Hana's currency exchange service Travlog hits over 5 million subscribers

Finance

Published: 04 Jun. 2024, 18:21 Updated: 04 Jun. 2024, 19:46

Hana's currency exchange service Travlog hits over 5 million subscribers

Hana Financial Group Chairman Ham Young-joo, fifth from left in the first row, poses for a photo during a ceremony held at Hana Bank's headquarters in central Seoul on Tuesday celebrating Travlog's 5 million subscriber milestone, with Hana Bank CEO Lee Seung-lyul, fourth from left, and Hana Card CEO Lee Ho-sung, sixth from left. [HANA FINANCIAL GROUP]

Hana Financial Group’s Travlog, an online currency exchange service, has garnered over 5 million subscribers, the firm said Tuesday.

Hana's Travlog card service, launched in July 2022, allows users to exchange Korean won into 41 different currencies around the clock without charging exchange fees. The service was expanded in February with the exchange cap upped to 3 million won ($2,178) for each type of currency, and fee-free remittance.

“Hitting the 5 million subscriber milestone with Travlog is a testament to [Hana’s] commitment to breaking down barriers, changing the paradigm for traveling abroad and providing a customer-centered, convenient and enjoyable experience,” said Hana Financial Group Chairman Ham Young-joo.

The service has been growing at a rapid pace as of late, as the number of subscribers hit the 3 million mark in November last year before reaching 4 million in February this year.

The accumulated amount of currency exchange surpassed 100 billion won only six months after the launch, and hit 1 trillion won by the end of last year. As of May, the total amount reached over 1.9 trillion won.

According to Hana, Travlog saved its subscribers a total of 57.2 billion won in foreign exchange fees, 28 billion won in overseas card transaction fees and 15.9 billion won in overseas cash withdrawal fees so far.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]