently and enjoy various financial benefits, leading the innovative financial culture of Korea."

Sangjin Park, CEO of Naver Financial, said, "The Naver Pay Money Hana Account and Check Card are services designed so that Naver Pay users can simultaneously enjoy three benefits in daily life: point accumulation, interest, and protection of recharge funds. Going forward, Naver Pay will continue to innovate to safely provide users with new payment experiences as the industry’s number one simple payment platform."

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