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

[sglandscape]

Trust revises interest rate from 1 June 2024, up to 3.5%

1.25% base
0.5-1% spend (benefits union member)
0.5% balance bonus if more than 100k
0.75% salary credit bonus

 

[ThreeSteps]

Trust revises interest rate from 1 June 2024, up to 3.5%

1.25% base
0.5-1% spend (benefits union member)
0.5% balance bonus if more than 100k
0.75% salary credit bonus

From June, the 5 card trx need to be minimum $30 each.

 

[BBQ99]

The salary credit how strict is it. Can it be like UOB one?

 

[sglandscape]

The salary credit how strict is it. Can it be like UOB one?

We would not know yet, or if there would be a tracker. But tnc states require GIRO, so definitely cannot be via FAST

 

[BBQ99]

If so Trust bank is basically crippled with the cc spending and salary requirements

 

[sglandscape]

If so Trust bank is basically crippled with the cc spending and salary requirements

it might actually benefit more people than it cripples, especially given its now 3.5% vs 3% previously.

 

[BBQ99]

True. But the main appeal was the requirements is easy to meet especially if the person is already NTUC member. Some may benefit from the changes. But if need to move salary is another question with better options out there. Unless can ownself Giro ownself.
All Gov job do paynow. Another group that cannot benefit for this.

With UOB upping to 150k for 4%. Some may just take out from Trust to top up to UOB one.

 

[sglandscape]

True. But the main appeal was the requirements is easy to meet especially if the person is already NTUC member. Some may benefit from the changes. But if need to move salary is another question with better options out there. Unless can ownself Giro ownself.
All Gov job do paynow. Another group that cannot benefit for this.

With UOB upping to 150k for 4%. Some may just take out from Trust to top up to UOB one.

Don't think all govt job does paynow? This goes for those who cannot hit the 500 spend per month, ie those that potentially are close to retirement or extended beyond retirement age.

The target for UOB One and Trust are quite different.

 

[BBQ99]

I understand even school teachers is paid via Paynow. That is why OCBC 360 was updated to allow Paynow from Biz org. So without the salary component, Effective int rate becomes 3.5 less 0.75 which will be 2.75%.
That is if still with the required 100k saving and being NTUC member. So for some it will become as bad as 2% even with the 150$ CC spending.
So the people who can gain from this is quite narrow. Quite sad as the current setup is a lot more straight forward.
Felt a bit like GSX when it got nerfed, thought the case here some will do actually will find the new setup good for them

 

[pclow59]

Trust revises interest rate from 1 June 2024, up to 3.5%

1.25% base
0.5-1% spend (benefits union member)
0.5% balance bonus if more than 100k
0.75% salary credit bonus

Base reduced by .25 so is started to revised the interest rate before US Fed decisions

 

[meekiatah]

You may want to set up a zero minimum balance account such as the DBS My Account.

Search left and right for a bank account without minimum balance requirement and competent mobile banking app, didn't know one was available right in front of me.

Have proceeded to open an DBS My Account for my everyday needs. Don't know what's the interest rate, but it's not important as not going to put much fund there.

 

[woocheekiat]

Did a DBS bank transfer (not FAST), citing Salary Payment as Purpose of Transfer, and it was recognised by Trust Bank, thus qualifying for +0.75% Salary bonus rate.

 

[SeafoodGuy]

Did a DBS bank transfer (not FAST), citing Salary Payment as Purpose of Transfer, and it was recognised by Trust Bank, thus qualifying for +0.75% Salary bonus rate.

Does the unlock icon "checked" or turn green immediately after the funds are received in your trust account?
I did a trial to transfer as salary payment from one trust bank account to another trust bank account.
did it on the 3rd June but the lock icon is still grey. Wonder if it takes time to acknowledge that or it doesn't work from one trust account to another trust account.

 

[Panerex]

Anyone used this card to withdraw cash from ATMs in Korea?

How is the FX? Any additional admin charge?

 

[woocheekiat]

Does the unlock icon "checked" or turn green immediately after the funds are received in your trust account?
I did a trial to transfer as salary payment from one trust bank account to another trust bank account.
did it on the 3rd June but the lock icon is still grey. Wonder if it takes time to acknowledge that or it doesn't work from one trust account to another trust account.

Yes, it turned green once the amount was credited into my account on 4th Jun. I had arranged for the transfer on 1st Jun so it needed a couple of working days since it's not a FAST transfer.

 

[chaicl]

Yes, it turned green once the amount was credited into my account on 4th Jun. I had arranged for the transfer on 1st Jun so it needed a couple of working days since it's not a FAST transfer.

I tried the following from DBS to Trust with Salary Payment as purpose but all did not work:
* FAST transfer
* Standing Order

Have not tried non FAST. Now too late to try for this month, will try for next month.

 

[NardinJohn]

Did a DBS bank transfer (not FAST), citing Salary Payment as Purpose of Transfer, and it was recognised by Trust Bank, thus qualifying for +0.75% Salary bonus rate.

really? I forgotten my company do FAST transfer.... I called and check cannot sia... GG

 

[rerear]

what is the min spend for the spend category, does it follow calendar month? 3.8% is quite attractive.

 

[kazuki666]

Hi guys. I am new to Trust bank and it's card, like to ask you all. I linked my trust card to NTUC fairprice app. Tried to pay with the app at NTUC supermarket just now, but it shows error. I forgot I had locked the card in the trust app, so quickly on the spot unlock card. But still error unable to use the NTUC fairprice app to pay. Curious, what could have been wrong?

 

[sglandscape]

Hi guys. I am new to Trust bank and it's card, like to ask you all. I linked my trust card to NTUC fairprice app. Tried to pay with the app at NTUC supermarket just now, but it shows error. I forgot I had locked the card in the trust app, so quickly on the spot unlock card. But still error unable to use the NTUC fairprice app to pay. Curious, what could have been wrong?

Try readding the card.