The partnership, however, spurned Oversea-Chinese Banking Corp (OCBC), which had run co-branded cards with the NTUC FairPrice supermarket chain for 18 years. OCBC’s Plus! card partnership with NTUC will expire at the end of January 2023.
After decades of carving out a niche serving the affluent market here, Standard Chartered Bank (StanChart) surprised locals with the launch of its digital banking joint venture Trust Bank on Sept 1.
The bank’s tie-up with FairPrice Group boasts connections to the latter’s loyalty programme Link Rewards, while Trust Bank’s savings account promises a base interest rate of 1% p.a. on deposits up to $50,000. The product suite also includes the Trust credit card and family personal accident insurance by Income, another key piece of NTUC.
