Preferential Exchange Rates and Fee Waivers
Korean Air Mileage Accumulation
IBK Industrial Bank announced on May 27 that it has launched a new overseas payment-specialized product, the 'I-Travel' check card.
When used overseas, the amount is withdrawn from the KRW account at a preferential exchange rate (base rate). There is no annual fee.
Regardless of the previous month's spending, both international brand fees and overseas usage fees are waived. Overseas ATM withdrawal fees are also waived up to three times per month.
For the first time among check cards specialized for overseas travel, if the cardholder spends at least 500,000 KRW in the previous month, the product is designed to allow the accumulation of 1 Korean Air mile for every 3,000 KRW spent on a single transaction of 30,000 KRW or more at domestic and overseas merchants.
To commemorate the launch of the new product, starting from June 1, IBK will hold an event in which 500 customers who spend at least 200,000 KRW with the I-Travel check card and apply for the event via the IBK Card app will be selected by lottery to receive 2,000 Korean Air miles.
Detailed information about the product and the event can be found on the IBK Industrial Bank website or through the IBK Card app.
An IBK Industrial Bank representative stated, "We have developed a card that can meet the steadily increasing demand for overseas travel," and added, "We will continue to listen to customer feedback and develop cards that reflect customer needs."
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