Kakao Bank extends overseas remittance fee exemption until the end of the year

Kakao Bank [323410] announced on the 6th that it will extend the ‘send/receive overseas account remittance’ fee exemption benefit until the end of the year to ease the fee burden on overseas remittance customers.

Accordingly, the basic fee of 4,900 won charged when transferring money from a foreign currency account to an overseas account will be exempted until December 31 of this year. The period of exemption that took effect on August 12th has been extended.

The benefit of full exemption from overseas account remittance receipt fees, which has been in effect since October 2024, will also be extended by one year until September 30 of next year.

Kakao Bank was launched in July 2017 and introduced the ‘Send and Receive Overseas Remittance’ service.

Kakao Bank explained that at the time, the cost of overseas remittances was reduced to one-tenth of that of existing banks, and thanks to these strengths, the number of cases of using the overseas account remittance service exceeded 5 million cumulatively within 9 years of launch.