Friday, October 4

Trust Bank Empowers Customers with AutoPay for Hassle-Free Credit Card Repayments

Trust Bank, Singapore’s digital bank, has rolled out AutoPay, a new feature aimed at simplifying credit card repayments for its users. This development allows Trust Bank customers to set up automatic repayments for their credit cards with just a few clicks, provided they have a savings account.

Introducing Trust Bank’s AutoPay Feature

Trust Bank’s AutoPay feature offers a straightforward setup process. Customers who have a Trust credit card and savings account can activate AutoPay in a matter of seconds. Even those without a savings account can open one quickly, with an account opening experience that takes approximately one minute.

Benefits for Savings Account Holders: Interest Rates and Insurance Coverage

In addition to the convenience of automatic repayments, Trust Bank’s savings account holders can benefit from an attractive interest rate of up to 3.0% per annum. It’s worth noting that Singapore dollar deposits of non-bank depositors are insured up to S$75,000 per depositor, per scheme member, in accordance with Singapore Deposit Insurance Corporation regulations.

Managing Salary Credits and Government Cash Payouts with Trust Bank

Moreover, Trust Bank has introduced the capability to receive incoming GIRO payments directly into Trust accounts. This feature simplifies the management of salary credits and government cash payouts for customers. To set up salary crediting, customers only need to inform their employer to update their designated salary crediting account to Trust Bank. For government cash payouts, customers are advised to register their NRIC for PayNow.

Customer Perspectives: Feedback on Trust Bank’s AutoPay Feature

Tarun Punjabi, Product Lead for Payments and Innovation at Trust Bank, emphasized the importance of making automated credit card repayments quick and simple, expressing their commitment to creating an easy and enjoyable customer experience. Michal Bialer, Chief Product Officer at Trust Bank, noted their dedication to delivering innovative capabilities that add value to their customers’ daily banking needs while prioritizing simplicity, transparency, and rewards.

Trust Bank’s Focus on User Experience and Innovation

Overall, Trust Bank’s introduction of the AutoPay feature and other convenient banking capabilities aims to enhance the banking experience for its customers, providing them with greater control, convenience, and rewards when managing credit card repayments and conducting financial transactions. The focus on user experience and innovation sets Trust Bank apart in the digital banking landscape, ensuring a seamless and satisfying banking journey for its users.

Also Read: The Economics of Holi: Celebrating Color, Culture, and Commerce


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