KakaoBank Extends ATM Fee Waiver for One Year

"Accumulated Exemptions of 374.1 Billion KRW Since Inception"

KakaoBank announced on the 2nd that it will extend its policy of waiving customer fees for all automated teller machines (ATMs) nationwide for one more year. Customers can use transactions such as deposits, withdrawals, and transfers at all ATMs across banks and convenience stores nationwide without any fees. There are no conditions such as meeting transaction requirements.

This policy has been in place since KakaoBank's launch in July 2017. According to KakaoBank, the cumulative waived amount until last November since its launch is 374.1 billion KRW.

KakaoBank is practicing inclusive finance not only through ATM fee waivers but also by exempting early repayment penalties, accepting requests for interest rate reductions, and providing cashback benefits on check cards. Up to the third quarter since its launch, the financial costs reduced by KakaoBank?including ATM fee waivers, early repayment fee waivers, check card cashback benefits, and interest savings through interest rate reduction requests?amount to approximately 1 trillion KRW.

A KakaoBank representative said, “We decided to extend the ATM fee waiver policy to help alleviate the financial burden on our customers. We will continue to strive to practice inclusive finance going forward.”

KakaoBank announced on the 2nd that it will extend its policy of waiving customer fees at all automated teller machines (ATMs) nationwide for one more year. Photo by KakaoBank

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