A collaboration between Standard Chartered Bank and NTUC FairPrice, Trust Bank is a newly launched bank that offers a savings account, debit card, credit card and personal accident insurance.
Its main selling point is centred on helping consumers save, either via partner discounts, zero-fee card services, or high-interest savings accounts.
Here’s a closer look at what Trust Bank has to offer.
What is Trust Bank All About?
Trust Bank, in a nutshell, offers a savings account, payment services and insurance. Deposits are secured by SDIC for up to S$75,000, and account-holders can earn up to 2.5% p.a. interest on savings deposits. As an added plus, it charges no card fees, account fees, or foreign transaction fees.
NTUC Union members get up to 21% savings with NTUC Link Credit Card, and 11% savings with NTUC Link Debit Card (with minimum monthly spend of S$350). Meanwhile, non-NTUC Union members get up to 15% savings with Trust Link Credit Card, and 5% savings with Trust Link Debit...
NTUC leave senior citizens in the cold as Trust Bank don’t grant credit cards approval to the older folks.
It seems NTUC forgot that the older folks are the ones who patronize their outlets in the early days. X, Y, and Z generations don’t do grocery shopping as senior do.
Irony, Trust isn’t there for seniors. Can’t trust NTUC anymore.. Its no longer a co-operative. It is a commercial entity.
Who can you trust now.