Keys Facts Sheet and Product Terms for Savings Account by Trust
We think youâll love your Savings Account by Trust (your account)â€ïž. First, please read these key facts and product terms carefully as they tell you about using your account, the available savings plans for your account, the Trust Link Debit Card or NTUC Link Debit Card (your debit card), your responsibilities, and other important information. Donât forget to read the General Terms and Conditions as they also apply.
Minimum balance requirement | None! |
Fall-below fee | None! |
Monthly service fee | None! |
Account closure fee | None! |
Card annual fee | None! |
Standing instruction (SI) fee | None! |
SI return due to insufficient funds | None! |
Card replacement fee | None! Normally itâs S$50 plus GST, but we are waiving this fee until further notice |
ATM withdrawal fee charges | We wonât charge an ATM withdrawal fee when you withdraw cash from your account from Trust or Standard Chartered ATMs. For overseas usage, you will usually be able to use your debit card for cash withdrawal unless local regulation does not allow this. If youâve activated the overseas ATM withdrawal function on the Trust App and you use your debit card overseas to withdraw cash: (1) The foreign currency withdrawal amount will be converted from US dollars into Singapore dollars at the foreign exchange rate provided by Visa with no fee from Trust (and if itâs not in US dollars, it will first be converted to US dollars). (2) Weâll take the Singapore dollar amount out of your account. The overseas ATM operator may charge a fee for overseas withdrawals. |
Foreign currency transaction | If you use your debit card to pay in a foreign currency (or get a refund in a foreign currency), hereâs what will happen: (1) The foreign currency amount will be converted from US dollars into Singapore dollars at the foreign exchange rate provided by Visa with no fee from Trust (and if itâs not in US dollars, itâll first be converted to US dollars). (2) For a debit transaction, weâll take the Singapore dollar amount out of your account. (3) For a refund, weâll credit the Singapore dollar amount to your account. Please remember that some transactions may be processed overseas even if displayed in Singapore dollars. We will consider these transactions as using your debit card in a foreign currency. Check with the retailer if youâre not sure. |
Dynamic currency conversion (DCC) | If your foreign currency transactions (including overseas and online transactions) are converted into Singapore dollars via DCC, this means that the process of conversion and the exchange rate applied will be determined by the relevant DCC service provider and not by us. |
Lost/stolen card liability | If you lose your Trust card, please notify us immediately by contacting us via the Trust App or by calling us at (+65) 313-87878 (313-TRUST). Your liability shall be limited to S$100 if you comply with the section of our general T&Cs on unauthorised transactions. |
We will credit Linkpoints to you as soon as your transactions are posted. We will credit bonus Linkpoints once you meet the Min Monthly Spend requirements. Min Spend requirements are based on transactions that are posted and completed on your account. If we hear that youâve changed your NTUC Union membership status, we will update our records. You will start to enjoy your new benefits on the 1st day of the next month after your Union membership is updated on the Trust App.
FPG groceries includes FairPrice, FairPrice Finest, FairPrice Xtra, FairPrice Xpress, FairPrice Online, Warehouse Club, Unity, and Cheers stores (excluding FairPrice Xpress and Cheers outlets located within Esso stations). FPG food includes participating Kopitiam stalls. FPG groceries and food spend will, together, also be referred to as FPG spend. Transactions must be posted before they qualify.
Eligible Spend refers to all Visa transactions made on your debit card, excluding FPG spend and ineligible transactions. You will receive 0.22% Linkpoints on all Eligible Spend, with no cap. See our FAQs for the list of ineligible transactions.
Min Monthly Spend refers to required Eligible Spend in a calendar month to earn any bonus rate. This requirement is waived for the first calendar month in which your debit card is approved. For example, if your debit card is approved on 1 Apr 2024 or 20 Apr 2024, you will not need to meet the Min Monthly Spend in Apr 2024 for any bonus rate.
The Base Rate includes the 0.5% Linkpoints given by FPG for FPG groceries (including Cheers). The additional Base Rate Linkpoints of 2% is exclusive to all FairPrice Members (NTUC Union members who are shareholders of FairPrice) for all FPG groceries purchases (excluding Cheers), capped at 12,000 Linkpoints per year.
The Monthly Bonus Rate is applicable on FPG spend. The Monthly Bonus Rate will be awarded as soon as you meet the Min Monthly Spend requirement. The Monthly Linkpoints Cap applies to your total FPG spend in a calendar month. For example, if your debit card is approved on 10 Apr 2024, the Monthly Linkpoints Cap will apply to your total FPG spend in Apr 2024.
Quarterly Bonus Rates apply to FPG spend. The applicable Quarterly Bonus Rate will be awarded as soon as you meet the applicable Min Monthly Spend requirement for three consecutive months, starting from the first month that your debit card is approved. Quarterly Linkpoints Caps apply to your total FPG spend, depending on your Min Monthly Spend. Any Quarterly Linkpoints Cap changes will apply from the date mentioned in this KFS. This means that, for example, when the Quarterly Linkpoints Cap changes from 3,500 Linkpoints to 2,500 Linkpoints in Apr 2024 and if your quarter ends in or after Apr 2024, then the new cap will apply to your quarter.
The FairPrice Annual Member Bonus (for FairPrice Members only) is applicable for FPG groceries (excluding Cheers) and is subject to approval at the FairPrice annual general meeting, capped at 12,000 Linkpoints per year.
Qualifying card transactions are retail transactions made on your Trust credit card and Trust debit card posted within the month and exclude the following: 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/credit facilities/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, late payment charges, and other miscellaneous fees and charges), balance owing on your credit card from previous months, transactions you make on your Trust card as a supplementary credit cardholder (as these transactions will be attributed to the main cardholder), betting and gambling related transactions, and any other transactions as we may decide. From 1 June 2024, each transaction needs to be minimum S$30 each.
