“Easy-to-understand fund names, investments from 1,000 won” — Toss Bank launches fund service

[Financial News] Toss Bank has launched a “fund service” that makes complicated fund names easier to understand and allows customers to invest from 1,000 won. It has also lowered the barrier to investing by adding a feature that automatically invests interest earned on an account.
According to the financial industry on the 12th, Toss Bank has launched a “fund service” with a feature that automatically invests account interest. Anyone aged 19 or older with a Toss Bank account can use the service. Toss Bank sells the funds, while the asset management company for each product manages it.
The lineup comprises 17 products, including domestic and international stocks and bonds, gold, and MMFs (money market funds). Customers can invest from 1,000 won or build up their fund holdings with interest earned on their account.
To make it easier for customers to choose products, Toss Bank provides easy-to-understand names alongside the official fund names. For example, “Kyobo Power Index Securities Feeder Investment Trust 1 (Equity) Ce” is displayed as “Track the KOSPI 200.”
There are three ways to invest: “Buy once,” “Invest regularly” and “Build up a fund with interest.” When customers select “Build up a fund with interest,” interest earned in their Toss Bank account can be automatically invested in the fund they choose.
Toss Bank has focused its lineup on products with clear investment targets and strategies. Products using derivative structures or leverage and inverse strategies have been excluded. The lineup covers every risk grade, from Grade 1 (very high risk) to Grade 6 (very low risk).
Before customers sign up, their investment profiles are assessed based on factors including their investment experience, income and the losses they can afford to bear. Customers aged 65 or older receive enhanced protection procedures and follow-up calls.
Toss Bank plans to gradually expand its product options in line with customers’ investment experience and needs. Initially, the service will focus on easy-to-understand investment strategies and major asset classes. Later, the bank plans to improve its lineup and search features so customers can more easily find products suited to their investment goals and areas of interest.
A Toss Bank spokesperson said, “We will provide customers with thorough information about products and their risks so they can make choices that suit their investment profiles and goals, and we will continue to strengthen consumer protection.”
Meanwhile, Toss Bank has introduced competitive products from partner financial institutions through “Make Your Lump Sum Grow,” its investment product information service—the first of its kind launched by an internet-only bank. The cumulative amount of financial products linked through the service has reached 33 trillion won to date.
[email protected] Lee Hyun-jung Reporter