Hana Bank's 'Travel Log Foreign Currency Account' has surpassed 100,000 accounts in about 10 months since its launch, marking a successful reception. Analysts suggest that as overseas travel and U.S. stock investments become more common, foreign currency accounts are establishing themselves as a practical financial tool.
On August 24, Hana Bank announced that its foreign currency savings account, the Travel Log Foreign Currency Account, has exceeded 100,000 accounts.
Launched in September 2022, the Travel Log Foreign Currency Account combines Hana Financial Group's overseas travel service, 'Travel Log,' with Hana Bank's foreign currency deposits and Hana Securities' overseas stock trading services.
The account allows customers to store foreign currency exchanged before traveling, use it for payments during their trips, and keep any remaining currency without converting it back to Korean won, which can then be used for investments.
Before traveling, customers can load foreign currency into the account as 'Foreign Currency Hana Money' without incurring additional fees, and any remaining currency can earn interest while stored in the account. Customers can also trade overseas stocks using the foreign currency in conjunction with Hana Securities.
The account is available to individuals aged 14 and older who are citizens of South Korea, as well as individual business owners. Customers can choose to deposit up to 10 different currencies from the 58 supported by Travel Log, with a total deposit limit of $10,000 across all currencies.
A Hana Bank official stated, "The result reflects customer demand to keep or invest leftover foreign currency after travel without converting it back," adding, "We will continue to expand our foreign currency financial services based on synergies among group companies."
* This article has been translated by AI.
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