Toss Bank Now Allows All Products for Minors Aged 14 and Older

Introduction of Passport-Based Identity Verification
Teenagers aged 14 and older can now open accounts and use financial services independently
Existing guardian-assisted products like "Kid Account" and "Kid Savings" remain available

Toss Bank announced on August 6 that it has introduced a passport-based identity verification method, allowing minors aged 14 and older to access the same financial services as adult customers. With this expansion, teenage customers can now directly open a Toss Bank account and sign up for a variety of products, including savings and deposit accounts, foreign currency accounts, group accounts, and debit cards.

Toss Bank operates monitoring systems to prevent fraud in secondhand transactions and financial crimes, and also runs a "Safe Compensation Program" that proactively supports victims in the event of financial crime. These measures are designed to help minors conduct their financial activities more safely. For teenagers who have difficulty verifying their identity due to the absence of a passport, or who wish to conduct financial transactions through a guardian, existing products such as "Kid Account" and "Kid Savings," which allow for guardian-assisted sign-up, will continue to be offered.

A Toss Bank representative stated, "By introducing passport-based identity verification, we have expanded our services so that teenage customers can manage and experience finance independently. Moving forward, we will continue to consider both youth protection and improved financial accessibility so that more customers can take an active role in using Toss Bank."