Frequently asked questions
All you need is your mobile phone and MyInfo authentication to pre-fill your application form effortlessly. Do note that should you delete or reinstall your Trust App after successfully signing up, SingPass will still be required to authenticate yourself when you re-login.
You may apply for the Savings Account by Trust if you are: 1. Singapore citizen, Singapore permanent resident or foreigner with a valid work pass; and 2. 16 years old and above
It only takes a few minutes. However, if we need to contact you for clarifications, it may take up to 5 working days.
16 years old and above.
You can view your account number in a few easy steps:
Log in to your Trust App
Tap on 'Savings'. You will be able to view your account number in the main account card after “Main -”
To copy your account number, tap on the Main card and click the copy icon in the “Trust savings account number” panel
Option 1 - using bank transfer (via FAST)
Step 1 Log in to your other bank account
Step 2 Add your Trust savings account as a local recipient, enter your recipient name and Trust savings account number.
Step 3 Make a transfer and that’s it!
Option 2 - add money using PayNow
Step 1 De-register your mobile number or NRIC/FIN if you have registered PayNow with another bank account
Step 2 Tap on Payments tab > Have you registered for PayNow?
Step 3 Complete the PayNow registration and make a PayNow transfer to your registered mobile number or NRIC/ FIN and that's it!
You can get a high interest rate of up to 2.25% p.a. on the first S$1,200,000 deposit balance in your savings account. This is made up of base interest of 0.5% p.a (no conditions); Spend bonus interest of 0.5% p.a. (if you are a Union member) or 0.3% p.a. (for non-Union member) with 5 qualifying card transactions, Balance bonus interest of 0.75% p.a. with S$100K Average Daily Balance (ADB) for the month, and Salary bonus interest of 0.5% p.a. if you credit minimum salary of S$1,500 in a single transaction through GIRO within the month.
Balances above S$1,200,000 will earn 0.05% p.a. interest. Your interest will be credited on the last day of the month.
Illustration:
If you meet the following criteria:
maintain a deposit balance of S$1,225,000 daily for the month of Dec
completed 5 qualifying card transactions of minimum $30 each on 5 Dec
have $2,000 salary credited on 20 Dec
your interest earned for the month of Dec is:
Union Member:
First S$1.2M:
Base: S$1,200,000 x 0.5% x 31/365 = S$509.58
Spend Bonus: S$1,200,000 x 0.5% x 31/365 = S$509.58 (you get bonus interest for the full month!)
Balance Bonus: S$1,200,000 x 0.75% x 31/365 = S$764.38 (you get bonus interest for the full month!)
Salary Bonus: S$1,200,000 x 0.5% x 31/365 = S$509.58 (you get bonus interest for the full month!)
Next S$25K:
Base: S$25,000 x 0.05% x 31/365 = S$1.06
Total interest = S$2294.18
Non-Union Member:
First S$1.2M:
Base: S$1,200,000 x 0.5% x 31/365 = S$509.58
Spend Bonus: S$1,200,000 x 0.3% x 31/365 = S$305.75 (you get bonus interest for the full month!)
Balance Bonus: S$1,200,000 x 0.75% x 31/365 = S$764.38 (you get bonus interest for the full month!)
Salary Bonus: S$1,200,000 x 0.5% x 31/365 = S$509.58 (you get bonus interest for the full month!)
Next S$25K:
Base: S$25,000 x 0.05% x 31/365 = S$1.06
Total interest = S$2090.35
Calculations are simplified for illustration purposes
The Savings Account by Trust is a Singapore dollar (SGD) account for your savings and everyday transactions. With this account, you can: - Save in SGD currency - Pay for your purchases in SGD with your Trust card or through PayNow QR - Withdraw money at any Standard Chartered ATM with Trust card - Transfer or receive SGD to or from other bank accounts (via FAST/PayNow/incoming GIRO/Salary crediting) - Make repayment to yourTrust credit card outstanding balances by setting up autopay or on an ad hoc basis
Grow your savings effortlessly
Enjoy a high interest rate of up to 2.25% p.a. on the first S$1,200,000 deposit balance in your savings account. This is made up of base interest of 0.5% p.a (no conditions), spend bonus interest of 0.5% p.a. (if you are a Union member) or 0.3% p.a. (for non-Union members) with 5 qualifying card transactions, Balance bonus interest of 0.75% p.a. with S$100K Average Daily Balance (ADB) for the month, and Salary bonus interest of 0.5% p.a. if you credit minimum salary of S$1,500 in a single transaction through GIRO within the month.
