Overview:
For a limited time period, GXS Bank is offering sign up bonuses when you sign up for a new GXS bank product. This is limited to the first 10,000 referrals. You can use code AUDR190 to get up to S$40 (S$20 for signing up the GXS Savings account and S$20 for signing up for GXS Debit card).
If you are new to GXS Bank is a digital bank backed by Grab Holdings and Singtel and they hold banking licence issued by the Monetary Authority of Singapore. Your deposits in your GXS Savings Account are insured up to S$100,000 by the Singapore Deposit Insurance Corporation (SDIC), under the Deposit Insurance Scheme.
Here’s How You Can Get S$40:
- Receive S$20 cashback when you make a minimum deposit of S$5,000 in your GXS Savings Account and maintain a total day end balance of at least S$5,000 in your GXS Savings Account (i.e. aggregate day end balance in your Main Account, all Saving Pockets and all Boost Pockets) for every day of the said period. You can get the highest interest rate by leaving the deposit in the Boost Pocket to get 3.28% p.a over 3 months.
- Receive S$20 cashback when you apply for GXS Debit Card or GXS FlexiCard and fulfil a minimum aggregate spend of S$200 on all Qualifying Transactions on your virtual and/or physical GXS Debit Card or virtual and/or physical GXS FlexiCard by the end of the next calendar month after you create your GXS Debit Card or GXS FlexiCard:
Own a GXS Debit Card but not GXS FlexiCard? No Problem!
No problem, you can still qualify as a new-to-GXS FlexiCard customer. Just apply for the card and fulfill the qualifying spend. Similarly, if you have a GXS FlexiCard but not a GXS Debit Card, you can still qualify as a new-to-GXS Debit Card customer.
The minimum aggregate spend must be met on the card that you applied for. If you applied for GXS Debit Card under this promotion, then you must fulfill the qualifying spend with the GXS Debit Card. If you do apply for the GXS FlexiCard, do the same. Remember to pay your bills on time and in full.
GXS Savings Account Worth Opening? Yes!
GXS Savings Account is a banking account that i featured under Best Savings Account with No Minimum Balance Required. Usually, your funds in GXS can be placed into any of these accounts within GXS app to earn the respective interest like a regular Savings Account:
- Boost Pocket – 3.28% p.a.
- Saving Pocket – 2.68% p.a
- Main Account – 2.38% p.a
This is definitely an account that you will find handy as there are no hoops to jump through.
If you are an existing GXS Savings Account, you may also have received this targeted offer in your app. However, if you are a new account holder, even though you are not eligible for this round, you may be eligible for future promotions like this.
Earn up to 4.3% p.a with Boost Pocket!
For this targetted offer promotion, you will need to deposit fresh funds of at least S$20K into your GXS Savings Account by 22nd Oct and hold it there for 3 months. You should probably choose to put in the Boost Pocket since you will need to lock up your funds for 3 months anyway.
On top of that Boost Pocket, GXS is giving extra cashback reward for the respective deposit amount below.
Here are the deposit amounts with the effective yield you can expect:
| Deposit Amount | Interest + Cashback Reward | Effective Yield (estimated) |
| Min. 20K | 3.28% + S$28 | 3.84% p.a. |
| Min. 30K | 3.28% + S$58 | 4.05% p.a. |
| Min. 40K | 3.28% + S$88 | 4.15% p.a. |
| Min. 50K | 3.28% + S$128 | 4.30 p.a. |
How to participate:
- Be an existing GXS Savings Account Holder and must have received the in-app notification from GXS
- Deposit fresh funds into GXS Boost Pocket by 22nd Oct 2024
- As it is first-come-first-served basis, you will be notified of your eligiblity on the cashback reward by 29th Oct 2024
Once you receive qualification notification,
- Put funds till 22nd Jan 2025 to unlock bonus cashback rewards
- Receive daily interest of 2.38% p.a. interest
- Receive bonus of 0.9% p.a. credited upon maturity on 22nd Jan 2024
- Receive cashback rewards by 11th Feb 2024
With Chocolate Finance reducing their interest rate from 4.2% p.a to 3.6% p.a, I will be moving my mum’s funds to GXS Savings Account under this promotion by tonight (22nd Oct) and holding it there for 3 months.
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