Toss Bank Introduces "Two Guardians Registration" Feature Allowing Both Parents to Manage Child's Finances

Service Transition Allows Child Customers to Manage Accounts Independently at Age 19
Toss Bank Representative: "We Will Continue to Enhance the Child Account Service to Perfect the Family-Centered Financial Journey"

On October 16, Toss Bank announced the launch of a new "Two Guardians Registration" feature, allowing both parents to jointly manage their child's account.

Previously, the child account service allowed only one parent to be registered as a guardian. With this update, both parents can now be registered as guardians at the same time, enabling them to manage their child's financial activities together. Without changing the existing guardian, an additional guardian can be registered, and both will have access to all major features related to the child's account, such as transfers, certificate issuance, and account closure. All notifications regarding the child's account (UMS) will be sent to both guardians.

Toss Bank's child account service is the first among internet-only banks to allow parents to open accounts in the names of their minor children (ages 0 to 16) entirely online. The service supports account, savings, and debit card issuance, and is designed so that children can experience financial activities firsthand while being managed by their parents. Currently, the Toss Bank child service consists of the following: Child Account, Child Savings, Child Debit Card, and Interest-Earning Piggy Bank.

Meanwhile, when a child customer turns 19, the child account service is automatically terminated. Once they become adults, customers can independently manage key features such as changing transfer limits and closing accounts, separate from their parents.

A Toss Bank representative stated, "With this expanded feature, both parents can now work together to form and manage their child's financial habits," adding, "We will continue to enhance the child account service to more conveniently and securely support the financial journey of all family members throughout their entire life cycle."