Shinhan Bank Launches Deposit-Backed Credit Card Tailored for Foreign Customers

On August 18, Shinhan Bank, in collaboration with Shinhan Card, launched a new "Easy and Fast Deposit-Backed Credit Card" specifically tailored for foreign customers.

This product offers credit limits and benefits secured by a bank time deposit, providing a variety of perks and postpaid transportation card features equivalent to those of a standard credit card, even for customers without a credit history.

The company has also significantly improved the process for foreign customers, who previously faced challenges such as filling out paper forms and communication difficulties when applying for a credit card. The entire application process has been digitized and streamlined, and with features like automated eligibility screening and multilingual customer service, the time required for card issuance has been reduced from over one hour to approximately ten minutes.

A Shinhan Bank representative stated, "By introducing the deposit-backed credit card service for the first time in the financial sector, we are enabling foreign customers to enjoy a wide range of credit card benefits." The representative added, "We hope this will help foreign customers build their credit history and use domestic financial services more conveniently."

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