DBS has launched a new promotion that offers an easy S$500 cash for crediting your salary and spending on your DBS/POSB credit or debit cards for three consecutive months.
This covers all types of cards, so if you’re a regular spender on your DBS Altitude or DBS Woman’s World Card, it’s basically free money provided you can easily switch salary crediting arrangements.ย
DBS Salary & Spend promotion
The DBS Salary & Spend promotion runs from 7 August to 31 October 2024. Registration is required, and can be done via the landing page.
The S$500 cash reward is split into two components: salary crediting and card spend.ย
Salary crediting: S$300 cash
Customers who credit a minimum salary of S$1,600 for three consecutive months to their DBS/POSB SGD-denominated account will receive a S$300 cash reward.ย
The following terms apply:
- Salary must be paid via GIRO with the code SAL/PAY,ย and the first salary credit must take place by 31 October 2024 (it’s fine if the second and third come after that).
- Customers must not have had a salary crediting arrangement linked to any DBS/POSB account from 1 February to 31 July 2024
- Joint accounts are eligible for this promotion, but each joint account will only be eligible for one cash reward, regardless of the number of names on it.ย
If you run your own business with a business bank account, then crediting your salary to DBS/POSB isย a simple matter of a few mouse clicks.
If, on the other hand, you need to go through the circle of hell that is HR, DBS has kindly provided a model answer template to ease your pain.
| ย | To: Human Resources, Office-in-charge Request for change in salary credit account I would like to change my existing salary crediting bank account to my DBS/ POSB Account. Please refer to the following details: Existing Salary Crediting Bank Account Bank: XXX Name of Account Holder: XXXXXX Account Number: XXX-XXXXXXX-XXX New DBS/ POSB Salary Crediting Bank Account Bank: XXX Name of Account Holder: XXXXXX Account Number: XXX-XXXXXXX-XXX Thank you. Name: NRIC / Passport Number: Staff ID Number: Contact Details: |
I do actually prefer mine though.ย
| ย |
Culturally-sensitive and gender-neutral salutations, glorious HR department! PFA updated bank details for salary crediting. Please revert after doing the needful. |
Card spending: S$200 cash
In addition to the S$300 cash reward for salary crediting, DBS/POSB cardholders can earn an extra S$200 cash rewardย by spending at least S$500 monthly for three consecutive months.
The spend period begins from the monthย afterย your first salary credit, as shown in the table below.
| First Salary Credit | Card Spend Period |
| Aug 24 | Sep, Oct, Nov 24 |
| Sep 24 | Oct, Nov, Dec 24 |
| Oct 24 | Nov, Dec 24 and Jan 25 |
The following terms apply:
- Spending need not be on a single card, and both credit and debit card spending is eligible.
- Supplementary cardholder spend will be accorded to the principal cardholder
- Spending must be charged within the relevant calendar month and posted by the 7th of the following month
- Regular spending exclusions apply, such as charitable donations, education, insurance premiums, government payments and utilities bills. The full list can be found at point 7 of the T&Cs.ย
For avoidance of doubt, you cannot have just the card spending component without the salary crediting. The salary crediting is a pre-requisite for the card spending component.ย
When will the reward be issued?
Customers who meet the eligibility criteria can expect to receive their cash rewards according to the following timeline.
| Salary Credit | Credit/Debit Card Spend | Reward Credited |
| Aug to Oct 24 | Sep to Nov 24 | By 31 Jan 25 |
| Sep to Nov 24 | Oct to Dec 24 | By 28 Feb 25 |
| Oct to Dec 24 | Nov 24 to Jan 25 | By 31 Mar 25 |
The reward will be automatically credited to the salary crediting account.
Terms & Conditions
The T&Cs of this promotion can be found here.
Is it worth it?
This promotion is a no-brainer from where I sit.ย The salary crediting is a simple administrative task, and since I’m going to be spending on my DBS Woman’s World Card every month anyway, it’s basically S$500 free cash on a combined spend of S$1,500, on top of the usual 4 mpd.ย
Of course, some of you may be dealing with HR departments which are less…approachable about such things, and in that case you have my deepest commiserations.ย
DBS credit card welcome offers
If you don’t have a DBS credit card yet, a reminder that there’s an ongoing SingSaver promotion that offers welcome gifts worth up to S$599 upon approval and a minimum spend of S$500 within 30 days.ย
Refer to the post below for the full details and promo code to apply with.
DBS x SingSaver welcome offers: Enjoy gifts worth up to S$599 for new cardholders
Conclusion
DBS and POSB customers can register to earn an easy S$500 by switching their salary crediting arrangement and spending S$500 per month on their cards.ย
You’ll need to credit the first of three salary payments by 31 October 2024 and meet the minimum spend for three consecutive months following that, but it’s otherwise pretty straightforward.ย
Sadly I’m not eligible for the $300 since my salary is already coming to my DBS account.
Am I still eligible for the $200 for $500 *3 months spend though?
It is mentioned that you cannot have only the credit card component.
Does getting salary via PayNow work so that I can transfer $1,600 to my DBS account via PayNow and set the category to Salary?
cannot. salary must be paid via GIRO
Hi Melvin, is there a way to get around, e.g., making a transfer in a certain way to make it look like GIRO?
sir I can’t register when I entered my mobile number on the dbs page
Do I qualify if I already am crediting my salary to DBS?
did you even bother reading the article?
pls don’t ask stupid questions…. read the article.
I did not receive a confirmation email after I registered. Tried a few times, still the same. Anyone who received confirmation email here?
I would assume then that as long as anyone who has satisfied the multiplier account salary crediting category via any means from 1 Feb to 31 Jul will not be eligible for this promotion.
yes, you do not qualify. It is for those who are not crediting from the period mentioned.
Posb everyday card counted?
Dont be lazy, read the T&Cs.
The Promotion is applicable to all POSB/DBS personal Principal Credit and Debit Cards (โQualifying Cardsโ). Spend incurred by supplementary cardmembers will be accorded to the Principal Credit Cardmember.
Just join this for 3 months and change back to OCBC or UOB after. Free money just take first. Not worth to stick with DBS without this imho
Does the DBS account have to be Multiplier? I only have an esavings account currently.
Noted that there is a 2 months time gap between the reward crediting and the last month of spending. Can we switch back to original salary credit account like OCBC, UOB once fulfilling the last month of spending? Or must wait another 2 months till the reward is credited before switching back? I tried to read the T&Cs and it seems like the latter. Thought it would be good to seek this clarification in case people switch back the salary credit account after fulfilling the credit spend conditions but fail to get the reward as the salary credit arrangement was… Read more »