Busan Bank Launches Mobile Financial Service Exclusively for Minors

BNK Busan Bank is launching ‘Jjokkomi,’ a mobile financial service exclusively for minors, to help children and adolescents develop independent financial habits, becoming the first regional bank to do so.

‘Jjokkomi’ is a digital financial service available to children and adolescents aged 7 to 18.

Users can sign up through the Busan Bank mobile banking app without opening a separate account, using only mobile phone identity verification. Children under 13 require parental consent.

Customers who subscribe to the ‘Jjokkomi’ service can use various features such as sending and receiving money, a piggy bank, spending diary, group accounts, and Dutch pay with a virtual account number called ‘Money Box,’ up to a monthly limit of 500,000 KRW. When linked with a guardian’s account, additional services like allowance requests and earning allowance through missions are provided.

Additionally, issuing a ‘Jjokkomi Card’ allows payments 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.

BNK Busan Bank Launches 'Jjokkomi' Service Promotion.

To celebrate the launch of Jjokkomi, Busan Bank has prepared a friend invitation event for customers who sign up for the service, running until December 29.

In this event, when a friend invited to Jjokkomi signs up for the service, 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.

Detailed information about the service and event can be found in the mobile banking app.

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