Trust Bank (Ntuc-SCB)? **DO NOT SHARE OR REQUEST FOR REFERRALS**

[compro_1975]

Anyone felt the same as me that this bank for a transaction to be posted takes longer than other banks?? Not sure is bank issue or merchant issue.... I ever record was half a month later than posted.. boycot the merchant since... but now I transaction 1 on my uob card and another on trust, uob already posted next day....

 

[Cumzilla]

Anyone felt the same as me that this bank for a transaction to be posted takes longer than other banks?? Not sure is bank issue or merchant issue.... I ever record was half a month later than posted.. boycot the merchant since... but now I transaction 1 on my uob card and another on trust, uob already posted next day....

yes it will take a few days for me also, this one better dont wait til end of the month then spend if u want to clock the 5 transactions...

 

[compro_1975]

yes it will take a few days for me also, this one better dont wait til end of the month then spend if u want to clock the 5 transactions...

5 transc no issue cos i go ntuc often... issue is out of ntuc shopping for 350... every month give me heart attack... i wonder is mech or the bank issue

 

[battledome64]

most are fairly easy to meet if you're their target group of customer (spend at NTUC and their union member). On the 100k balance, it's probably the lowest qualification criteria "priority" segment I've seen especially if you compare across the other banks

They say make 5 transactions but never provide detail what is the min transaction to qualify? No transparency.

 

[sglandscape]

They say make 5 transactions but never provide detail what is the min transaction to qualify? No transparency.

You may wish to read more carefully, the tncs are transparent. Also, that's because there is no minimum amount?

 

[battledome64]

You may wish to read more carefully, the tncs are transparent. Also, that's because there is no minimum amount?

Thanks. Is it me or they don’t elaborate what it entails.
the website puts asterisk and I scroll down there is no elaboration on the asterisk

the tnc applicable does not link to a detailed document unlike other banks

 

[sglandscape]

Thanks. Is it me or they don’t elaborate what it entails.
the website puts asterisk and I scroll down there is no elaboration on the asterisk

the tnc applicable does not link to a detailed document unlike other banks

How do I qualify for spend bonus interests? What counts as eligible transactions?

• Customers may receive spend bonus interest if they make at least 5 credit or debit card retail transactions posted in the month using their Trust card.
  
  Note that the following transactions do not qualify:
  - transactions arising from the use of your Trust card as an ATM card at an EFTPOS terminal;
  - balance transfers to your Trust card;
  - paying online bills using your savings account;
  - payments to loans or credit facilities or deposit accounts;
  - top-ups of any stored value facility;
  - paying bills at AXS using your savings account;
  - any fees and charges (including annual fees, interest charges, administrative fees, cash advance fees, finance charges and/or late payment charges and other miscellaneous fees and charges) charged to your linked Trust card;
  - balance owing on your Trust card from previous or other months; and
  - betting and gambling related transactions
  - any other transactions charged to your linked Trust card as we may determine from time to time.
  
  Base interest and bonus interest will be computed on a daily basis and based on a 365-day year.

Regardless, when you meet the criteria it'll be reflected in the app too.

 

[BBQ99]

How do I qualify for spend bonus interests? What counts as eligible transactions?

• Customers may receive spend bonus interest if they make at least 5 credit or debit card retail transactions posted in the month using their Trust card.
  
  Note that the following transactions do not qualify:
  - transactions arising from the use of your Trust card as an ATM card at an EFTPOS terminal;
  - balance transfers to your Trust card;
  - paying online bills using your savings account;
  - payments to loans or credit facilities or deposit accounts;
  - top-ups of any stored value facility;
  - paying bills at AXS using your savings account;
  - any fees and charges (including annual fees, interest charges, administrative fees, cash advance fees, finance charges and/or late payment charges and other miscellaneous fees and charges) charged to your linked Trust card;
  - balance owing on your Trust card from previous or other months; and
  - betting and gambling related transactions
  - any other transactions charged to your linked Trust card as we may determine from time to time.
  
  Base interest and bonus interest will be computed on a daily basis and based on a 365-day year.

Regardless, when you meet the criteria it'll be reflected in the app too.

I pay my Telco bill 1 cent x 5 and it is counted to meet 5 spending on CC.

 

[HweeN07]

How does the spend bonus work? The extra 0.5% interest count from the day of the month you hit 5 spending or for the entire month although you hit 5 spending in the last week of the month. Eg. If you hit 5 spending on 25th day of the month, you get the extra interest from 25th to the end of the month or for the whole month?

 

[sglandscape]

How does the spend bonus work? The extra 0.5% interest count from the day of the month you hit 5 spending or for the entire month although you hit 5 spending in the last week of the month. Eg. If you hit 5 spending on 25th day of the month, you get the extra interest from 25th to the end of the month or for the whole month?

Valid question, but it works similar to other banks where as long as you make 5 transactions in the month, your average daily balance in your account would earn the extra 0.5%.

