Trust Bank

Trust Bank plans to cater to older Singaporeans and the less tech-savvy by being transparent about services and products. Read more at straitstimes.com.

For example, the bank is offering Singapore’s first credit card that lets customers choose their repayment dates. Trust Bank is also offering a family personal accident insurance scheme developed by Income, at a premium of 50 cents a month. Said Mr Sadhu: “The clients will bank with us because they are going to see real value at each interaction. When they do that, over time, there will be loyalty and they build deep relationships with us.” The digital bank is giving up to 21 per cent Linkpoints rebates on its credit card for NTUC members and 15 per cent rebates for other people. The savings account comes with a debit card that offers up to 11 per cent Linkpoints rebates for NTUC members and a maximum of 5 per cent rebates for others.

The savings account will offer a “market-leading” base rate and allow customers to earn up to 1.4 per cent of interest on their deposits, said the new bank ...

“What this does is it takes the client on the digital journey. We do not accept cheques, we do not do any of the banking transactions,” he stressed. The new bank's “numberless” card will offer the dual functionality of a credit and debit card. The policy will be available at no premiums for the first two months when a customer signs up for the bank’s credit card. This comes at a premium of S$0.50 per month and has no limit to the number of dependents covered. “We want (customers) to move entirely cashless. We want them to move fully digital, but it's a journey. Chief executive officer Dwaipayan Sadhu told reporters that the bank currently offers “one of the highest” base rates for savings accounts. Non-members will enjoy a bonus interest of 0.2 per cent on the same purchases. Both virtual banks – The new bank is touting a “differentiated customer experience”, with customers being able to sign up “in minutes” with their SingPass accounts and use their digital cards immediately. The savings account will offer a “market-leading” base rate and allow customers to earn up to 1.4 per cent of interest on their deposits, said the new bank formed by Standard Chartered and FairPrice Group.

Trust offers rewards of up to 21% as a promotional launch rate on everyday spending at FairPrice's touch points.

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