digibank Mobile Transfer Program
Frequently Asked Questions
It is an incredible initiative for our valued customer. Get your friends & family to experience digibank with an enhanced Mobile Transfer Program, crafted exclusively for your loved ones! It helps our existing customers to refer their friends & family to the digibank proposition.
Here’s how it works: Get your friend to open a digibank savings account and once they’ve spent INR 2,000 using their digibank Debit Card, you will receive INR 250! And that’s not all- your friend earns INR 250 cashback. All of this is valid only for the first 45 days of opening a digibank savings account.
The program is from 15th July, 2018 till 30th June, 2021 (both days inclusive).
You can transfer fund to all your friends & relatives who are over 18 years old to open a digibank savings account. In case your friend is an existing digibank account holder (e-wallet or digibank savings) and it is before the launch of the program, you will not be eligible for any incentive.
Transfer money (₹1 onwards) to your friend using the “INVITE & EARN” option in the digibank app. Select “INVITE & EARN” and simply enter the mobile number of your friend to transfer money during the Mobile Transfer Program Period.
Well, there are no limitations on the number of people you may want to transfer funds under this program. However, the maximum number of successful credit is 20 per calendar month e.g. if the program is launched on 15th July, you will get credit for 20 successful friends availing this offer for the Calendar month i.e. till 31st July post that day the new calendar month will start till the end of next month. The incentive is payable for successful conversion to digibank savings account only and spend of INR 2,000 or more within first 45days of onboarding digibank savings account. DBS Bank India Limited reserves the right to debit your account at its sole discretion in case credits/cashback posted in a Customer’s digibank savings account exceed 20 (twenty) number of eligible Mobile Transfers per calendar month.
Only the existing digibank savings account holder can be a part of this program.
Existing digibank savings account customers can earn INR 250 by transferring funds to their new friend who is not a digibank customer under this program. The maximum incentive which can be earned under this program is 20 per calendar month, e.g. if you have successfully transferred fund to your friend who is not a digibank customer and they have availed the offer by spending INR 2,000 using digibank debit card within first 45 days of onboarding digibank savings account, your incentive will be 20*250=5,000.
The fixed incentive of INR 250/- will be credited in digibank savings account of the eligible customer within 15 working days of the friend completing debit card transaction of INR 2000 during the Mobile Transfer Program Period. Your friend will also be eligible for a cashback of INR 250/- on transacting minimum of INR 2000/- or more in one or more transaction on their physical digibank Debit Card within first 45 days of opening the digibank savings account.
Yes, your friend is eligible for a cashback of Rs. 250, just by transacting minimum of Rs. 2000 /- or more with their physical digibank Debit Card within first 45 days of converting to digibank savings.
Cashback will be credited to your friend’s digibank savings account within 15 working days from the date of completion of Rs. 2000/- worth of transactions through POS/ ePOS (i.e. transactions at merchant outlet and online transactions) using digibank debit card.
If two different customers have transferred the funds to the same friend under this program, who will get the incentive?
The one who transfers the fund first will receive the fixed incentive.
Can I transfer funds to existing digibank savings accounts holder to get the incentive under this program?
No, your friend should not be an existing digibank account holder under digibank Mobile Transfer Program.
What is the duration for my friend to open the digibank savings account once the amount has been transferred from digibank existing customer?
Your friend should open the digibank savings account within 15 days of receiving the mobile transfer from the digibank existing customer, else the money will be credited back to the customer’s account.
Post 15 days of the fund transfer, you will not be eligible for any incentive even if your friend were to open a digibank savings account during the Mobile Transfer Program Period.
Only a friend who is sourced through the digibank Mobile Transfer Program are eligible for this program.
Debit Card transactions for funding wallets will not be considered a transaction for earning cashback under this program. Customer will get cashback only on purchase transaction on POS/e-POS (i.e. transaction at merchant outlet and online transaction) made using digibank physical debit card within 45 days of opening digibank savings account. Any transaction to fund a digibank (wallet or savings account) using digibank Debit card, cash withdrawals at ATMs or DBS Bank branches, void transactions, tax payments or mutual fund purchase will not be considered as a spend under this Program.
Tax liability arising from the Mobile Transfer Program, if any, will be solely borne by the customer/Friend. The Bank will have the right to deduct TDS as per existing regulations.