If you’ve been shopping at FairPrice or scrolling through digital banking options in Singapore, you’ve probably come across Trust Bank.
Launched in 2022 as a partnership between Standard Chartered Bank and FairPrice Group, Trust Bank has quickly gained traction with its no-annual-fee credit cards and cashback rewards.
Its two flagship products – the Trust Credit Card and the Trust Cashback Card – promise everyday savings, NTUC integration, and digital-first convenience. But how do they really stack up, especially against travel-focused options like YouTrip?
This review breaks down everything you need to know: from Trust Bank interest rates and credit card benefits to cashback exclusions, eligibility requirements, and whether the Trust card or the YouTrip card makes more sense for you.
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📌 Table of Contents:
- TL;DR – Quick Takeaways
- What is Trust Bank Singapore?
- Trust Credit Card: Benefits & Features
- Trust Cashback Card: Review & Key Details
- Trust Bank Interest Rates & Credit Card Fees
- Trust Card Eligibility & Requirements
- Overseas Spending: Trust Card vs YouTrip
- FAQs
TL;DR – Quick Takeaways
- Trust Bank Singapore is a digital bank formed by Standard Chartered and FairPrice Group.
- Trust Credit Card & Cashback Card: No annual fees, unlimited 1% cashback on eligible spend only, up to 15% cashback in select categories (conditions apply).
- Trust Bank interest rate: Up to 2.0% p.a. on savings (conditions apply).
- Ideal for local spenders and NTUC Union members
- For overseas spending, the YouTrip card is generally preferred for its real-time wholesale exchange rates, zero fees, and multi-currency support.
What is Trust Bank Singapore?
Image Credits: Trust Bank
Trust Bank is a digital-first bank in Singapore, launched in 2022, a joint venture between Standard Chartered Bank and FairPrice Group. It’s designed for shoppers at FairPrice outlets, NTUC Union members, and anyone looking for a digital-only banking experience.
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Trust Credit Card: Benefits & Features
The Trust Credit Card is ideal for local spenders, everyday groceries, and NTUC members.
Key features:
- Digital-first management & tracking
- No annual fee
- Instant rewards via the Trust app
- NTUC integration: Extra perks for NTUC Union members & FairPrice shareholders
- Cashback: Unlimited 1% cashback on eligible spending, *up to 15% cashback on select categories (e.g. groceries, transport, dining).
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Trust Cashback Card: Review & Key Details
The Trust Cashback Card is a popular choice for Singaporeans seeking everyday cashback rewards.
👉 Cashback Structure & Bonus:
- Unlimited 1% cashback on all eligible transactions (no cap)
- *Up to 15% bonus cashback in a selected category (updated quarterly)
Bonus structure:
| Bonus Cashback | Min. Spend per Month (3 months) | Quarterly Cap |
| 5% | S$500 | S$30 |
| 10% | S$1,000 | S$100 |
| 15% | S$2,000 | S$250 |
How the 15% Bonus Cashback Works:
To qualify for the bonus cashback, you must:
- Spend S$500 / S$1,000 / S$2,000 per month for three consecutive months.
- Pick one bonus category (e.g., dining, travel, shopping, wellness, entertainment, transport).
- Stay within the quarterly cashback cap: S$30 / S$100 / S$250, depending on your spend tier.
What this means:
Spending S$6,000 over three months (S$2,000 x 3) might look like you’ll earn S$900 cashback (15%). However, due to the cap, only the first S$1,667 in your chosen category qualifies for 15%. The rest gets 1%.
Example:
- S$1,667 at 15% cashback = S$250 (cap reached)
- Remaining S$4,333 at 1% cashback = S$43.44
- Total cashback: S$293.33 on S$6,000 spend (~4.9% effective cashback)
⚠️ Note: The 1% base cashback does not apply to your chosen bonus category. If all your spend is in that category, the most you’ll get is S$250 (~4.17% of your total spend).
👉 Trust Cashback Card Exclusions:
Like most credit cards, certain spend does not qualify for cashback:
- Insurance payments
- AXS/SAM/ATM transactions
- Loan installments
- Late fees & interest charges
Trust Cashback Card Verdict:
The Trust Cashback Card can still deliver a decent return if you plan your spending carefully, but the 15% figure is more of a headline rate than a reasonable outcome. Most users will likely earn closer to 1-3% once caps and conditions are considered.
🟣 Alternative: Consider simpler alternatives like YouTrip – real-time wholesale FX savings on overseas spending, no caps, no categories, and fewer conditions.
📖 Read all about the Best Multi-Currency Cards In Singapore (2025): A Full Comparison Guide
Trust Bank Interest Rates & Credit Card Fees
👉 Savings Account Interest Rate:
- Up to 2.0% p.a. on deposits (up to S$1.2M) if conditions are met (e.g. min. spend & account balance)
👉 Trust Credit Card Interest Rate:
- 27.9% p.a. effective interest rate if balances are not fully paid.
