Trust Bank Unveils New Premium Service Tier ‘Trust+’by Fintech News Singapore February 1, 2024
Singapore’s digital bank Trust has introduced Trust+, a premium service tier offering additional privileges to its users. These benefits encompass an enhanced interest rate on deposit balances, exclusive rewards, a distinct app interface, and priority access to in-app customer support.
Trust+ automatically elevates customers who maintain an average daily balance of S$100,000 for the month to this new level of service. The average daily balance is determined by dividing the sum of the daily balances by the number of days in the month.
The automatic elevation to Trust+ will happen on the first day of the following month for qualified customers, streamlining the process and eliminating the need for applications or eligibility inquiries.
Eligible customers can also receive up to 3% per annum on deposits up to S$500,000 with no hidden fees or charges for its products.
This premium tier builds upon the Balance Bonus Rate introduced in December 2023, which provided an opportunity for customers to gain an additional 0.5% interest annually on their deposits by maintaining the required average daily balance.
In addition to financial benefits, Trust+ members are offered exclusive access to deals and memberships from a select group of entertainment, lifestyle, and dining partners in addition to the existing coupons and stamp cards.
The Trust+ app experience is customised with a black and gold theme and provides members with 24/7 priority access to customer service specialists.
Looking forward, Trust+ members will have access to an array of additional rewards, benefits, and experiences, including a specially designed metal bank card.
Michal Bialer, Chief Product Officer at Trust said,
“Trust+ is Singapore’s first fully digital elevated banking experience. Levelling up to Trust+ is easy, transparent and rewarding. Building around customer feedback, we’ve created a unique programme and are confident that customers will enjoy the wide range of benefits it offers.”
Dwaipayan Sadhu, Chief Executive Officer at Trust said,
“We are excited to deliver another innovative market-first in Singapore with Trust+. Alongside this, we now offer a wide range of products and services including savings, credit cards, supplementary cards, loans, insurance and of course an extensive benefits ecosystem. What brings all of this together is a delightful and innovative customer experience that is easy, transparent and rewarding.”