If you’re a credit card user in Singapore, you may be wondering how to waive your annual fee. DBS, one of the largest banks in the country, has a fee waiver policy that can help you save money. In this article, we’ll explore how to navigate DBS’s digital channels to submit a fee waiver request, as well as tips for maximising your DBS credit card experience.
Understanding DBS’s Fee Waiver Policy
DBS offers an annual fee waiver for the first year of your credit card membership. After that, you’ll need to submit a fee waiver request to avoid being charged. DBS’s fee waiver policy applies to annual fees, finance charges, and late charges. You can only submit a request through the bank’s digital channels, which we’ll discuss in the next section.
Navigating DBS’s Digital Channels
DBS makes it easy to submit a fee waiver request through its digital channels. You can use the bank’s website or mobile app to submit your request. Once you log in to your account, look for the fee waiver request form. You’ll need to provide some basic information, such as your name, credit card number, and reason for requesting the waiver. Be sure to submit your request before the due date to avoid being charged.
Key Takeaways
- DBS offers an annual fee waiver for the first year of your credit card membership.
- You can submit a fee waiver request through DBS’s digital channels, such as its website or mobile app.
- To maximise your DBS credit card experience, consider taking advantage of the bank’s benefits and rewards program.
Understanding DBS’s Fee Waiver Policy
If you are a DBS credit cardholder in Singapore, you may be eligible for a fee waiver on your annual fees. This can help you save money and make your credit card more affordable. In this section, we will explore the eligibility criteria for a fee waiver and how you can request one.
Eligibility for Fee Waiver
To be eligible for a fee waiver, you must meet certain criteria. Firstly, you must have a DBS credit card. Secondly, you must have made a minimum spend of $60,000 on your card in the preceding year. If you meet these criteria, you may be eligible for a fee waiver on your annual fees.
It is important to note that the fee waiver is non-waivable for the first year. However, you will enjoy a waiver in the subsequent years if you meet the minimum spend requirement. Additionally, you will not be awarded the 12,500 DBS Points (25,000 miles) if the annual fee is waived.
How to Request a Fee Waiver
If you meet the eligibility criteria for a fee waiver, you can request one by contacting DBS’s customer service. You can do this by calling the DBS hotline at 1800 111 1111 (Singapore) or +65 6327 2265 (Overseas). Alternatively, you can visit a DBS branch in person to make your request.
When you make your request, be sure to have your credit card details and personal identification documents ready. DBS may ask you to provide additional information to verify your identity and eligibility for the fee waiver.
In conclusion, if you are a DBS credit cardholder in Singapore, you may be eligible for a fee waiver on your annual fees. By meeting the eligibility criteria and making a fee waiver request, you can save money and make your credit card more affordable.
Navigating DBS’s Digital Channels
If you’re a DBS/POSB customer in Singapore, you can easily waive your credit card or cashline fees and charges using the bank’s digital channels. Here’s how to do it:
Online Banking and Mobile Apps
DBS’s online banking platform and mobile apps are user-friendly and easy to navigate. To waive your fees, simply log in to your account and follow these steps:
- Click on the “Chat” button located at the bottom right of the screen.
- Type “Fee Waiver” into the chat.
- Tap on “Fee Waiver” followed by “Authenticate me.”
- Complete the authentication using either your iBanking Login or Card & PIN.
- Select “Credit Cards Fee Waiver.”
- Choose the type of fee waiver you wish to apply for.
- Submit your request.
DBS Digibot and Automated Systems
DBS’s Digibot and Automated Systems are innovative tools that allow you to perform fee waivers, block cards and card replacements easily. To use these tools, simply follow these steps:
- Log in to your account using your DBS/POSB credentials.
- Click on the “Digibot” or “Automated Systems” icon.
- Follow the prompts to perform your desired action.
By using DBS’s digital channels, you can easily waive your credit card or cashline fees and charges without having to visit a branch or speak to a customer service representative. This saves you time and hassle, and allows you to manage your finances on-the-go.
Remember, when requesting a fee waiver, make sure you have the required number of DBS Points in your account, or else you will be charged at S$0.0388 per DBS Point. With DBS’s digital channels, you can easily check your points balance and ensure you have enough points to waive your fees.
Credit Card Benefits and Rewards
If you’re looking for a credit card that offers excellent benefits and rewards, DBS has a range of options to choose from. Whether you’re interested in earning points, cashback, or miles, there’s a card that suits your needs.
Earning and Redeeming Points
DBS offers a range of cards that allow you to earn points on your spending. The DBS Black Visa Card, for example, earns you 1 DBS Point for every $5 spent, while the DBS Vantage Card earns you up to 10,000 DBS Points when you deposit fresh funds and spend on the card.
Redeeming your points is easy, too. You can use them to offset your credit card bills, convert them to miles, or redeem them for vouchers or gifts.
