POSB celebrates SG50 by offering customers unlimited free rides on MRT, LRT and buses every Friday
A commuter signs up for “Fare Free Friday” to receive free unlimited trips on MRT, LRT and buses every Friday. To enjoy these unlimited free rides, commuters simply have to link their all-in-one POSB Everyday Credit Card or PAssion POSB Debit Card with EZ-Reload, a top-up facility service by EZ-Link which allows automatic top-ups to their cards.
The first 50,000 commuters who link up their PAssion POSB Debit Card or POSB Everyday Credit Card will be able to benefit from this initiative. Currently, there are around 50,000 commuters holding these cards who are already signed up with EZ-Reload and will also benefit from this offer.
The first 50,000 commuters who link up their PAssion POSB Debit Card or POSB Everyday Credit Card will be able to benefit from “Fare Free Friday”. Currently, there are around 50,000 commuters holding these cards who are already signed up with EZ-Reload and will also benefit from the initiative.
Both the PAssion POSB Debit Card and POSB Everyday Credit Card double up as EZ-link cards which customers can use to pay for their daily transport, on top of their payment functions. By enabling EZ-Reload on their cards, customers will be able to enjoy a seamless auto top-up experience which will save them the hassle of queuing.
(From L-R) Jeremy Soo, Head of Consumer Banking Group (Singapore), DBS Bank; Nicholas Lee, Chief Executive Officer for EZ-Link; Chew Men Leong, Chief Executive at Land Transport Authority; Sim S. Lim, DBS Singapore Country Head; Lee Yuen Hee, Chief Executive Officer for Transit Link celebrating the launch of POSB’s Fare Free Friday initiative
As part of this initiative, all EZ-Reload transaction fees and ATM top-up fees will also be waived. On average, a commuter can expect to save around SGD15 every month through “Fare Free Friday”.
(From L-R) Jeremy Soo, Head of Consumer Banking Group (Singapore), DBS Bank; Sim S. Lim, DBS Singapore Country Head; Chew Men Leong, Chief Executive at Land Transport Authority; Lee Yuen Hee, Chief Executive Officer for Transit Link; Nicholas Lee, Chief Executive Officer for EZ-Link at the launch event of POSB’s Fare Free Friday
The POSB Everyday Card is Singapore’s favourite credit card, with over 600,000 cardholders while the PAssion POSB Debit Card is the fastest-growing card in the market with more than 300,000 cardholders since its launch in January 2014.
A commuter using the PAssion POSB Debit Card for her trip.
Jeremy Soo, Managing Director & Head of Consumer Banking Group (Singapore), DBS Bank, said, “This is a special year for Singapore and we want to take this opportunity to celebrate with our customers and thank them for their continuous support of POSB over the years. Fridays are one of the happiest days of the week and we hope that providing our customers with free public transport on Friday will give them even more cause to smile before they venture into the weekend.”
Since the start of the year, DBS/POSB have contributed more than SGD100 million through various initiatives to celebrate the nation’s golden jubilee. These include:
- DBS Foundation to support social entrepreneurship (SGD50 million)
- DBS Singapore Gallery (SGD25 million)
- One-time bonus of SGD1,000 to each DBS employee to celebrate SG50 and also for reaching SGD 50 billion in market capitalisation (SGD18 million)
- Sponsorship of 28th SEA Games dragon boating and sailing races, held in conjunction with DBS Marina Regatta earlier in May and June this year (SGD3.5 million)
- Customer initiatives such as “POSB National School Savings Campaign” and “POSB Smiley CDA”, which include a “POSB Smiley Gift Bag” for all Jubilee babies (SGD10 million)
As POSB celebrates SG50, it also wants to help shape the future of Singapore for the next 50 years, including supporting the country’s drive towards being a cashless society and a “Smart Nation”.
Over the years, the bank has also revamped its payment offerings with a slew of innovations to enhance customer convenience, efficiency and to promote a cashless society. Today, DBS/POSB is the largest issuer of contactless credit/debit cards with more than 1.7 million contactless cards and has plans to double this in the next two years. In Singapore, the number of contactless transactions has grown rapidly, with an average of over three million contactless transactions made every month in 2015. DBS/POSB accounts for over 40% of these transactions with an average transaction size of SGD20.
“As a bank, we are making a strong push to develop platforms to support the nation’s drive towards being a cashless society. With most of the Singapore population banking with us, we are well placed to drive the cashless agenda in the transit segment and we will continue to drive awareness among our customers on the benefits and convenience of going cashless,” said Mr. Soo.
The bank currently has more than 2.2 million iBanking users and over one million mBanking users – the highest in the country. More than one million transactions are being made each day on both its online and mobile platforms.
For more information on POSB “Fare Free Friday”, please visit www.posb.com.sg/justcardit
The PAssion POSB Debit Card is the fastest-growing card in the market with more than 300,000 cardholders since its launch in January 2014.
The POSB Everyday Card is Singapore’s favourite credit card, with over 600,000 cardholders
Annex
Quotes from key partners
Transit Link Pte Ltd
Lee Yuen Hee, Chief Executive Officer for Transit Link Pte Ltd, said, “We are pleased to collaborate with POSB on this initiative so that commuters can enjoy greater convenience and a better travel experience.”
EZ-Link Pte Ltd
Nicholas Lee, CEO of EZ-Link Pte Ltd, said, “EZ-Link is happy to partner with POSB for the “Fare Free Friday” initiative in celebration of our nation’s Golden Jubilee, as it will greatly benefit ez-link cardholders. We hope that in this way, more Singaporeans will be aware that they can use their POSB Everyday Card and PAssion POSB Debit Card as an ez-link card. It is also an excellent opportunity for them to sign up for EZ-Reload and enjoy the convenience of automated top-ups for free. Beyond SG50, EZ-Link will continue to innovate and bring more cashless surprises to Singapore.”
[END]
About DBS
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's capital position, as well as "AA-" and "Aa1" credit ratings, is among the highest in Asia-Pacific. DBS has been recognised for its leadership in the region, having been named “Asia’s Best Bank” by The Banker, a member of the Financial Times group, and “Best Bank in Asia-Pacific” by Global Finance. The bank has also been named “Safest Bank in Asia” by Global Finance for six consecutive years from 2009 to 2014.
DBS provides a full range of services in consumer, SME and corporate banking activities across Asia. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. These market insights and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 21,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
About POSB
A part of the DBS Group, POSB is the largest local bank in Singapore with 4 million customers. Having served generations of Singaporeans for the past 138 years, it is known as the "People's Bank", and prides itself on being "neighbours first, bankers second".
With a good understanding of Singaporeans through the years, POSB offers products and services that are relevant to the savings, borrowing, investment and insurance needs of all Singaporeans. With over 50 branches conveniently located islandwide, and over 1,000 ATMs and Cash Acceptance Machines across the island, POSB's distribution network is the largest in Singapore.
POSB acknowledges the passion, commitment and can-do spirit in each of its staff. For more information, please visit www.posb.com.sg
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World's Best Bank 2025, 2018 - 2022
Euromoney, Global Finance, The Banker
Asia’s Safest Bank, 2009 – 2025
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