DBS Treasures Vantage Programme: Enjoy free limo rides and an annual fee waiver

Back in September, DBS announced some upcoming changes to the DBS Vantage Card, which were bad news for regular cardholders — but potentially exciting for DBS Treasures customers.

Those changes took effect on 2 November 2026, and while the local earn rate has now been cut from 1.5 mpd to 1.4 mpd, DBS Treasures customers now enjoy four complimentary airport limo rides, and an annual fee waiver for those with Accredited Investor (AI) status.

The (very convoluted) terms and conditions for these additional benefits have also been published, and the key thing to know is that DBS Treasures customers must maintain an AUM of S$350,000, not just in the run-up to qualification, but for the 12-month period afterwards. 

Also, it’s interesting to note that DBS has only committed to offering these benefits until 31 March 2027. This could be further extended, of course, but suggests they’re taking a very cautious approach initially.

DBS Vantage Card
	Regular	DBS Treasures Non-AI	DBS Treasures AI
Earn Rates	1.4 mpd (SGD) 2.2 mpd (FCY)
25,000 Annual Miles	✅	✅	Clawed back upon fee reversal
10x Priority Pass	✅	✅	✅
ALL Accor+ Explorer	✅	✅	✅
4x Limo Rides		✅	✅
Annual Fee Waiver			✅

Overview: DBS Treasures Vantage Programme

FAQs

The airport limo rides and annual fee waiver are offered under the new DBS Treasures Vantage Programme.

To qualify for these benefits, customers must have a principal DBS Vantage Card, an active DBS Treasures relationship, and a minimum AUM of S$350,000 (or its equivalent in FCY). To enjoy the annual fee waiver, they must also have AI status.

How is AUM defined?

AUM refers to assets held solely in the cardmember’s single-name accounts, and includes:

• Deposits (excluding trust-minor accounts, treasury bills, Singapore Savings Bonds, CPF account)
• Market value of investments  (excluding CPF Investment Account)
• Single premium insurance policies
• Premiums paid on Manulife regular premium life insurance policies
• DBS Supplementary Retirement Scheme account

This means that “Temu Treasures” customers — those who have been invited to enjoy Treasures status with a waived AUM requirement — won’t be eligible for the Treasures Vantage Programme until they meet the AUM.

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 exceeding S$2M (of which the net value of your primary place of residence can only contribute up to S$1M)
• Net financial assets exceeding 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

Do note that AI status is assessed on an individual basis. AI status obtained solely through a joint Wealth Management Account will not be eligible for the annual fee waiver.

Not for Treasures Private Client customers!

Unfortunately, DBS has confirmed that these benefits are not for DBS Treasures Private Client (TPC) customers. It feels a bit odd, when TPC requires at least S$1.5M AUM, more than four times the S$350,000 of DBS Treasures, but ultimately each business unit makes its own decisions regarding 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.

Complimentary airport limo rides

The DBS Treasures Vantage complimentary airport limo service programme runs from 2 November 2026 to 31 March 2027.

DBS Treasures customers who meet the eligibility criteria at any month-end during this period will be awarded four complimentary airport limo rides, each valid for 12 months from the date of issuance. For the avoidance of doubt, a maximum of four limo rides can be earned during the entire programme period. 

Here’s the crucial bit: you must maintain S$350,000 AUM for 12 months from the month-end where you qualified. If you don’t, DBS can revoke any unused rides and charge you the retail rate for those you’ve already taken. For example, if I meet the criteria as of 30 November 2026, I must maintain the AUM until 30 November 2027.

If you terminate your Treasures relationship, or cancel your DBS Vantage Card, all unused rides will be immediately forfeited, and you’ll be locked out from requalifying for 12 months. 

How to book the rides

Qualifying cardholders will receive an email within three months from the end of the month where they met the qualifying criteria.

This will contain a membership number, which is used to create an account on the limo provider’s booking portal. Future allocations — should DBS decide to extend the programme — will be credited to that account without any email, so you’ll need to log in to check your balance. 

DBS has not shared the additional charges for child seats and late night surcharges, so if you do qualify for the rides, please share what you can see from the portal.

Terms & Conditions

The T&Cs for the complimentary airport limo rides can be found here.

Annual fee waiver

The DBS Vantage annual fee waiver programme applies to annual fees charged from 2 November 2026 to 31 March 2027.

However, if your card was opened before 2 November 2026, and your next renewal falls between 1 April and 1 November 2027, DBS may also award the annual fee waiver at its discretion.

Here’s when cardholder eligibility will be assessed.

To illustrate: 

• if you opened your DBS Vantage Card on 15 November 2026, you will need to meet the eligibility criteria at the end of November 2026, December 2026 or January 2027
• if you opened your DBS Vantage Card on 15 November 2025, and the annual fee is charged in November 2026, you will need to meet the eligibility criteria at the end of November 2026
• if you opened your DBS Vantage Card on 15 March 2026, and the annual fee is charged in March 2027, you will need to meet the eligibility criteria at the end of January 2027, February 2027 and March 2027
• if you opened your DBS Vantage Card on 15 June 2026, and the annual fee is charged in June 2027, DBS may assess you at the end of April 2027, May 2027 and June 2027, even though this falls outside the programme period

I know — it’s not easy to understand. My main takeaway is that the easiest qualification is for cardholders approved from 2 November 2026 onwards, or existing cardholders whose annual fee is due from 2 November 2026 to 31 January 2027, since their eligibility is based on a single month, rather than three. 

But regardless of which group you fall into, you must still maintain the S$350,000 in AUM for 12 consecutive months from the month-end where you qualified, or DBS may charge the annual fee. The real benefit of single-month qualification is the timing, because it helps those who only just crossed the S$350,000 mark, or only just obtained AI status.

If you terminate your Treasures relationship, or cancel your card, you’ll be locked out from requalifying for 12 months. 

Also, you will be required to maintain your AI status throughout the qualifying period, and when the annual fee is charged.

How the annual fee waiver works

Cardholders will still be charged the annual fee initially, which must be paid by the due date.

The reversal will then be processed within three months of the fee being charged, or the month-end on which you qualified, whichever is later.

When the annual fee is reversed, DBS will also claw back the 12,500 DBS Points (25,000 miles) which were awarded with the annual fee initially. It’s important you don’t touch those DBS Points, because any shortfall will be charged at S$0.0388 per DBS Point. If you redeemed all the DBS Points, for example, you’d be on the hook for S$485 (which is still less than the S$599.50 annual fee, oddly enough).

Terms & Conditions

The T&Cs for the annual fee waiver programme can be found here.

Conclusion

DBS Treasures customers can now enjoy four complimentary airport limo rides through the DBS Vantage Card, together with an annual fee waiver if they have Accredited Investor status.

However, both benefits require you to maintain at least S$350,000 with DBS for 12 months after qualifying. You’ll need to be extra careful if your AUM is on the margins — a small blip in investment value could cause you to fall below the requirement, at which point DBS can claw back the limo rides or charge you the annual fee.

If you’re still debating whether to keep or cancel your DBS Vantage Card, in light of these changes, I’ve written a separate post on that.