Virtual bank Trust turns one; 2.1 million transactions logged

The bank is giving away 100,000 bags of rice and doubling its referral rewards.

Trust Bank celebrated its 1-year anniversary with 2.1 million transactions logged and over S$1.6b spent by customers in its Trust cards and apps.

The bank– one of Singapore’s newest virtual-only lenders– says that it now has over 600,000 customers using the app.

In terms of other services given, Trust shared that its customers have saved S$16m through FairPrice e-vouchers and used more than 2.2 million digital coupons with the bank’s partners across Singapore.

“A huge thank you to our customers who have made our first year such a special one," said Dwaipayan Sadhu, chief executive officer of Trust, commenting on the bank's first year anniversary.

ALSO READ: Singapore’s Trust Bank exceeds 450,000 customers in 5 months

This is just the beginning for us. We will continue to improve so that our customers benefit from being with Trust and enjoy an innovative and delightful experience," Sadhu added.

To celebrate, Trust is giving away 100,000 bags of FairPrice rice in September, as well as two Tesla cars.

The bank is also offering “birthday” coupons, teaming up with Burger King, Doctor Anywhere, Domino’s Pizza, Gojek, Gong cha, KFC, Kith Café, Kopitiam, Samsung, ShopBack and TADA.

This September, Trust is also doubling its referral rewards: a S$20 FairPrice e-voucher each time a user makes a successful referral. Each referral also gives you 10 chances at winning a Tesla, with no limit on how many referrals you can make.