KakaoBank
Launched from Korea's dominant messenger; 300K accounts in 24 hours, profitable within two years.
Korea's messaging-native bank; 23M+.
- Who holds it
- The company itself — it holds a full banking licence — Internet-only bank license (KR).
- The ledger
- The bank’s own core ledger.
- If it fails
- A covered-deposit payout through the local scheme, up to its limit.
Derived from KakaoBank’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional |
| AI | AI underwriting in production |
| HQ | Seongnam, KR |
| Founded | 2016 |
| Custody | Custodial |
| Regulation type | Licensed bank |
| License detail | Internet-only bank license (KR) |
| Card | No card |
| Yield | Competitive KRW savers |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Asia |
| Countries | South Korea |
| Reported users | 23M customers (2024) |
| Founders | Kakao consortium |
| Funding | Public (KRX) |
Verified links: official site ↗ · terms ↗ · @kakaobank ↗
Common questions about KakaoBank
What is KakaoBank?
KakaoBank is a fiat neobank, headquartered in Seongnam, KR and founded in 2016. Your money is held custodially, so KakaoBank or its partner bank holds the balance and you hold a claim on it. It is regulated as a licensed bank (Internet-only bank license (KR)).
Does KakaoBank have a card, and where can you use it?
It issues no card of its own. It is available in Asia.
Does KakaoBank require KYC?
Yes. KakaoBank requires identity verification (KYC) to open an account, as a licensed bank.
What does KakaoBank cost?
From the verified fields: yield Competitive KRW savers. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with KakaoBank before relying on them.
Head-to-head
Peers
Wise · WeBank · bKash · Maya · GCash · PhonePe
KakaoBank appears in
Neobanks that hold their own banking license (132) · Neobanks available in Asia (132) · Neobanks with no card of their own (67)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.