Trust bank - Free $10 NTUC vouchers and more

We have a new bank in town. This time it’s a digitally-native bank with no physical outlet. 

Trust bank is backed by a partnership between Standard Chartered and FairPrice Group, both very established companies in Singapore.

To attract users, Trust bank is giving away $10 NTUC vouchers for new sign ups using the referral code. Note that you will need to sign up with a referral code in order to get the $10 NTUC voucher.

You can use my Trust bank referral code AC8CS60M or you can use your family and friends one. In return, they will also get a $10 NTUC voucher. #dontsaybojio 😂

You can download the Trust bank App by going to www.trustbank.sg. After that just use the referral code and sign up with your SingPass to get your $10 NTUC voucher instantly.

Your voucher will appear under Rewards > Coupons > My Coupons.
Besides the $10 NTUC vouchers, you will also get a free Breakfast Set at Kopitiam and 1 kg rice from NTUC.

[Update 4th Sept 2022: You can get another $25 NTUC vouchers on your first spending with your Credit/debit card with Trust Bank!

For those who have setup for a credit card with Trust Bank, you can go ahead and add the credit card to your your Grab account. Grab will do a deduction of $1 before refunding it back to your account for verification. Apparently this constitutes a spend and you will receive the $25 NTUC voucher without an actual spending.

For those who have setup a savings account, you will need to setup a debit card with Trust Bank. After that, you will need to do a top up of $1 to your account. You can do a bank transfer of $1 from your POSB/DBS or any other account to Trust Bank account like any other FAST transfer. After that you can go ahead and add your debit to your Grab account and receive the $25 NTUC voucher as well.

Not sure how long this Grab hack will last but any legitimate spending should get you the $25 voucher as well.]

Other benefits also includes a high base interest rate of 1 per cent on the first S$50,000 of deposits.

NTUC Union Members will get to enjoy a bonus interest of 0.4 per cent when they make five eligible purchases with the bank’s credit card. Non-members will enjoy a bonus interest of 0.2 per cent on the same purchases.

If you are a NTUC Union Member, Trust bank will definitely will be a good alternative to stash your fluid cash. 

On top of these, you also have discounts and stamps when you spend with participating merchants using your Trust Card.

 

Personally I think it's good that we are having more competition in this space. With competition, it will definitely benefits us consumers. Let's hope we get more of such incentives as the banks compete for market share.

As always, thanks for reading and do support me on my referral page. Stay Safe and Happy Banking!