Balances above S$ 1,200,000 will earn 0.05% p.a. interest.
No more fees
Absolutely zero hidden fees! Say goodbye to minimum balance or fall-below fee, monthly service fee, account closure fee, FX fee and debit card annual fee.
Your very own debit card
Receive a debit card with these fantastic features:
- Instant digital card: No waiting needed. You'll receive a digital card instantly for e-commerce transactions before your physical card arrives
- Physical card activation via NFC or code: NFC allows you to simply scan your card by holding it to the back of your phone to activate it automatically. We are the first bank in Singapore to introduce this NFC capability! If you do not have a NFC-enabled phone, fret not – you can activate your card using the activation code found in your welcome pack
- PIN set up: Choose a 6-digit PIN for your card on your Trust App to securely access ATM transactions
- Numberless card: This protects your card against theft and fraud. You can access your card number easily via your Trust App
Easy access to your cash
Withdraw money from your savings account at our ATM located within FairPrice Xtra VivoCity or any Standard Chartered ATM.
Yes, you'll be informed of all incoming and outgoing account or card transactions instantly via in-app push notifications and email notifications.
On the last day of the month.
Interest will be paid monthly.
You can only open one Savings Account.
For now, you can open a savings account in your name only.
No, there are absolutely zero fees for this!
No, there are absolutely zero fees for this!
No, there are absolutely zero fees for this!
However, any interest accrued in the month of account closure will not be credited.
No, there are absolutely zero fees for this!
You can view or download your monthly statements in a few easy steps. - Log in to your Trust App - Tap on 'Savings' and select 'Deposit' - Select […] and then 'Statements' on the menu
Yes, you'll receive an email notification on the day it's ready. The statement for the current month will be generated within the next month.
Yes, you can access up to 7 years of statements via your Trust App.
Make at least 5 qualifying card transactions of minimum S$30 each with your Trust Card to unlock this Spend bonus for the full month on your deposit balance up to S$1,200,000. Transactions need to be posted within the month to be eligible.
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.
At the moment, there is no promo interest rate for Savings Account by Trust.
You can easily withdraw cash from Trust / Standard Chartered Bank (SCB)’s ATM located across the island as well as overseas ATM with Visa enabled. You can find a Trust-branded ATM at FairPrice Xtra Vivocity, #B2-23 and SCB ATMs at Bedok Mall, Bugis Junction, Vivocity, Sixth Avenue, Clementi Mall, NEX Serangoon, Serangoon Garden, Marine Parade, Changi Business Park, Tampines, Marina Bay Financial Centre and Battery Road. (Further details can be found at ATM Branch Locator).
You can use your card PIN for ATM cash withdrawal. If you've not set up or wish to reset the PIN, you can do so via Trust App.
No, there are absolutely zero fees for this!
No, you don't need to change your card pairing to savings account. For withdrawal of cash at ATM, the option you select at the ATM will determine which account the cash will be drawn from. For example, if you wish to withdraw from your Trust savings account, please select savings account at ATM. Do note that cash withdrawals under credit account option are cash advances and will incur interest charges.
You can withdraw up to S$2,000 in a single transaction.
No, Trust card can only be used at Standard Chartered Bank and Trust ATM at the moment.
Please contact Trust Customer Care Team via Trust App to investigate the issue.
Trust ATM is powered by Standard Chartered Bank to service Trust customers.
Please request for a card replacement via Trust App or contact Trust Customer Care Team.
Yes, you can withdraw cash from an overseas ATMs with Visa enabled. Please do look out for overseas ATMs with VISA – Plus logo that accepts 6-digit PIN as our Trust Cards only function with a 6-digit PIN. Remember to turn on the overseas usage for “Physical card and contactless use” under card transaction controls in your Trust app.
As for charges, there are absolutely no fees or charges or mark-ups imposed by Trust. However, the overseas bank that operates that ATM may charge a fee.
Please contact Trust Customer Care Team via in-app chat or call for dispute resolution.
