Singapore Expats

Singapore now has 3 full-fledged online-only banks (Trust, GXS, Mari). I normally don’t jump on the bandwagon too quickly, due to the hassle involved and the uncertain longevity of anything new like this.

However, one of them has piqued my interest with their no fee credit card. Not just no annual fee, but no foreign transaction fees when spending overseas — that is an absolute first of its kind here.

Trust (backed by StanChart & NTUC) is the one offering this card. It seems like a no-brainer for anyone that travels. Has anyone tried it? What has been your experience?

This is Interesting. Is there any minimum deposit for Trust? Somehow such new banks don't instill much confidence for me.

Would like to know the experience too. And if there is any hidden costs for their credit card.

No min deposit for saving account
Interest is 1.5%

If you apply credit card or open saving account and have referred code. You will get $10 NTUC voucher.

I have this card when it launched last yrs.
Use for my oversea at Dubai , Morocco, Jordan .

I check XE immediately after I use my card.
The exchange rate is almost match to XE.

No fee.

If you need the refer code. Can PM me.

Sent from my CPH2305 using Tapatalk

Thank you!

The card will come in handy on my upcoming trip.

Meantime, I go read more about it. Shall PM you when applying. Thanks again.

Have you checked out Revolut? Their card has no overseas fees if I understand right.

No. I didn't.

I get TRUST because I'm NTUC Union Members.
When OCBC-NTUC cancel. TRUST is the only way for NTUC Union member.
Further, for saving account. Base interest is 1.5%, just do 5 transaction any amount. member will get extra 1% while non-member get extra 0.5% ontop of base interest.

Especially they offer
No annual fee
No foreign transaction fee (not even 1% Visa charges)
No cash advance fee

Add point to me.

The only con at this time is the sup card. Sup card holder need to open saving account inorder I can get sup card to my parent.

I use TRUST card to earn linkpoint while my parents use my NTUC card.

tiktok wrote: ↑

Wed, 25 Oct 2023 7:45 am

Have you checked out Revolut? Their card has no overseas fees if I understand right.

In the past I’ve looked into cards like Revolut, YouTrip, etc… but lost interest after learning about the hoops you need to jump through. I just don’t have the inclination or talent to be a hoop jumping circus monkey. This Trust card appears to be a straightforward credit card, no fuss, no fees.

therat wrote: ↑

Wed, 25 Oct 2023 12:22 am

No min deposit for saving account
Interest is 1.5%

If you apply credit card or open saving account and have referred code. You will get $10 NTUC voucher.

I have this card when it launched last yrs.
Use for my oversea at Dubai , Morocco, Jordan .

I check XE immediately after I use my card.
The exchange rate is almost match to XE.

No fee.

If you need the refer code. Can PM me.

Sent from my CPH2305 using Tapatalk

Have you tried using their debit card at an overseas ATM to get cash? Was it also no fee and good rate?

malcontent wrote: ↑

Wed, 25 Oct 2023 11:50 am

therat wrote: ↑

Wed, 25 Oct 2023 12:22 am

No min deposit for saving account
Interest is 1.5%

If you apply credit card or open saving account and have referred code. You will get $10 NTUC voucher.

I have this card when it launched last yrs.
Use for my oversea at Dubai , Morocco, Jordan .

I check XE immediately after I use my card.
The exchange rate is almost match to XE.

No fee.

If you need the refer code. Can PM me.

Sent from my CPH2305 using Tapatalk

Have you tried using their debit card at an overseas ATM to get cash? Was it also no fee and good rate?

I didnt use oversea ATM. But I did message TRUST.


Using CC to withdrawn $ and this is their reply

Hi XXX, good news! There is no cash advance fee.

However, you will incur finance charges for the cash advance, calculated on a daily basis at 0.074% (26.9% p.a.) on the amount withdrawn from the date of the transaction until the date of full payment.

Hope this answers your question!


about withdrawal $$ from saving account
Hi XXX , thanks for reaching out. Trust will not charge a fee however, the overseas bank that operates the ATM may charge.

therat wrote: ↑

Wed, 25 Oct 2023 2:02 pm

malcontent wrote: ↑

Wed, 25 Oct 2023 11:50 am

therat wrote: ↑

Wed, 25 Oct 2023 12:22 am

No min deposit for saving account
Interest is 1.5%

If you apply credit card or open saving account and have referred code. You will get $10 NTUC voucher.

I have this card when it launched last yrs.
Use for my oversea at Dubai , Morocco, Jordan .