- Standard for Singapore credit cards, but avoidable if you pay in full
👉 Trust Credit Card Annual Fees:
- No annual fee
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Trust Card Eligibility & Requirements
To qualify for a Trust Credit Card in Singapore:
Trust Debit Card:
✅ At least 16 years old & above
✅ Singaporean citizen / PR / Foreigner with a valid work pass
Trust Credit Card:
21-55 years old (Min. annual income):
✅ Singaporean citizens/PR: S$30,000
✅ Foreigner with a valid work pass: S$60,000
Above 55 years old (Min. annual income):
✅ Singaporean citizen/PR: S$15,000
✅ Foreigner with a valid work pass: S$60,000
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Overseas Spending: Trust Card vs YouTrip
Here’s a comparison between the Trust card and YouTrip when it comes to overseas spending:
| Feature | YouTrip | Trust Card |
|---|---|---|
| Card Type | Pre-paid Mastercard, multi–currency e-wallet | Dual Visa credit & debit functionality |
| Annual Fee | None | None |
| FX Fees | Zero FX fees across 150+ countries | Zero FX fees anywhere Visa is accepted |
| Currencies available for holding & exchange | ✅ 12 wallet currencies 👉 SGD, MYR, JPY, THB, USD, EUR, AUD, NZD, GBP, HKD, CHF, SEK | ❌ Not supported |
| Exchange Rates | Real-time wholesale exchange rates | Visa rates |
| FX Markup Protection | ✅ Blocks Dynamic Currency Conversion (DCC) | ❌ DCC may apply if merchant converts to SGD |
| ATM Withdrawals Overseas | *Free S$400 ATM withdrawals per month *2% fee applies thereafter | None |
| Cashback/Rewards | Partner cashback via YouTrip Perks, HLAS travel insurance cashback | Partner cashback with NTUC, FairPrice & more |
| Able to send money overseas? | ✅ Remittance to 40+ countries | ❌ Not available |
📖 Read Trust Card Vs YouTrip for a more in-depth comparison
What is YouTrip?
YouTrip is a multi-currency e-wallet and prepaid Mastercard designed for travellers. It supports spending in over 150 countries with 0% foreign transaction fees and allows users to lock in competitive rates across 12 currencies.
YouTrip is especially useful if you want to lock in favourable exchange rates before your trip, spend without worrying about DCC, or withdraw money overseas without hefty fees.
How to use YouTrip overseas?
- Top up your YouTrip wallet in SGD using PayNow, a linked bank account, or credit/debit card.
- Lock in foreign exchange rates in the app before your trip for 12 popular currencies
- Use the YouTrip Mastercard overseas for shopping, dining, and transport — it’ll automatically deduct from the right currency wallet or auto-convert SGD at wholesale rates.
- Withdraw cash overseas (free up to S$400/month*).
- Avoid DCC by always choosing to pay in the local currency.
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Which Card Should You Choose?
- Trust is a strong choice for everyday local spending, NTUC benefits, and cashback perks.
- YouTrip is tailored for travellers who want to avoid fees, exchange currencies in advance, and spend overseas with competitive FX rates.
FAQ: Trust Bank
1. Trust Bank is under which bank?
Trust Bank is a joint venture between Standard Chartered Bank and FairPrice Group, not UOB.
2. Does a Trust Card have cashback?
Yes. The Trust Credit Card offers 1% cashback on eligible spending, with up to 15% cashback in selected categories.
3. Trust Credit Card Review: Is it worth it?
Yes, if you shop often at FairPrice or want a no-fee card. But it’s less ideal for frequent travellers.
4. What is the benefit of a Trust Card?
$0 annual fees, cashback rewards, NTUC perks, and digital-first features.
5. Trust Credit Card Interest Rate?
27.9% p.a. effective interest rate if not fully repaid.
6. Trust Cashback Card Exclusions?
Insurance, AXS, loan instalments, and late fees.
7. Is a Trust Card better than YouTrip?
YouTrip’s real-time FX rates make it the stronger option for travel.
8. What is the SWIFT/BIC code for Trust Bank in Singapore?
- Bank Name: Trust Bank Singapore Limited
- Bank Code: 9733
- SWIFT/BIC Code: TRBUSGSG
- Branch Code: 001
Ready to Try YouTrip?
Find a card that suits your needs best — whether you’re looking for the best rates in town or one with zero fees.
Not a YouTrooper yet? Singapore’s go-to multi-currency wallet helps you save with great FX rates and zero fees. Skip the money changer and get a free YouTrip card + S$5 YouTrip credits with code <YTBLOG5>.
Then, head over to our YouTrip Perks page for exclusive offers and promotions — we promise you won’t regret it. Join our Telegram (@YouTripSG) and Community Group (@YouTripSquad) for travel tips, event invites, and more!
Happy travels!
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