Financial Habits from Age 7... Busan Bank Launches 'Jjokkomi' for Children and Teens

BNK Busan Bank announced on the 2nd that it will launch ‘Jjokkomi,’ the first mobile financial service exclusively for minors among regional banks.

‘Jjokkomi’ is a service designed to help children and adolescents aged 7 to 18 develop independent financial habits. It can be joined through the Busan Bank mobile banking application (app) without opening a separate account, using only mobile phone identity verification. Children customers aged 13 or younger require guardian consent.

Customers who subscribe to the ‘Jjokkomi’ service can use various features such as sending and receiving money, piggy bank, spending diary, group account, and Dutch pay through a virtual account number called ‘Money Box,’ with a monthly limit of 500,000 KRW. In particular, when linked with a guardian’s account, services like ‘Request Allowance’ and ‘Complete Missions to Receive Allowance’ are also provided.

Additionally, by issuing a ‘Jjokkomi Card,’ payments can be made at BC merchant stores both online and offline, and it also functions as a prepaid transportation card. However, usage is restricted for youth-restricted industries and overseas payments.

To celebrate the launch of Jjokkomi, an event will be held. Until the 29th of next month, when a customer invites a friend to join Jjokkomi, both the inviter and the invitee will receive 3,000 KRW each, up to a maximum allowance of 12,000 KRW. After the event ends, the top four customers who invited the most friends to join will be awarded AirPods Max.

Kim Jin-han, Head of Digital Finance at Busan Bank, said, “We listened directly to minors’ opinions and observed them, striving to create a service that teenagers truly want, not from adults’ perspectives. We will continue to work hard so that minors can lead independent and proper financial lives through enjoyable financial experiences.”