Over half of Toss Bank's international transfer users are repeat customers

Toss Bank said Tuesday that one in two customers who used its international money transfer service between January and July came back for a second transaction. About 54 percent of users sent money two or more times during the period, averaging 3.7 transfers per person.

The repeat-use rate signals that international transfers are becoming a routine service rather than a one-off experience. The service is particularly suited to recurring needs such as tuition payments or living expenses for students studying abroad — transactions that tend to happen at regular intervals. Repeat-use rates exceeded 60 percent for the Australian dollar, Canadian dollar and British pound, currencies in high demand among students and working-holiday visa holders, suggesting that transfers tied to a clear, ongoing purpose are more likely to generate repeat business.

Toss Bank's international transfer service shows users an estimated arrival time before they submit a transfer request, then tracks the money's progress in real time — similar to a parcel-delivery tracker — until it reaches the recipient. For some US banks, tracking extends all the way to the receiving bank. Arrival times vary by currency, but customers can check the expected delivery window before sending. The service also routes transfers without correspondent banks, eliminating intermediary fees.

Also, the per-transfer fee of 3,900 won is waived through Dec. 31. The service is accessible through the Toss app by navigating to the main tab or typing "international transfer" in the search bar.

"We have worked to change the perception that international transfers are complicated, slow and uncertain — by offering transparency on arrival times before you even send, and by keeping fees low," a Toss Bank official said. "We believe that experience is what has driven customers to come back. We will keep expanding the service so customers can use it repeatedly with confidence."