Trust Bank Referral Code 2GG9T8K3: Is It Actually Worth Switching From DBS, OCBC, or UOB?

I get asked this a lot by people still parking their main account at one of the Big 3 out of habit rather than any real comparison. I'm not going to pretend I have DBS's or OCBC's exact current rates memorised — those change and you should check them directly — but here's the structural comparison that actually matters when deciding whether to open a Trust account alongside (or instead of) your existing one.

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The honest starting point: this isn't really an apples-to-apples switch

Trust Bank isn't trying to replace a full-service bank with a branch network, wealth management arm, and mortgage desk. It's a digital-first account built for everyday spending, saving, and simple credit — so the more useful question usually isn't "which bank is better" but "does a digital-only account fit how you actually bank."

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Where Trust structurally differs from the Big 3

• No branches, ever. Everything happens in-app. If you specifically need in-person service, safe deposit boxes, or complex wealth advisory, that's a real gap Trust doesn't try to fill.
• Tiered, activity-based savings interest instead of one flat published rate. Trust's Flex plan lets you stack up to 3 of 8 bonus scoops (salary crediting, referrals, balance thresholds, and more) toward up to 2.40% p.a. — a genuinely different model from a bank publishing one flat base rate plus a few standard bonus conditions.
• No annual fee, ever, on their credit cards. This is a real structural difference from many traditional bank cards that waive the fee conditionally or only for the first year or two.
• Zero FX fees on card spend, versus the standard 3%-ish foreign transaction markup common across most traditional bank cards.
• Referral programme with an uncapped, scratch-card-based upside rather than a flat referral bonus — currently S$50 to S$8,000 for referring a credit card sign-up.

Where the Big 3 still generally have an edge

• Physical branch access for anything requiring in-person verification, cashier's orders, or complex account issues
• Broader wealth management, unit trusts, and structured product shelves if you're doing more sophisticated investing
• Longer track record and larger balance sheets, which matters to some people psychologically even though Trust itself is SDIC-insured up to S$100,000 like any other bank
• Mortgage and larger secured lending products that Trust doesn't currently offer in the same way

A genuinely fair way to think about it

Most people I know who've made the switch didn't close their DBS/OCBC/UOB account entirely — they moved their everyday spending and a chunk of savings to Trust for the better card economics and activity-based interest, while keeping their original bank open for things like GIRO arrangements already set up, or in case they need branch access for something specific. Running both isn't inefficient; it's arguably the more common real-world pattern than a clean switch.

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If you want to try Trust alongside your existing bank

1. Download the Trust Bank SG app
2. Enter referral code 2GG9T8K3 at the very first "Get Started" screen
3. Open a Savings Account, or apply for the Freedom/Trust Link credit card if you want in on the current sure-win scratch card promo (S$18–S$8,000, running until 31 Oct 2026)
4. Keep your existing bank open for anything Trust doesn't cover — no rule against running both

👉 Referral Code: 2GG9T8K3

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If anyone's actually gone fully digital and closed their traditional bank account entirely, genuinely curious what you ran into that people considering the same move should know about.