I check XE immediately after I use my card.
The exchange rate is almost match to XE.

No fee.

If you need the refer code. Can PM me.

Sent from my CPH2305 using Tapatalk

Have you tried using their debit card at an overseas ATM to get cash? Was it also no fee and good rate?

I didnt use oversea ATM. But I did message TRUST.


Using CC to withdrawn $ and this is their reply

Hi XXX, good news! There is no cash advance fee.

However, you will incur finance charges for the cash advance, calculated on a daily basis at 0.074% (26.9% p.a.) on the amount withdrawn from the date of the transaction until the date of full payment.

Hope this answers your question!


about withdrawal $$ from saving account
Hi XXX , thanks for reaching out. Trust will not charge a fee however, the overseas bank that operates the ATM may charge.

Thanks, I was just reading that their cc and debit card are one and the same, and you have to select ‘savings’ when you withdraw from an ATM to use cash rather than credit.

I also read that in Singapore you can only use StanChart ATMs for now, not ATM5. One last thing that surprised me, they don’t have a way to auto-pay the cc balance yet. I’d assume they would in the future.

Depending where you travel, some countries have no fee, some have a flat regulated fee across all ATMs, and other countries it varies widely. It’s usually better fee-wise to use a bank ATM rather than a no-name, and you have to watch out for ATMs that do currency exchange, they’ll get you with a horrible rate.

tiktok wrote: ↑

Wed, 25 Oct 2023 7:45 am

Have you checked out Revolut? Their card has no overseas fees if I understand right.

I believe there are fees for transferring money though.

malcontent wrote: ↑

Wed, 25 Oct 2023 11:48 am

tiktok wrote: ↑

Wed, 25 Oct 2023 7:45 am

Have you checked out Revolut? Their card has no overseas fees if I understand right.

In the past I’ve looked into cards like Revolut, YouTrip, etc… but lost interest after learning about the hoops you need to jump through. I just don’t have the inclination or talent to be a hoop jumping circus monkey. This Trust card appears to be a straightforward credit card, no fuss, no fees.

What hoops, both seem to be fairly straightforward

Lisafuller wrote: ↑

Thu, 26 Oct 2023 1:21 pm

malcontent wrote: ↑

Wed, 25 Oct 2023 11:48 am

tiktok wrote: ↑

Wed, 25 Oct 2023 7:45 am

Have you checked out Revolut? Their card has no overseas fees if I understand right.

In the past I’ve looked into cards like Revolut, YouTrip, etc… but lost interest after learning about the hoops you need to jump through. I just don’t have the inclination or talent to be a hoop jumping circus monkey. This Trust card appears to be a straightforward credit card, no fuss, no fees.

What hoops, both seem to be fairly straightforward

The very first hoop is loading money on the card, effectively it’s a prepaid debit card that is multi-currency. In case it is not immediately apparent, once you load money onto the card, unless you spend every last cent, yes, another hoop to jump through to sweep out any remaining balance (though I am sure they would prefer you just leave it in there).

With a credit card, you don’t have to worry about loading or unloading money or trying to catch a good exchange rate when you do — foreign currency charges are converted to SGD as and when you charge things, so it’s a no-brainer. And, since Trust doesn’t charge a foreign transaction fee (typically 3.5% here, which is just horrible) and also doesn’t pass through the additional 1% fee that Visa charges, you save quite a lot.

Up to now I’d been using my Capital One card anytime I buy things outside Singapore. It also has no foreign transaction fees and decent cash back. I was actually one of the founding members who applied for the Savor card when it first came out, a card that now has an annual fee, but they grandfathered me and let me “savor” all of the benefits for free, including a nice metal card. Although I have mixed feelings about Capital One, I am sticking with them, for now.

The other scenario that I see Trust Bank working well for is a move out of Singapore for any length of time. I plan to cancel all of 3 of my credit cards with annual fees, because I won’t be using them and won’t want to mess around with annual fees or waiver attempts.

This card has no annual fee, and I could even use it overseas from time to time with no real sacrifice in exchange rate. I see it being my “keeper card” similar to my US Citibank card which I’ve kept all these years, since I first moved in 1996 (originally Dividend, now DoubleCash).

If/when I move back here, I will be retired and it won’t be as easy to get a credit card, so hopefully Trust is here to stay. Early indications seem positive.

I used trust for a week. After multiple lock outs and being accused of being a money launderer by Trust I cancelled it. The back end is dismal.

Any free fees will disappear eventually anyways.