Trust Bank, one of Singapore’s fastest-growing digital banks, marks its second anniversary with a remarkable achievement – over 800,000 customers, representing approximately 16% of the adult population in Singapore. This milestone cements Trust’s position as a key player in the local banking landscape, driven by strong customer endorsements and innovative product offerings.

Since its launch, Trust Bank has experienced rapid growth, with 70% of its sign-ups coming through customer referrals. This strong word-of-mouth has made Trust the highest-rated bank on the Singapore Apple App Store. “We are humbled by the response from our customers,” said Dwaipayan Sadhu, Chief Executive Officer of Trust. “Our focus has always been on creating a banking experience that is easy, transparent, and rewarding.”

Introducing the Trust Cashback Card

To celebrate its second anniversary, Trust has launched a new cashback card that promises to stand out in a crowded market. The Trust Cashback card offers instant cashback credit, real-time earnings tracking, and the ability to pay a consolidated bill for those who hold both the Trust Link and Cashback cards.

What sets the Trust Cashback card apart is its quarterly bonus rate of up to 15% on preferred spend categories, alongside exclusive deals with popular brands like Agoda, Caltex, CDG Zig, Deliveroo, and KFC. New Trust customers can enjoy an unlimited 1.5% cashback on all spending with no caps until 31 December 2024, while existing customers receive 1%.

Trust Bank’s second year has been marked by significant financial achievements. Customer deposits reached S$3 billion by the end of June 2024, a 2.6-fold increase compared to the previous year. The bank has also issued over S$4.5 billion worth of transactions, making it the fastest-growing Singapore Financial Institution card issuer for domestic and cross-border spending in the past year, according to Visa data.

“We are on track to becoming Singapore’s fourth largest retail bank by customer numbers by the end of this year,” Sadhu added. “As we continue to grow, we remain committed to delivering more delightful experiences to our customers.”

A Chance to Become a Millionaire

In addition to the launch of the Cashback card, Trust Bank is offering a S$1 million giveaway to one lucky customer. To participate, customers simply need to sign up for the new Trust Cashback card and refer a friend or family member. Each referral increases the chances of winning, with the draw scheduled for 16 January 2025.

As a sign-up promotion, new customers will also receive up to three digital scratch cards through the Trust app, offering guaranteed cashback rewards of up to S$3,000.