Details: DBS Vantage limo rides and annual fee waiver for Treasures customers

DBS recently announced several upcoming changes to the DBS Vantage Card, which will take effect from 2 November 2026. 

The bad news is that the local earn rate will be cut from 1.5 mpd to 1.4 mpd. While this may seem like a small reduction in absolute terms, it comes on the back of two other recent devaluations: the removal of annual fee waivers for cardholders who spend S$60,000 in a membership year, and the nerfing of ALL Accor+ Explorer benefits during the transition from Accor Plus.

But there’s a silver lining for DBS Treasures customers, who will soon enjoy four annual complimentary airport limo transfers. And if they have Accredited Investor (AI) status, they will also receive a perpetual waiver of the card’s S$599.50 annual fee.

Over the past week, I’ve managed to get some additional clarity on how these benefits will be accorded. That said, some details will only be revealed in November 2026, so we’ll need to wait until then for the final confirmation.

New DBS Vantage benefits for Treasures customers

DBS Vantage Card
	Regular	DBS Treasures Non-AI	DBS Treasures AI
25,000 Annual Miles	✅	✅
10x Priority Pass	✅	✅	✅
ALL Accor+ Explorer	✅	✅	✅
4x Limo Rides		✅	✅
Annual Fee Waiver			✅

From 2 November 2026, DBS Vantage cardholders with DBS Treasures status will be entitled to two additional DBS Vantage benefits:

• Four airport limo rides (AI and non-AI)
• Annual fee waiver (AI only)

First things first: these benefits do not apply to DBS Treasures Private Client (TPC) customers.

Yes, I know that’s strange. It takes at least S$1.5M of AUM to become a DBS TPC customer, more than four times the S$350,000 of DBS Treasures. And yet, a DBS Vantage cardholder with DBS Treasures status gets more benefits than a cardholder with DBS TPC status (though they’re probably holding an Insignia anyway…).

Even with the DBS Private Access programme in the picture, a DBS TPC customer would need at least S$2.5M AUM to get the same four free limo rides as a DBS Treasures customer!

It may seem illogical, but in reality, each business unit makes its own decisions as to benefits and charges. The closest analogy I can think of is OCBC, where OCBC Premier Private Client (PPC) customers (AUM: S$1.5M) enjoy a waiver on the OCBC PPC VOYAGE Card and unlimited airport limo transfers, while BOS customers (AUM: US$5M) do not.

Four airport limo rides

DBS Treasures customers will enjoy four complimentary airport limo rides through their DBS Vantage Card.

We’ll need to wait until November 2026 to learn the full details, including which company provides the limo service and what surcharges apply for late-night bookings, child seats etc. However, I’ve been able to confirm that:

• The entitlement will follow the card membership year
• No minimum spend or purchase of investment/insurance products will be necessary to unlock the benefit

Annual fee waiver

DBS Treasures customers with AI status will enjoy a perpetual annual fee waiver for the DBS Vantage Card, whether in the first or subsequent years. They will not receive the 25,000 annual miles, though all things considered, I’d rather save the S$599.50.

What I’m still trying to clarify is how this benefit will be implemented for customers who are midway through their current membership year. If I had to guess, I’d say it’s far more likely that the waiver will only kick in from the next membership year, rather than them receiving a pro-rated refund of the current year’s annual fee.

How do you qualify for DBS Treasures?

DBS Treasures requires a minimum AUM of S$350,000 with DBS, though this requirement may sometimes be lowered or waived for selected customers (see below).

A S$50 monthly service fee (consolidated and deducted quarterly) will be charged if your AUM falls below S$200,000.

It’s not clear how joint accountholders will be treated, if they both have DBS Vantage cards — that’s something we’ll need to wait on for now.

What is an Accredited Investor?

To become an AI, you must satisfy at least one of the following requirements:

• Personal income of at least S$300,000 in the past 12 months
• Net personal assets of at least S$2M (of which the net value of your primary place of residence can only contribute up to S$1M)
• Net financial assets of at least S$1M

If you’re qualifying through the second or third criteria, there is no requirement that these assets be placed with DBS. For example, if you’re already a Standard Chartered Priority Private customer (min. AUM S$1.5M), you could show your DBS Treasures RM a printout of your account balance to qualify for AI status with DBS.

AIs have access to a wider range of investments, but also forgo the benefit of certain regulatory safeguards, as it’s assumed that you have a better understanding of the risks of investing.

If you’re an existing DBS Treasures customer, you can opt in for AI status through the digibank mobile app. 

• Log in to the digibank mobile app
• Tap on the Invest tab > Investment Profile
• Scroll down to the investment eligibility card and tap the opt-in button under Accredited Investor

What about DBS Treasures customers with an AUM waiver?

Selected DBS customers may have received an invitation to experience Treasures with the AUM requirement waived for a certain period.

Now, it would be incredible if “Temu Treasures” customers were able to enjoy the additional Vantage perks — because I’m one of them! — but unfortunately, DBS has confirmed this will not be possible.

Only DBS Treasures customers who meet the S$350,000 AUM will be entitled to the airport limo rides and annual fee waiver.

Conclusion

DBS Vantage cardholders with DBS Treasures status will enjoy enhanced benefits from 2 November 2026, namely four airport limo rides and an annual fee waiver.

What’s been confirmed so far is that these benefits are for Treasures customers only (and not TPC), and that they will need to be fully funded with S$350,000 AUM to qualify.

What remains to be confirmed is how joint accounts will be treated, how the annual fee waiver will be handled for cardholders midway through their membership year, and how the limo benefit will be administered.

Stay tuned.