Hana Bank launches MyData service for teenagers 14 and older

Hana Bank has launched a MyData service for customers aged 14 and older, marking a broader shift in the banking industry toward extending such services beyond adults to younger users.

According to Hana Bank on Tuesday, the service was developed in line with the Financial Services Commission's "MyData 2.0" initiative from 2024 and related amendments to financial regulations. The core aim is to help teenagers build digital financial experience and manage their assets now that the minimum age for MyData services has been lowered from 19 to 14.

Teenage customers can sign up directly through Hana Bank's mobile app, Hana One Q, without separate consent from a legal guardian.

Once enrolled, users can access a MyData page within Hana One Q to view a consolidated summary of their financial assets and spending — including deposits, savings accounts, debit cards and simple payment services. A card-spending alert feature notifies users when their card charges reach a preset threshold, helping curb overspending.

The service also provides visualized reports, including a month-on-month spending comparison and a six-month consumption analysis, so teenagers can objectively track their spending patterns and develop asset management skills.

"We launched this service to help teenagers form sound financial habits early and build systematic asset management capabilities," a Hana Bank official said. "We will continue to roll out a variety of digital financial services that customers can truly feel the benefit of."