 

[HweeN07]

Valid question, but it works similar to other banks where as long as you make 5 transactions in the month, your average daily balance in your account would earn the extra 0.5%.

It stated 'make min 5 qualifying card spends to unlock this bonus for the full month. Interest is calculated daily'. Another sentence state 'All interest are credited on the last day of the month.'
Don't get what it means. Taking the example again, if hit 5 spending on 25th of the month, then the daily interest already calculated before the 25th day will be 1.5% unless it recalculate daily interest from first day onward which make the 'Interest is calculated daily' redundant.

 

[sglandscape]

It stated 'make min 5 qualifying card spends to unlock this bonus for the full month. Interest is calculated daily'. Another sentence state 'All interest are credited on the last day of the month.'
Don't get what it means. Taking the example again, if hit 5 spending on 25th of the month, then the daily interest already calculated before the 25th day will be 1.5% unless it recalculate daily interest from first day onward which make the 'Interest is calculated daily' redundant.

You're reading too much into it. Interest calculated daily simply means it's based on your daily end of day balance, and interest is paid at the end of the month. It's not related to when you make the 5x transactions.

 

[m0x0m]

Anyone felt the same as me that this bank for a transaction to be posted takes longer than other banks?? Not sure is bank issue or merchant issue.... I ever record was half a month later than posted.. boycot the merchant since... but now I transaction 1 on my uob card and another on trust, uob already posted next day....

why use trusted bank.... when any happen will fairprice stand high n talll?

 

[sglandscape]

why use trusted bank.... when any happen will fairprice stand high n talll?

Not sure what you're implying here? Banks are regulated by MAS, who the shareholders give you positive credit uplift typically due to parental support.

 

[m0x0m]

Not sure what you're implying here? Banks are regulated by MAS, who the shareholders give you positive credit uplift typically due to parental support.

oh regulated U only can get 100k .. tiink hard why they create there own withour string attach

 

[sglandscape]

oh regulated U only can get 100k .. tiink hard why they create there own withour string attach

Please do get your facts right instead of drawing unknown conclusions. The bank (all banks operating here in fact are regulated by MAS. The 100k refers to SDIC which only apply to individual depositor and only for SGD. Both things not to be conflated.

The rate they are paying isn't even great compared to SORA, or what UOB One pays. The way I see it, NTUC decided to do a JV instead of partnering with OCBC.

 

[meekiatah]

Folks

I'm contemplating signing up the savings account and use the debit card for my everyday usage, such as for transport, paying for meals, paying for my monthly bills such as s&cc, electricity, water&refuse etc..

I'm now using UOB ONE Account, but after I move overseas, I may have difficulty satisfying the salary credit requirement (thought I can use the ownself transfer ownself hack) and the $500 monthly spend requirement, hence decided to just move my everyday banking to Trust seeing that they are most like a proper bank among the 3 digital banks.

My question is, is Trust Scan&Pay able to scan SGQR? I read from page 50 last night, and came across this reply that SGQR is not working for Trust. Anyone can confirm this? Thanks.

 

[sglandscape]

Folks

I'm contemplating signing up the savings account and use the debit card for my everyday usage, such as for transport, paying for meals, paying for my monthly bills such as s&cc, electricity, water&refuse etc..

I'm now using UOB ONE Account, but after I move overseas, I may have difficulty satisfying the salary credit requirement (thought I can use the ownself transfer ownself hack) and the $500 monthly spend requirement, hence decided to just move my everyday banking to Trust seeing that they are most like a proper bank among the 3 digital banks.

My question is, is Trust Scan&Pay able to scan SGQR? I read from page 50 last night, and came across this reply that SGQR is not working for Trust. Anyone can confirm this? Thanks.

The scan QR only works for PayNow payment, don't recall it works for NETS or SGQR at the moment.

You may want to set up a zero minimum balance account such as the DBS My Account. UOB has the Uniplus account with 500 min balance.

 

[meekiatah]

The scan QR only works for PayNow payment, don't recall it works for NETS or SGQR at the moment.
You may want to set up a zero minimum balance account such as the DBS My Account. UOB has the Uniplus account with 500 min balance.

Thanks for the reply.

Guess I'll still continue with signing up for Trust Savings account and using the debit card for my everyday needs. If I need to scan SGQR, I'll will do so with Grab wallet which I've been using.. Trust's no minimum balance and no fall below fee is what I'm mainly looking at. If I need cash, I can withdraw from SCB ATM near my place.. no much of an inconvenience.. pity CIMB does not have debit for it's FastSaving account.

 

[sglandscape]

Thanks for the reply.

Guess I'll still continue with signing up for Trust Savings account and using the debit card for my everyday needs. If I need to scan SGQR, I'll will do so with Grab wallet which I've been using.. Trust's no minimum balance and no fall below fee is what I'm mainly looking at. If I need cash, I can withdraw from SCB ATM near my place.. no much of an inconvenience.. pity CIMB does not have debit for it's FastSaving account.

Do note the Grab wallet may not work with all SGQR too.