Cashback and Miles
If you prefer cashback or miles, DBS has you covered. The DBS Live Fresh Card, for example, offers up to 5% cashback on online purchases, and up to 3% cashback on contactless payments.
Meanwhile, the DBS Altitude Amex Card earns you 1.2 miles for every $1 spent locally, and 2 miles for every $1 spent overseas. You can redeem your miles for flights, hotel stays, and more.
No matter which DBS card you choose, you’ll enjoy excellent benefits and rewards. So why not apply for one today and start earning points, cashback, or miles on your spending?
Maximising Your DBS Credit Card Experience
If you are a DBS credit cardholder, you can maximise your experience by meeting the minimum spend requirement and leveraging promotions. Doing so can help you save money and earn rewards.
Meeting the Minimum Spend
DBS offers a waiver of the annual fee for the subsequent years if you spend a minimum of $60,000 in the preceding card year. To meet this minimum spend requirement, you can make purchases for your daily needs, such as groceries, petrol, and dining.
To make the most of your purchases, consider using your DBS credit card for cashback or rewards. For example, the DBS Live Fresh Card offers 5% cashback on online and contactless purchases, while the DBS Altitude Card offers up to 3 miles per $1 spent on online flight and hotel bookings.
Leveraging Promotions
DBS frequently offers promotions that can help you save money and earn rewards. For example, you can enjoy discounts on dining, shopping, and entertainment with the DBS Lifestyle App. You can also earn bonus points or miles for signing up for a new credit card, referring a friend, or meeting a minimum spend requirement.
To stay updated on the latest promotions, check the DBS website, social media pages, and email newsletters regularly. You can also download the DBS Lifestyle App to receive personalised offers and recommendations.
By meeting the minimum spend requirement and leveraging promotions, you can maximise your DBS credit card experience and enjoy more benefits. Remember to use your card responsibly and pay your bills on time to avoid fees and interest charges.
Contacting Customer Support
If you require assistance with waiving your DBS credit card annual fee, you can contact customer support through phone banking services or by speaking to a customer service representative. Here are your options:
Phone Banking Services
DBS offers phone banking services to its customers, which allows you to perform banking transactions and make inquiries over the phone. To access phone banking services, you can call 1800 111 1111 (Singapore) or +65 6327 2265 (Overseas). Press 1 for English and wait for the next available customer service officer.
Phone banking services are available 24/7, making it a convenient option if you need assistance outside of regular banking hours. However, keep in mind that there may be long wait times during peak periods.
Speaking to Customer Service Representatives
If you prefer to speak to a customer service representative, you can do so by calling DBS’s hotline at 1800 339 6963 (Singapore) or +65 6339 6963 (Overseas). This hotline is available 24/7 for lost card reporting and fraud reporting.
For other inquiries, you can call DBS’s general hotline at 1800 221 1111 (Singapore) or +65 6221 1111 (Overseas) from Monday to Friday, 9:00am to 5:30pm.
When speaking to a customer service representative, be sure to have your credit card details and personal information ready. This will help expedite the process and ensure that your inquiry is handled efficiently.
Overall, DBS offers multiple options for contacting customer support, making it easy for you to get the help you need. Whether you prefer phone banking services or speaking to a customer service representative, DBS is committed to providing excellent customer service and helping you with your banking needs.
Frequently Asked Questions
How can I request for a waiver on my DBS credit card annual fee?
You can request for a waiver on your DBS credit card annual fee by logging in to your DBS iBanking account and submitting a waiver request through the automated system. Alternatively, you can also call the DBS customer service hotline to request for a waiver.
What are the steps to waive my POSB card annual fee?
To waive your POSB card annual fee, you can follow the same steps as mentioned above for DBS credit card annual fee waiver. You can log in to your DBS iBanking account or call the DBS customer service hotline to submit your waiver request.
Who can I contact to discuss the annual fee waiver for my DBS credit card?
You can contact the DBS customer service hotline at 1800 111 1111 to discuss the annual fee waiver for your DBS credit card.
Is there a 24-hour hotline for DBS annual fee waiver enquiries?
Yes, there is a 24-hour hotline for DBS annual fee waiver enquiries. You can call the DBS customer service hotline at any time to enquire about your annual fee waiver status.
What should I do if my request to waive my DBS annual fee is not approved?
If your request to waive your DBS annual fee is not approved, you can still try to negotiate with the bank to waive the fee. Alternatively, you can consider switching to another credit card that offers a lower or no annual fee.
What are the typical annual fees for DBS credit cards?
The typical annual fees for DBS credit cards range from $192.60 to $535 depending on the type of card and the benefits it offers. However, most DBS credit cards offer a first-year annual fee waiver, and subsequent annual fees can be waived if you meet certain spending criteria.