Shinhan Card users now able to perform transfers in foreign currencies

Shinhan Card users can now gift foreign currencies through a new service launched by Shinhan Bank.

Shinhan Bank building [NEWS1]

Shinhan Card users can now gift foreign currencies through a new service launched by Shinhan Bank.

The new service allows Shinhan SOL Travel Card users to transfer foreign currencies directly to another user’s Shinhan Sol Travel foreign currency deposit account, according to the bank on Friday.

Transfers of up to $5,000 can be made once a month without a transfer fee, and the service will be accessible through the bank's mobile app, Shinhan Sol Bank.

The bank is currently hosting other promotional events related to foreign currency services. One event offers the chance to win one of five iPhone 16s for international students, overseas residents, property investors and foreigners transferring $1,000 or more abroad. To participate, users must designate a new overseas exchange bank by entering its code during the transfer process.

Shinhan Bank is also offering a 100 percent exchange rate advantage for foreign workers transferring earnings from Korea abroad, until the end of the year.

“We will continue to strive to be the bank of choice for customers by advancing our service to the level that meets their expectations,” said a bank official.

Launched in February in partnership with Shinhan Bank and Shinhan Card, the Shinhan SOL Travel Check Card has been issued to 1.3 million users, with overseas spending totaling $500 million, according to the bank.

The card offers an array of benefits, including a 100 exchange rate advantage in 42 currencies, commission exemptions for overseas payments and ATM withdrawals and a special interest rate on remaining balances in the account after currency exchange.

BY WOO JI-WON [woo.jiwon@joongang.co.kr]