UOB One Debit Card: How Good Is It?

The UOB One Visa Debit Card is an excellent card for consumers that want to earn high interest rates on their account balances. Individuals that systematically spend S $ 500+ per calendar month and credit rating their wage to their UOB One Account or make 3 GIRO transactions monthly from their UOB One Account can earn an interest rate of 2.5 % p.a, which is by far one of the highest offered on the market. flush consumers that maintain lower account balances can even earn competitive interest rates that are higher than savings rates offered with other debit cards .

Pros Cons
  • Up to 2.50% p.a. on account balance
  • 3% cashback on Cold Storage transactions and more across Dairy Farm Singapore
  • 1% rebate on Grab transactions
  • Limited merchant selection
  • High minimum spend
  • 3.25% fee on transactions made in foreign currencies
  • 2.80% fee on overseas purchases
Promotions:

  • S$8 off with min. S$16 spend for new Shopee customers. Promo code: UOB8NEW
  • S$8 off with min. S$80 spend every Wednesday on Shopee. Not valid for products listed under “Dining, Travel & Services” and “Miscellaneous” categories
  • S$6 off with min. S$60 spend at Shopee Supermarket

Table of Contents

What Makes the UOB Debit Card Stand Out?

The UOB One Debit Card offers the highest matter to rates on the market. These interest rates vary depending on the sum of money that is deposited into the bank explanation associated with the debit wag. It requires you besides to credit your wage or make three GIRO debit transactions. In order to achieve the highest sake rate, an individual must maintain an account balance between S $ 60,001 and S $ 75,000. It is authoritative to note that tied with the lowest minimum remainder, cardholders placid earn more annual matter to with this card than with other debit cards on the market.

libra Interest Rate
S$0-S$15,000 0.50%
S$15,000-S$30,000 0.55%
S$30,001-S$45,000 0.65%
S$45,001-S$60,000 0.80%
S$60,001-S$75,000 2.50%
S$75,000+ 0.05%

Like early boosted savings debit cards on the commercialize, the UOB One tease has a few requirements that need to be met in order to earn a particular rate. In order to qualify for the UOB One Debit Card, a cardholder has to spend a monthly minimal of S $ 500, make 3 monthly GIRO payments using the card, and citation their wage ( minimum of S $ 2,000 per month ) .

circuit board Interest Rate Minimum Spend Monthly Salary Credit GIRO Payments
UOB One 2.50% S$500 Min. S$2,000 3x/month
NTUC Plus! 0.60% N/A Min. S$1,000 3x/month
UOB KrisFlyer 0.05% N/A N/A N/A

For individuals looking to earn rewards on their spend, the UOB One Debit Card offers rewards on diverse types of spend at a variety show of blue-ribbon merchants. Cardholders can earn rewards on choose Dining, Grocery, Leisure, Petrol, Insurance, Retail, and Wellness purchases .

Spend Category Select Merchants Discount/Rebate Rate
Online Shopping Shopee Singapore Up to 3% Cashback
Dining UOB Dining Privileges Up to 50% off
Groceries Cold Storage, Giant, Jasons, and more (under Dairy Farm Singapore) up to 3% Cashback
Transport & Delivery Grab Up to 10% Cashback
Petrol Shell and SPC Up to 21.15% at Shell and 24% at SPC
Other Spend Participating outlets 10% UOB$ cashback

The UOB One Debit Card does fall short in certain areas in comparison to other debit cards. Despite offering a list of choose merchants to earn rebates with, this list is very limited and an individual that does not shop at these stores will benefit significantly less than those that do. Rather than allowing cardholders to earn rebates from particular merchants, most early debit cards on the market allow for individuals to earn rebates from spend within a certain category. basically, exchangeable debit cards have less restrictions on where an individual can earn rebates from .

How to Apply for a UOB One Debit Card

There are two options that UOB offers for individuals concern in applying. Applicants can either apply in-person at a UOB Branch, or apply via mail-in form.

How to Apply via Mail

  • Download the application form
  • Fill out your personal details
  • Mail your form to: UOB Card Centre Robinson Road, P.O. Box 1688

UOB One Eligibility Requirements

The UOB One Debit Card has only one eligibility requirement. Like most early debit cards, an applicant must be at least 16 years of senesce in order to apply and get approved. For this menu, there is no minimum annual income necessity to qualify .

How to Cancel Your UOB One Debit Card

For cardholders that are looking to cancel their UOB One poster, there are a few steps that they need to follow .

  • Pay off your existing balance
  • Call UOB’s customer service at 03-2612-8121
  • Provide your account details
  • Cancel your card

UOB One Debit Card’s Features and Benefits:

UOB One Debit Visa Card

Details & Benefits
Annual Fee S$18 (free for first 3 years, fee can be waived with 12 transaction per year for subsequent years)
Card Details
  • Up to 2.50% p.a. on account balance
  • SMART$ Rebates Programme
  • 3% cashback on Cold Storage transactions and more across Dairy Farm Singapore
  • 1% rebate on Grab transactions

Credit Card Alternative: UOB One Card

UOB One Credit Card

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Consider this if
you want to earn competitive cashback on all spend

Read Review

  • Pros
    • Good fit for budgets of at least S$2,000 per month
    • Easy cashback on daily spend
    • Gives rebates for paying bills
    • Cons
      • Doesn’t fit high budgets or low/inconsistent budgets
      • Annual fee
      • S$192.6 annual fee w/first year waived
      • 5% rebate on general spend 5%, minimum spend of S$2,000 (cashback limit of S$300/quarter)
      • 10% cashback on Grab & UOB Travel
      • 6% on utility spend
      • 3.33% rebate with a minimum spend of S$1,000 (cashback cap of S$100)
      • 3.33% rebate with a minimum spend of S$500 (cashback cap of S$50)
      • SMART$ Rebate Programme

      The UOB One citation circuit board offers the best flat cashback rate for general spend .
      If a cardholder spends S $ 2,000 within a calendar calendar month, they will earn 5 % on all of their purchases. additionally, with this minimum spend, cardholders will earn 6 % on their utility charge payments, aboard 10 % on Grab rides and UOB Travel expenses ( earnings limited to S $ 300/quarter ). The UOB One Credit Card offers earnings rates to accompany those with lower monthly budgets. Those that spend a minimum of either S $ 1,000 or S $ 500 can earn a cashback rate of 3.33 % ( capped at S $ 100/quarter and S $ 50/quarter respectively ) .
      With this calling card, individuals gain access to the SMART $ Rebate program which allows for extra cashback rates at choose merchants. For an annual tip of S $ 192.60, card holders have the opportunity to earn great cashback on their general spend, which makes this one of the best flat rate cashback cards on the market .

      source : https://www.peterswar.net
      Category : Finance

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