Toss Bank Launches "Foreign Currency Savings" Service for 17 Currencies

Accumulated Automatically Like Scheduled Transfers When Setting Rules

Toss Bank announced on May 19 that it has launched the "Foreign Currency Savings" service, which allows users to accumulate up to 17 currencies supported by Toss Bank, including the US dollar, in an installment savings format.

With the Foreign Currency Savings service, customers simply set their desired amount and frequency (daily, weekly, or monthly), and the specified amount is automatically exchanged from their KRW account to their foreign currency account every day at 10 a.m. All transactions benefit from a 100% preferential exchange rate applied instantly, making it easy to accumulate foreign currency just like a regular KRW savings account.

The minimum amount can be set as low as KRW 100, and users can create multiple rules within a single currency, such as "New York Travel Fund" (USD 30 per week) or "Dollar Savings" (KRW 5,000 per day), assigning nicknames to save for different purposes. These rules can be paused or modified at any time, allowing for flexible management according to one's financial situation.

Since last year, Toss Bank has offered the "Exchange at Desired Rate" feature, which automatically buys or sells foreign currency when a target exchange rate is reached. While the "Desired Rate" service was tailored for customers sensitive to price fluctuations, the new "Foreign Currency Savings" service caters to those who want to regularly accumulate foreign currency without setting an exchange rate.

Toss Bank explained that both investment-oriented customers who want to take advantage of exchange rate timing and savings-oriented customers who wish to steadily accumulate dollars as if saving can manage their foreign currency holdings according to their investment style. The foreign currency account also provides features such as foreign currency yield alerts, exchange rate widgets, and exchange rate news services, continuously enhancing customers' foreign currency transaction experience.

A Toss Bank representative said, "We developed the 'Foreign Currency Savings' service in response to the growing demand from customers who want to include foreign currencies such as the US dollar in their asset portfolios, allowing them to accumulate foreign currency automatically without having to monitor exchange rates individually. We will continue to strengthen our services so that customers can become more familiar and comfortable with managing foreign currency assets."