DBS Bank Mobile Transfer Program

It is an incredible initiative for our valued customer. Get your friends & family to experience DBS Bank with an enhanced Refer and Earn Program, crafted exclusively for your loved ones! It helps our existing customers to invite their friends & family to the DBS Bank proposition.

Here’s how it works: Get your friend to open a DBS Bank savings account and once they’ve maintained INR 20,000 daily balance in their account from account opening date, you will receive INR 250. Your friend earns INR 250 as well. Additionally, your friend gets INR 250 on doing INR 1000 merchant spends within 15 days of account opening date provided first condition is fulfilled. Merchant spends can be through Debit Card, UPI merchant spends (P2M transactions) and Billpay/Recharge done through digibank app

The program period is from 18^th June, 2024 till 31^st March, 2025 (both days inclusive).

You can transfer fund to all your friends & relatives who are over 18 years old to open a DBS Bank  savings account on the digibank app. In case your friend is an existing DBS Bank Savings account holder 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 “REFER & EARN” option in the digibank app. Select “REFER & EARN” and simply enter the mobile number of your friend to transfer money during the Refer and Earn 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 amount of INR 250 for you and your friend  is payable for successful conversion to DBS savings account only within 15 days of being referred and maintaining INR 20,000 daily balance in their account from account opening date. Additional INR 250 will be credited to the friend if they spend INR 1000 merchant spends within 15 days of account opening. DBS Bank India Limited reserves the right to debit your account at its sole discretion in case credits/cashback posted in a Customer’s DBS savings account exceed 20 (twenty) number of eligible Mobile Transfers per calendar month.

Only the existing DBS savings account holder can be a part of this program.

Existing DBS savings account customers can earn INR 250 by transferring funds to their new friend who is not a DBS Bank customer under this program. The maximum incentive which can be earned under this program is INR 5000 (20 referrals per calendar month), e.g. if you have successfully transferred fund to your friend who is not a DBS Bank customer and they have availed the offer by maintaining INR 20,000 daily balance for 15 days from account opening date.

The amount of INR 250 will be credited in DBS savings account of the eligible customer within 60 days of the friend completing the daily balance criteria of INR 20,000 during the Refer and Earn Program Period. Your friend will also be eligible for a cashback of INR 250 on maintaining INR 20,000 daily balance for 15 days from account opening date. Your friend gets additional INR 250 on doing merchant spends of INR 1000 within 15 days of account opening date subject to fulfilling first condition.

Yes, your friend is eligible for a cashback of INR 250, by maintaining INR 20,000 daily balance for 15 days from account opening date. Your friend gets additional INR 250 on doing merchant spends of INR 1000 within 15 days of account opening date subject to fulfilling first condition.

Cashback will be credited to your friend’s DBS savings account within 60 days from the date of completion of the balance maintenance criteria.

The one who transfers the fund first will receive the fixed incentive.

No, your friend should not be an existing DBS account holder under DBS Refer and Earn Program.

Your friend should open the DBS savings account within 15 days of receiving the mobile transfer (I.e within 15 days of being referred) from the DBS Bank 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 DBS savings account during the Refer and Earn Program Period.

Only a friend who is sourced through the DBS Bank Refer and Earn Program are eligible for this program.

1. Debit Card transactions for funding prepaid payment instruments/wallets/ DBS Bank (wallet or savings account) using DBS Debit card, cash withdrawals at ATMs or DBS Bank branches, void transactions, reversal or refund on POS or e-POS transactions, spends made towards activities such as gambling, lottery, online gaming/online gaming websites will not be considered as a spend under this Program. Incomplete / rejected / invalid / returned / disputed or unauthorized / fraudulent transactions will not be considered for the Program.
2. UPI transactions for P2P (peer to peer) transfers will not be considered as merchant spends under this program. Spends made towards activities such as gambling, lottery, online gaming/online gaming websites and spends made towards funding of prepaid payment instruments/wallets/DBS Bank (wallet or savings account) will not be considered as a merchant spend under this Program. Incomplete / rejected / invalid / returned / disputed or unauthorized / fraudulent transactions will not be considered for the Program.

Tax liability arising from the Refer and Earn Program, if any, will be solely borne by the customer/Friend. The Bank will have the right to deduct TDS as per existing regulations.