Information you see on ATMs about your account (if available), for example your credit or debit balance, may not show the most up to date balance at that time. If any ATM does not allow you to choose the account you wish to use for the withdrawal, the order of accounts we debit is in accordance with our usual practice. If you are unsure, you shouldnât proceed with the withdrawal.
We calculate your ADB for a calendar month by taking the sum of your daily balance and dividing it by the number of days in the month. For new accounts, ADB is calculated based on the sum of daily balances from the day of account opening divided by the number of days the account is opened. This is how we calculate ADB for all bonus rates. We calculate your Balance Bonus interest on the last day of every month.
Eligible funds exclude Cash+ funds. Your buy orders need to be executed by the second last business day of the month to unlock this bonus for the month.
You can start using your account as soon as it has been opened for you with an account number assigned.
If you open your account and choose a plan after 1 September 2025, your plan will apply immediately. If you did not choose a plan, youâll automatically get the Signature plan.
If you opened your account before 1 September 2025, youâll automatically get the Signature plan.
Once your account is opened, youâll only be able to start a new plan in the following month. Inform us of your chosen plan through the Trust app before the end of the month, otherwise, your current plan will continue to apply.
We are looking forward to introducing more features in the future. Stay tuned!
As this is your personal savings account, it must be in your own name.
Your transactions will be declined if you have insufficient balance in your main accountđł. Also, if money is incorrectly deposited into your account, we may place a hold on your account or take the money out.
In some circumstances, you may be able to take out more money than you have in your account (overdrawn). If this happens, you must immediately put money into your account, so itâs no longer overdrawn. If you donât do this, we may take money out of any of your other Trust accounts (if you have any) and put it in your account. We may also charge you a fee and interest while your account is overdrawn. You can see details of these fees in the Key Facts Sheet above. You are responsible for paying us any overdrawn amount even if your account is closed.
You will not receive a cheque book for your account. You will not be able to deposit cheques into your account.
Our right to debit your account is not affected by disputes between you and third parties.
You will earn interest on the total balance in your main account and savings pots. Interest will be paid monthly unless we tell you otherwise. It is calculated at the end of each day and based on a 365-day year. Transfers made to your account will not earn interest until they are posted and credited to your account.
Interest earned on balances in your savings pots is credited to your main account. You may also be entitled to receive bonus interest. If you qualify for any bonus interest rate, you will enjoy the bonus interest rate on your balances for that month, unless we say otherwise.
See our Key Facts Sheet above to find out more about interest rates.
If a transaction is disputed and a disputed amount is returned to your account, that disputed amount may not earn interest. If any transaction is reversed, we can also take back or reverse any interest or bonus interest that has already been paid to you.
If you close your account, we will no longer pay you interest, starting from the calendar month during which you close your account. We will be sorry to see you go and we hope that you will come back to us one day!đą
We may not pay interest to you if we think that your account is not in good standing.
When you open your account, you will get a digital debit card (on the Trust App) which you can use immediately to debit from your main account. How cool is that?!đ We will also send you a physical debit card.
Your use of your debit card will be subject to Visaâs legal terms.
You can create savings pots and transfer money from your main account to them (and vice versa), as offered to you in the Trust App.
You must ensure that you have sufficient balance in your main account for outward transactions, including debit card spend, recurring transactions (like AutoPay to your Trust credit card) or PayNow transactions because they will be deducted from your main account only.
You can transfer and receive money to or from other people and organisations using PayNow. You need to register for PayNow if you want to receive funds via PayNow. You donât need to register if you only want to make an outgoing PayNow transfer.
To register, you must have an account and a valid +65 mobile number registered with us. You can register using your NRIC/FIN or your mobile number (or both). They will be linked to your main account. We will let you know once you have successfully registered.
If your mobile number or identification number changes, you must de-register and unlink your account from the old mobile number or identification number. You also need to tell us immediately that your mobile number or identification number has changed via our in-app chat so that we can update our records. Then you can re-register for PayNow using your new mobile or identification number.
If you have already registered for PayNow with another bank and you now want to use your NRIC/FIN or the same mobile number to register for PayNow with Trust, you must first de-register with the other bank before you can register with us.
You may de-register from PayNow with Trust by submitting a request through our approved channels and you must comply with any of our de-registration instructions. If you have not de-registered with us but we are informed by another bank/organisation that you have applied to register with them, we may de-register you. Also, if we receive information that your registered mobile number has been registered with another customer, we may de-register you.
Your PayNow registration (including your linked account, mobile phone number, NRIC number, display name, and full name) are collected and stored in a central database managed by Banking Computer Services Private Limited.
If you make a PayNow transfer, we will debit your main account. We may not require your signature or any PIN/password.
See our Frequently Asked Questions for details on the limits that apply to transfers. If you make PayNow transfers using a third-party service, these transfers are subject to the same limits. Additional limits may apply to you or the recipient (for example if the recipientâs account is subject to other limits).
If you allow the Trust App to access your contact list, we will only access it to facilitate your PayNow instruction.
You must allow the Trust App to access the camera function if you want to scan a PayNow QR code to pay someone. You must allow the Trust App to access your photos or images to import PayNow QR codes saved on your device. You must allow the Trust App to access the applications on your device to share your generated PayNow QR code with third parties.
You agree that your use or generation of any PayNow QR code to receive funds is at your own risk. You are responsible for verifying actual receipt of funds by you or the person that you pay.
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
All investments involve risks, including the possible loss of all or part of your original investment amount. Past performance are not indicative of future performance.
Last updated on: 1 September 2025, Version: 10
