KakaoBank hits 5 million remittances waives fees for overseas transfers

KakaoBank has reached a major milestone with over 5 million transactions for overseas remittances since launching the service in July 2017. To celebrate this achievement, the bank is expanding its fee waivers for customers using its foreign exchange services.

Starting immediately, KakaoBank will waive the basic fee of 4,900 won for transferring funds from a foreign-currency account to an overseas account through the end of this year. This benefit applies to all transfer amounts and frequencies, and supports 9 currencies, including the USD, EUR, and JPY, to 19 countries.

The bank will also continue waiving fees for receiving overseas account transfers until September 30, 2027. This extension follows a two-year waiver period that began in October 2024, during which approximately 200,000 transactions were fee-free, saving customers around 880 million won.

A KakaoBank official stated that the expanded benefits aim to reduce the financial burden on customers using the overseas remittance service. The bank plans to further enhance the convenience of its foreign exchange services in the future.