Please select savings account for cash withdrawal from your Trust savings account.
You can conveniently pay your Trust credit card bill from your Trust savings account:
Log in to the Trust App
Tap on ‘Credit Card’ then ‘Pay card’
Your Savings Account should be shown. Select from the available options to make the payment.
You can also setup AutoPay to avoid any late payment
The transfer will be processed in real time to your credit card and you’ll receive an immediate confirmation.
How do I know if I'm qualified for bonus interest
- Login to Trust App
- Tap on ‘Savings’
- You will be able to view the status of your spend, balance and salary bonus accordingly
- For spend bonus tracker, the number of bars shaded will represent the number of qualifying card transactions for the month[
Maintain a minimum S$100,000 Average Daily Balance (ADB) for the month to unlock this Balance bonus for the full month on your deposit balance up to S$1,200,000.
All bonus interests will be credited on the last day of the month, together with base interest.
You can view your current ADB in a few easy steps:
1. Log in to your Trust App and tap on "Savings"
2. Tap on the drop down arrow on "Interest"
3. Tap on "+0.75% p.a. with min. S$100K Average Daily Balance” banner
Average Daily Balance is the sum of daily balances divided by the number of days in the month.
Yes, average daily balance (ADB) will be calculated based on the day your savings account is opened and you will qualify for balance bonus interest when you maintain a min S$100,000 ADB for the month.
Savings pots are sub-accounts that allow you to organise and set aside money for different purposes.
You can create up to 5 Saving Pots and set a goal and target completion date.
Yes, you can transfer money from Savings Pots to your main account and vice versa anytime, anywhere.
Balances in your Savings Pots will earn the same interest rates as your main account.
Interests will be calculated based on the total balances in main account and Savings Pots at the prevailing interest rates, and credited to the main account at the end of each month.
You can only transfer money to (or receive money from) other parties using your main account. You will not be able to transfer money to (or receive money from) other parties/banks using your Savings Pots.
You can set up AutoPay by following the steps below:
Log in to your Trust App
Tap on ‘Deposit’ then ‘Savings Pot’
Tap on the Savings Pot that you would like to set up AutoPay with
Tap on ‘Schedule AutoPay’
Select start date, end date, frequency of transfer and amount
Tap on ‘Confirm’, and Auto Pay will be set up successfully
OR
Log in to your Trust App
Tap on ‘Payments’ then ‘AutoPay’
Tap on ‘New AutoPay’ then ‘AutoPay to Savings Pot’
Select the Savings Pot to set up AutoPay
Select start date, end date, frequency of transfer and amount
Tap on ‘Confirm’, and Auto Pay will be set up successfully
Do note that AutoPay transfers will be automatically deducted from your Trust savings account based on the scheduled start date.
Debit card spends, AutoPay to Trust credit card, FAST/ PayNow transactions will be deducted from your main account only. Please remember to maintain or transfer sufficient funds in your main account for these transactions.
Credit minimum salary of S$1,500 through GIRO in a single transaction with purpose code "SALA" to unlock this Salary bonus for the full month on your deposit balance up to S$1,200,000.
Salary credited through FAST will not be eligible.
This is due to your Trust savings account having been inactive for some time. To safeguard your account, we've temporarily deactivated your account. You'll not be able to login to Trust App or use your Trust debit card until it has been reactivated.
To reactivate your account, please login to your Trust App for re-authentication. You can regain your Trust account in a few easy steps: 1. Log in to your Trust App 2. Tap on the Singpass QR code for authentication (ensure you have the Singpass app) and authenticate your Singpass account 3. For post authentication, set up your new 6-digit passcode.
Trust Lock is an in-app security feature that allows you to lock money in your savings account via Savings Pots, providing an additional layer of security for your funds from potential frauds and scams. Your funds cannot be used for any transactions until you unlock them using your Trust card and with your phone’s Near Field Communication (NFC)) feature. Alternatively, you can also choose to unlock this manually by visiting our TEC (Trust Experience Center) for manual verification.
Near Field Communication
(NFC) is a wireless technology that allows two devices to communicate when they are placed close together. In the case of Trust Lock, your Trust card is used to interact with your NFC-enabled phone to unlock funds securely.
