[AI] Trust Bank Singapore: Features, Benefits and Why It’s One of Singapore’s Most Popular Digital Banks
Singapore’s banking landscape has changed significantly in recent years, with digital banks making everyday banking more convenient, transparent and rewarding. Among the names that have gained significant attention is Trust Bank Singapore.
Backed by Standard Chartered Bank and FairPrice Group, Trust combines traditional banking expertise with a digital-first experience designed around everyday spending, saving and financial management.
In 2025, Trust reported that its customer base had surpassed 1 million customers, representing more than 20% of Singapore’s adult population. The bank also reported receiving recognition as Singapore’s Best Digital Bank for Consumers by Euromoney and as the top mobile banking app for a digital bank globally by The Digital Banker.
So, what makes Trust Bank so popular? Let's take a closer look.
What Is Trust Bank?
Trust Bank is a Singapore digital bank that operates through its mobile app rather than a traditional branch-based banking model.
The bank was created through a partnership between Standard Chartered and FairPrice Group. This gives Trust a combination of banking expertise and access to the FairPrice ecosystem, which is particularly relevant for Singapore consumers who regularly spend on groceries, food and everyday essentials.
The idea behind Trust is relatively simple: make banking easier to use while giving customers more value from their everyday financial activities.
Key Features of Trust Bank Singapore
1. Trust Savings Account
The Trust Savings Account is designed for customers who want a digital savings account with flexible ways to earn interest.
Trust currently offers different savings plans, with eligible customers able to earn up to 2.4% p.a. on qualifying deposits, subject to the applicable conditions and plan requirements. Customers can also change their savings plan through the Trust App.
Another useful feature is Savings Pots. Customers can create up to five separate pots within the app to set aside money for goals such as holidays, renovations, weddings or other major purchases.
2. FairPrice Group Savings and Rewards
One of Trust's major differentiators is its connection with FairPrice Group.
Eligible Trust cardholders can receive savings and rewards when spending at participating FairPrice Group businesses. Depending on the card, membership status and applicable spending requirements, Trust advertises savings of up to 21% through its Linkpoints programme.
For people who frequently shop for groceries or spend on everyday essentials, these rewards can make the banking relationship more relevant to their regular spending.
3. One Card With Debit and Credit Functions
Trust offers a Smart Switch feature that allows eligible customers to switch between debit and credit spending through the Trust App.
Instead of carrying separate cards for different purposes, customers can switch the card pairing digitally with a tap.
This can be particularly convenient for people who want greater control over whether a particular purchase comes from their available savings balance or credit facility.
4. Instant Rewards and Partner Offers
The Trust App includes a rewards section where customers can discover coupons, promotions and stamp-card rewards from participating merchants.
Customers can discover offers, save coupons and redeem them through the app, making the banking app more than simply a place to check balances and transactions.
5. Savings Pots and Trust Lock
Trust also focuses on helping customers protect money that they have set aside.
Its Trust Lock feature can be used with Savings Pots to add an additional layer of protection against unauthorised withdrawals. When a pot is locked, customers can continue adding money, while withdrawing requires the appropriate security steps and a 12-hour cooling period.
This can be useful for people who want to separate their savings from their everyday spending money.
6. Strong Digital Security Features
Security is an important consideration when choosing a digital bank.
Trust provides features including transaction notifications, biometric authentication, Trust Key authentication for high-risk transactions, 3D Secure for online card payments, card lock/unlock functionality and controls for overseas and online transactions.
Trust also offers a numberless physical card, while card details such as the card number, CVV and expiry date can be accessed through the app.
7. TrustInvest
Trust has expanded beyond conventional savings and payments with TrustInvest, its digital wealth platform.
Trust reported launching its digital wealth platform in 2025, initially offering funds before subsequently introducing US stocks and ETFs trading.
This gives customers the ability to access savings, spending and selected investment products within the broader Trust ecosystem.
8. Trust+ for Higher-Balance Customers
For customers with larger savings and investment balances, Trust offers Trust+.
