What are the rebates like for the SAFRA-DBS Debit Card? Are they any good?

There is up to 2% cash rebate for the SAFRA DBS debit card. With a minimum spending of $400, you are entitled to 2% cash rebate on your local mastercard contactless transaction, 1% cash rebate on online transactions and 0.3% on any other retail transaction. If you are a full time NSF, there is no minimum spending required to earn this cash rebate.

All the cash rebate earned will be in the form of SAFRA points and there is a maximum of 50 SAFRA$ every month for each account.

Take note that $1 SAFRA point equal to S$1.

Hey Anon, to qualify for the rebates, she'll have to spend a minimum of $400 every month to enjoy the following:

• 2% rebate on Mastercard PayPass (contactless payment)

• 1% rebate on online transactions

• 0.3% rebate on retail transactions

In my opinion, the minimum spending to enjoy the rebates is quite high. Also, take note that the cash rebate is in the form of SAFRA points, which means that it can only be redeemed at the 6 SAFRA clubhouses.

Alternatively, if your daughter is between 18 to 26 years old, she can go for the Standard Chartered Jumpstart account which comes with a debit card that offers 1% rebate on all spending, no minimum spending required.