Toss Bank Challenge Account Users Reach 300,000... Half Are Aged 50 and Above

Toss Bank announced on the 4th that its 'Challenge Account' surpassed 300,000 customers just over a month after its launch. Nearly half of these customers are aged 50 and above.

The Toss Bank Challenge Account is a product designed to motivate customers to take on challenges. After opening a Challenge Account, customers deposit a 10,000 KRW challenge deposit. Customers who successfully check in at their set time (6 AM, 7 AM, 8 AM, or 9 AM) for five weekdays have the chance to receive a prize calculated by multiplying the total challenge deposits collected from participants by an annual bonus rate of 2%.

If customers collect five lucky numbers received from weekday morning check-ins, winners are selected through a lucky number draw every Saturday. The prize amount is calculated by multiplying the total deposits made by participants by the 2% annual bonus rate. Over the four weeks since the Challenge Account was launched, the cumulative prize amount awarded to winners is approximately 1.5 million KRW. The deposits earn a basic interest rate of 0.1% per annum.

A Toss Bank representative stated, "It especially captured the interest of the Young Fifty, referring to the younger generation in their 50s and 60s." They added, "The age group that uses the Challenge Account the most actively is those aged 50 and above, accounting for 44.7%, the largest share. This is followed by customers in their 40s (30%), 30s (13.5%), 20s (9.4%), and teens (2.4%). Analysis shows that people in their 40s and 50s and above are the most enthusiastic challengers."