Trust Bank Review

Trust Bank, a partnership between Standard Chartered and FairPrice Group, is a new digital bank in Singapore. It offers innovative and exciting products that meet the needs of the modern you. Trust Bank is MAS regulated, and your deposit is SDIC insured (up to $75,000).

The Trust Savings Account is great for your day-to-day banking needs. It offers:

1% interest on the first $50,000 (up to 1.4%) with no special requirements
A Visa debit card that lets you save up to 11% on groceries and food at FairPrice Group
No fees at all (eg. minimum balance fee, account closure fee, annual fee etc)! Worry-free!
Sign up is instant and takes no more than a few minutes
Bonus: Get FairPrice E-Voucher Worth $35 (or $80 as a couple)
Many freebies/offers (free Kopitiam signature breakfast set, $2 off at Starbucks etc)

Spend a Few Minutes and Get FairPrice E-Voucher Worth $35 (or $80 as a couple)

When you open a Trust Savings Account, you will get:

FairPrice E-Voucher worth $10, by using our referral code PGQURC71
FairPrice E-Voucher worth $25, after you make the first card spend (can be any amount)

FairPrice E-Voucher can be used in FairPrice stores (counters, self checkout kioks), Warehouse Club, Unity stores and online.

To apply as a couple (or with a family member or friend), you can apply first and get the $10 (referred) and $25 (first card spend) above. Next, ask your partner to open an account using your referral code (found in the app). You will get $10 (referrer), and your partner will get $10 (referred) and $25 (first card spend). Total = $80.

Step 1: Open an Account

Hop on to Trust Bank, download the app and install it. In the app, use referral code PGQURC71 to open an account. (You will not get the $10 if you forget to use the referral code.) After the account is opened, you can find the $10 FairPrice E-Voucher in the app under Rewards > Coupons > My coupons. You can use it right after account opening.

Step 2: Make the First Card Spend

You can find your account and debit card number in the app right after account opening. You can start using the debit card online immediately, or wait for the physical card to arrive (by post in about a week). Transfer some money from your other bank account (DBS/UOB/OCBC etc) to your Trust bank account with FAST transfer, and make a Visa transaction (online or offline) in any amount. After making the first card spend, you will receive the $25 FairPrice E-Voucher (also in the app, under Rewards > Coupons > My coupons).