KakaoBank's Youth Service "mini My Way Savings" Surpasses 300,000 Accounts
Users can create up to 10 savings accounts
Available to customers aged 7 to 18
KakaoBank said on Nov. 13 that the cumulative number of accounts for its youth-only savings service, "mini My Way Savings," had exceeded 300,000.
The service offers two options: "Basic Savings," for setting money aside whenever users want, and "Goal Savings," for saving toward a target amount. Users can create up to 10 savings accounts.
Users can customize their savings screens with photos and stickers and give them names. The service is available to customers aged 7 to 18.
One notable feature is that it is used evenly across age groups. A review of users as of the end of October showed that elementary school students aged 7 to 12 accounted for 30%, middle school students aged 13 to 15 for 38%, and high school students aged 16 to 18 for 32%. Female users accounted for 69%, a higher share than male users at 31%.
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A KakaoBank official said, "The fun of setting personal goals and decorating savings spaces has resonated with young customers. We will continue to introduce a range of services to help young people save money easily and enjoyably in their daily lives and develop sound financial habits."
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