Eligible customers who maintain at least S$100,000 in qualifying balances across their Trust Savings Account and/or TrustInvest account can receive additional benefits, including enhanced interest opportunities, selected privileges, VIP support and a metal card.
Benefits of Using Trust Bank
Convenience
Because Trust is digitally native, customers can manage many banking activities directly through the mobile app without needing to visit a physical branch.
Opening and managing accounts, checking transactions, managing cards and monitoring rewards can all be handled digitally.
Potentially Attractive Savings Rates
Trust's savings proposition can be attractive to customers who are prepared to meet the requirements attached to its interest-earning plans.
The advertised rate can be up to 2.4% p.a., but customers should always check the current eligibility criteria and terms because interest rates and qualifying activities can change.
Everyday Rewards
The connection with FairPrice Group is one of Trust's distinctive features. Customers who regularly spend within the FairPrice ecosystem may find the rewards particularly relevant to their everyday expenses.
Integrated Financial Services
Rather than focusing solely on deposits, Trust brings together savings, cards, payments, rewards, loans, insurance and investment products within its digital ecosystem.
Security Controls
Digital banking requires strong security, and Trust provides several tools that allow customers to monitor and control their accounts and cards directly from the app.
Why Is Trust Bank So Popular in Singapore?
It would be more accurate to describe Trust as one of Singapore's most widely used digital banks rather than simply declaring it the "most popular" bank.
The numbers nevertheless demonstrate substantial adoption. Trust reported that its customer base exceeded 1 million in 2025, equivalent to more than 20% of Singapore's adult population. Its customer base grew 15% year-on-year during 2025.
Several factors help explain this growth.
A Familiar Banking Partner
Trust is backed by Standard Chartered, an established banking institution with a long history in Singapore, while FairPrice Group brings a strong connection to consumers' everyday shopping habits.
Designed Around Everyday Spending
Rather than treating banking and shopping as completely separate activities, Trust connects banking rewards with everyday expenses such as groceries, food and fuel.
This approach makes the benefits easy for many customers to understand and use.
Mobile-First Experience
Trust was built as a cloud-based, digitally native bank. Its emphasis on app-based banking means customers can manage their financial products and rewards from one place.
Rewards and Referrals
Trust also has a referral programme that encourages existing customers to invite new customers. According to Trust's current referral programme, eligible referrals can receive rewards, with the specific reward depending on the product and applicable terms.
This referral-driven model can also contribute to word-of-mouth awareness among Singapore consumers.
Should You Consider Trust Bank?
Trust Bank can be worth considering if you value:
Mobile-first banking
Competitive savings opportunities
FairPrice Group-related rewards
Integrated debit and credit card functionality
Digital security controls
Savings Pots for financial goals
Investment options within the same ecosystem
Digital rewards and merchant promotions
As with any financial product, it is important to review the latest interest rates, fees, eligibility requirements and product terms before opening an account. Interest rates and promotional offers can change over time.
Sign Up With a Trust Bank Referral Code
If you are new to Trust Bank and are considering opening an account, you can use the following referral code:
Referral Code: NG4KGSR3
Using a referral code may make you eligible for applicable referral rewards, depending on the Trust product you sign up for and the promotion available at the time. Trust's official referral programme states that rewards and eligibility are subject to its terms and conditions.
Before signing up, check the latest promotion details in the Trust App or on the official Trust Bank website to confirm the current offer and eligibility requirements.
Final Thoughts
Trust Bank has established itself as a significant player in Singapore's digital banking market by combining everyday banking with savings, rewards, payments and financial services.
Its partnership with Standard Chartered and FairPrice Group, mobile-first approach, savings features, FairPrice-related rewards and digital security tools have helped it build a customer base of more than one million.
For Singapore consumers looking for a digital banking experience that combines banking and everyday rewards, Trust is certainly a bank worth exploring.
Thinking of signing up? You can use referral code NG4KGSR3 when eligible.
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