DBS bolsters support for heartland merchants with the bank's third wave of SG60 benefits

Singapore, 06 Apr 2025 - To celebrate heartland merchants and dial up support to help them thrive in a digital economy, DBS is introducing special ‘60-themed’ benefits and programmes in conjunction with the nation’s 60^th birthday.


The offers are bundled under an enhanced Heartland Merchant Banking Package which enables merchants who partner with DBS to save up to SGD 1,880^[1] through waivers and cashback benefits including:

• First year waiver on account fees and no minimum balance
• Processing fee waivers for the first 50 GIRO and the first 50 FAST payments monthly
• Six months’ free NETS terminal fees worth SGD 300
• 60% off processing fees for working capital loans
• 6% cashback for spends on Business Advance+ Debit Card
• SGD 60 cashback (minimum daily balance of SGD 20,000 over three months)

Merchants who sign up for the package before 31 August 2025 will also stand a chance to win SGD 6,000.

In addition, DBS in collaboration with partners, is offering online courses to equip merchants who sign up for the package to go digital – by equipping them with digital marketing skills to help businesses connect with new online customers and grow their customer base.

Lim Him Chuan, Singapore Country Head, DBS said: “Heartland merchants play an essential role in society by providing the goods and services that fuel our daily lives. They are more than just businesses – they are the heart of our neighbourhoods and contribute greatly to our unique local heritage. DBS is privileged to have grown alongside the nation over the years and we are excited to be paying tribute to our merchants and to continue supporting their growth in a digital economy.”

The enhanced package was announced at the DBS/POSB “Support Our Heartlands” carnival at the Oasis Terraces in Punggol. Senior Minister and Coordinating Minister for National Security, Teo Chee Hean, was in attendance. He was accompanied by Senior Minister of State for Digital Development and Information, and Health, Janil Putucheary; Senior Minister of State in the Prime Minister’s Office, Desmond Tan; Minister of State for Home Affairs, and Social and Family Development, Sun Xueling; as well as grassroots advisers Sharael Taha and Yeo Wan Ling.

Over 800 participants and young families spent their Sunday morning at the community event which included interactive stations for children to learn about healthy digital and financial habits.

Since its launch last August, the Support Our Heartlands initiative has helped heartland merchants, wet market and hawker stall owners reap a 40% boost in weekend earnings via PayLah! transactions.

As part of the DBS’ ongoing efforts to deliver greater financial wellness among individuals and merchants alike, the bank also introduced a new Good Money Habits for Businesses online series^[2].Designed as bite-sized tutorials, the series includes lessons on better cash management, how to leverage e-commerce for business expansion and how to protect against scammers.

Alvin Chua, owner of Seoul Good Korean Restaurant in Punggol East, tried his hand at promoting his stall’s specialty Korean dishes on a TikTok Shop livestream at the carnival for the first time.

“Our regular customers have been a great and continued support for Seoul Good Korean Restaurant. At the same time, we want to share our food with new groups of diners who may not live in the area. This is my first time promoting our dishes on TikTok Shop and it was fun! The tutorial by DBS and TikTok, with support from our Punggol Shore Merchant’s Association, was extremely helpful and I look forward to engaging more customers online.”

The Heartland Merchant Banking Package is the third in a year-long series of initiatives by the bank to commemorate SG60 together with its customers, businesses and the community. Last month, the bank rolled out “60-themed” rewards and deals available via the POSB Everyday Card and PAssion POSB Debit Cards to help customers save more on everyday expenses while enjoying their favourite local brands and attractions. The DBS Foundation also announced an SGD 7.3 million programme to address nutritional and social isolation gaps among vulnerable seniors.

^[1] Terms and conditions apply.
^[2] Available on @DBSbusinessclass social handles on Instagram and TikTok

 

About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 16 consecutive years from 2009 to 2024.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.

DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.