It’s simple! First, create a new Savings Pot and transfer the amount you wish to lock from your savings account into that Savings Pot. When you activate Trust Lock, your funds in the Savings Pot will be locked. You will not be able to withdraw funds from a locked Savings Pot until you unlock it. You can create multiple Savings Pots and lock each of them too. To unlock them, you can either:
Use your Trust card by tapping it on your NFC-enabled phone, followed by entering your Trust Key, or
Visit our TEC (Trust Experience Center) in person for manual verification, if you do not have an active card or if you don't have an NFC-enabled phone.
Trust Lock provides an extra layer of protection by combining both account-level protection and NFC technology . Your money remains locked unless you unlock it with your Trust card and NFC-enabled phone, or through in-person verification at TEC.
To activate Trust Lock, simply log into your Trust App and go to ‘Deposit’ > ‘More’ > ‘Trust lock’. If you do not have a Savings Pot, you can create one, add funds and activate Trust Lock. If you have an existing Savings Pots, you can select the ‘Trust Lock’ option on your respective Savings Pot to lock your pot and confirm the activation.
You can choose the Savings Pot you wish to unlock and select the ‘Unlock’ option. Due to enhanced security, you will need to perform the following steps:
Verify your active Trust card with a NFC-enabled phone
Verify your Trust Key
Wait for a 12-hour cooling period
Alternatively, you can submit a request via your app to verify in-person and bring your NRIC/FIN to Trust Experience Center at FairPrice Xtra VivoCity. Once verified, your money will be unlocked instantly. Trust Experience Centre is located at FairPrice Xtra VivoCity, #B2-23. We’re open between 11.00am to 3.00pm and 3.30pm to 7.00pm daily! At Level B2 of Vivocity, head towards FairPrice Xtra and turn left after entering. The Trust Experience Centre is located directly opposite the checkout cashiers.
Please check that you are scanning with your Trust card.
On Android phones, the NFC area is at the back of the phone. It is usually in the center, and sometimes slightly higher. On iOS phones, the NFC area is at the top edge of the device.
Tap your Trust card on the NFC spot and hold the card against the phone for 1-2 seconds. Upon successful reading, you will see a tick icon. If it is still not responding after holding it for 1-2 seconds, please try other spots or check your specific device model online to find the NFC spot.
You will need to wait for a 12-hour cooling period before you can withdraw your funds. When the cooling period is over, you will receive a notification that you can withdraw money from your Savings Pot. Note: The 12-hour cooling period will not apply for manual unlocking performed at TEC. Unlocking of Savings Pot is instant once your identity has been verified.
If you do not have an NFC-enabled phone and an active Trust card, you will not be able to unlock your Savings Pot via the app. Instead, you will need to submit a request via Trust App to bring your NRIC/FIN to TEC (Trust Experience Center) for in-person verification to manually unlock your Savings Pot. [If you walk-in and request manual unlocking without sending a request, you may experience delays.]
If your Trust card is locked by yourself or not activated yet, please proceed to unlock or activate your card via the app before unlocking your Savings Pot. Alternatively, you can visit TEC to verify in-person and manually unlock your funds.
If your Trust card is lost/damaged, please proceed to request for a replacement card via the app or calling our hotline. You will not be able to use a damaged card to unlock your locked funds until you receive a new card (a valid and active Trust card is required). Alternatively, you can visit our TEC to verify in-person and manually unlock your funds. See FAQ on “How do I unlock my money in Savings Pot?”.
No, there is no limit. You can choose to lock all the funds in your savings account if desired. However, it is recommended to keep a portion of your funds unlocked for emergencies or regular transactions.
Yes, you can!! And rest easy! Your locked funds continue to earn interest that is credited to your main account.
Yes, you can select the exact amount of money to lock within your Savings Pots. This gives you the flexibility to secure a specific portion of your savings, while keeping the rest of your balance accessible.
No, there is no fixed time limit for how long your money can remain locked. You have full control and can unlock it any time by using your Trust card with NFC technology or by visiting TEC for manual verification.
No. It is a free service to provide an extra layer of security to protect your funds from potential scams!
Yes! You can continue to fund your Savings Pot even when Trust Lock is activated. However, you will need to deactivate Trust Lock to withdraw money from your locked pot.
