Updated September 29, 2026 · VaultCue Editorial Team
KakaoBank vs Yape
KakaoBank
Yape
Higher score in this comparison
What sets them apart
| Compare | KakaoBankReviewSee alternativesSee alternatives | YapeReviewSee alternativesSee alternatives |
|---|---|---|
| Monthly fee | ₩0 | PEN 0 |
| Currencies | 9Higher | 2 |
| Transfer fee | 0 KRW - interbank transfer and automatic transfer fees waived, plus all-bank and convenience-store ATM deposit, transfer and withdrawal fees | Free (0) to send a Yape payment; remittance receiving also free |
| Free ATM withdrawals | ₩0 | Not confirmed |
Same on both: Currency conversion fee (0%).
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Key differences
- Yape scores higher overall: 9.1 vs 8.9.
- Currencies is higher at KakaoBank: 9 vs 2.
- Support channels: only KakaoBank offers Phone, Chat.
- Features: only KakaoBank offers Free ATM.
Our verdict on each
KakaoBank
KakaoBank suits Korean residents, businesses and teens who want a fee-free everyday account run from an app, with a currency conversion fee of 0% and a variable rate of 0.1%. The 2016 bank is licensed by the Financial Services Commission (Korea), so money sits with a regulated bank rather than an e-money firm.
Yape
Yape suits people in Peru who want a wallet for everyday payments and money sent home, not a multi-currency account. The monthly fee is PEN 0 and the currency conversion fee is 0%, so the cost is hard to argue with, but the offer is thin at 2 currencies.
Score breakdown
| Area | KakaoBank | Yape |
|---|---|---|
| Cost | 9.4Monthly fee of KRW 0, currency conversion fee of 0% and interbank and ATM fees waived. | 9.6HigherMonthly fee of PEN 0, a currency conversion fee of 0% and free transfers on a single-currency wallet. |
| Offer | 9.1HigherVariable interest at 0.1% on easy access terms, 9 currencies, 1-3 days remittance. | 8.3Covers 2 currencies, pays out to the wallet only and runs as a digital-only service. |
| Trust | 8.4 | Not confirmed |
How they place
| Ranking | KakaoBank | Yape |
|---|---|---|
| Money transfer services | 302 of 1564 | 240 of 1564 |
| Multi-currency accounts | 167 of 348 | 129 of 348 |
| Online banks | 124 of 402 | 93 of 402 |
Every fact side by side
| Fact | KakaoBank | Yape |
|---|---|---|
| Audience | Business, Teen | Not confirmed |
| Pricing model | No monthly fee | No monthly fee |
| Features | Free ATM, Digital onlyCovers more | Digital only |
| Legal entity | KakaoBank Corp. (주)카카오뱅크 | Not confirmed |
| Headquarters | South Korea | Not confirmed |
| Founded | 2016 | Not confirmed |
| Support channels | Phone, Help centre, ChatCovers more | Help centre |
Savings
| Fact | KakaoBank | Yape |
|---|---|---|
| Headline rate | 0.1% | Not confirmed |
| Rate type | Variable | Not confirmed |
| Access terms | No contract period and no deposit limit; domestic residents aged 14+; interest settled monthly and paid the following day | Not confirmed |
| Account kind | Easy access | Not confirmed |
Money transfer
| Fact | KakaoBank | Yape |
|---|---|---|
| Delivery time | 1-3 days | Instant, credited directly to the Yape wallet |
| Payout methods | Bank, Cash pickup | Wallet |
| Fee to send 1,000 | ₩4,900 | PEN 0 |
Where each stands against the rest
| Fact | KakaoBank | Yape | Median |
|---|---|---|---|
| Currency conversion fee | 0%below the median | 0%below the median | 0.5% |
| Currencies | 9above the median | 2lowest quarter | 5 |
Median across 536 listed accounts.
Pros and cons
KakaoBank
Pros
- No monthly charge, with interbank, automatic transfer and all-bank ATM fees waived on transfers
- Currency conversion fee of 0%, which ranks joint top of 312 brands on cost
- Free ATM access and a digital-only service, with interest settled monthly and paid the next day
Cons
- Interest is modest, at a variable 0.1% against a 3% median
- Currencies are limited to 9, behind the 9 median for everyday accounts
- Remittances cost KRW 4,900 and take 1-3 days
Yape
Pros
- Monthly fee of PEN 0 on the everyday account
- Currency conversion fee of 0%, top of the multi-currency table
- Sending a Yape payment and receiving a remittance are both free
Cons
- Only 2 currencies, near the bottom of the multi-currency table
- Payouts run to the wallet only, so money cannot be withdrawn to a bank account
- Support runs on help centre only, with no phone or email line
Who each suits
KakaoBank
Who it suits
- Domestic residents who want everyday banking with no monthly charge
- Small businesses that need business and teen banking and frequent transfers
- Teens opening a first account at a minimum age
Who should look elsewhere
- Anyone holding a single currency, since 9 is short of the 350 seen site wide
- Savings seekers, because a variable 0.1% sits well under the 3% median
- People wanting cash abroad fast, since remittances take 1-3 days and cost KRW 4,900
Yape
Who it suits
- People living in Peru paying everyday bills from a phone
- Family members abroad sending remittances to a Yape wallet
- Anyone who wants to receive money without opening a bank account
Who should look elsewhere
- PayPal Colombia or Skrill if you hold money in several currencies
- eToro if you want a card account that pays out to a bank
- Anyone who needs help by phone, since support runs on help centre only
Current offers
Yape
Current offer
Discount code
Hasta 50% de descuento en electrodomésticos en Yape Tienda: Up to 50% off appliances
Source, checked September 26, 2026
Country by country
| Country | KakaoBank | Yape |
|---|---|---|
| Peru | No | Yes |
| South Korea | Yes | No |
Questions about each
KakaoBank
Is there a monthly fee for a KakaoBank account?+
There is no monthly charge on the account, which ranks joint top of 500 brands on that measure. Transfers are also free: interbank and automatic transfer fees are waived, together with deposit, transfer and withdrawal fees at all-bank and convenience-store ATMs. The balance earns a variable 0.1%, settled monthly and paid the following day.
What interest does the account pay and is it fixed?+
The rate is variable at 0.1%, and it moves rather than being locked in. That is well under the 3% median across the site, and there is no notice period to serve and no cap on the balance, so money can be taken out whenever. It is a spending and payment account rather than a home for savings.
Yape
How much does a Yape account cost to keep?+
The monthly fee on the everyday account is PEN 0. Sending a Yape payment carries no charge, and receiving a remittance is free as well, so the everyday cost of running the wallet is close to nothing.
What does it cost to change currency in a Yape wallet?+
The currency conversion fee is 0%, which sits at the top of the multi-currency ranking. The catch is that Yape only holds 2 currencies, so a wider currency basket is not available here.
Other options to compare
Other matchups
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KakaoBank
Yape