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Cashback debit cards

Gain cash rebates from your daily expenses with a cashback debit card.

Zyane Tan
Zyane Tan

Posted

Fact checked
Cashback debit cards

Linked to your transaction account, a cashback debit card allows you to reap attractive rebates from your purchases. If you wish to get back some value from your purchases without the risk of accumulating debt and interest, a cashback debit card may be ideal for you.

Compare cashback debit cards in Singapore

Data indicated here is updated regularly
Name Product Annual Fee Minimum Income Minimum Age Requirement Mobile Payments
Aspire Corporate Card
Aspire Corporate Card
S$0
S$0
N/A
Apple Pay,Google Pay
A corporate debit card for SMEs and Startups with no annual fee and low FX fees. Enjoy 1% cashback on marketing and SaaS spend. T&Cs apply.
Go to site
More Info
OCBC Frank Debit Card
OCBC Frank Debit Card
S$0
N/A
16 years old
Apple Pay,Google Pay,Samsung Pay
Get unlimited 1% cashback on selected categories, access to exclusive deals and cashback with this stylish debit card.
More Info
BOC Chinese Cultural Debit Card
BOC Chinese Cultural Debit Card
S$0
N/A
16 years old
Apple Pay,Google Pay
Enjoy all debit card features and exclusive privileges at China Cultural Centre, including discounts for performances and workshops.
More Info
DBS Visa Debit Card
DBS Visa Debit Card
S$0
N/A
16 years old
Apple Pay,Google Pay,Samsung Pay,NETSPay,PayLah!
A rewards debit card that offers up to 10% cashback on food delivery, local transport, contactless payments and foreign currency.
More Info
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Compare up to 4 providers

What's in this guide?

What is a cashback rewards programme?

A cashback or rebate reward programme is an incentive that pays back a percentage of the amount spent to the cardholder. Providers often offer cashback programmes to incentivise their customers to spend on their card.

How do I get cashback from my debit card in Singapore?

When you open a transaction account with a Singapore bank or financial institution, you’ll typically be issued a debit card so that you can withdraw funds or make cashless purchases. Depending on the provider, the debit card may be linked to Mastercard, Visa or other networks.

Your debit card may also be linked to a cashback programme – allowing you to earn back a portion of your eligible card spending, which is usually credited directly into your account the next month. For example, you need to use your POSB PAssion debit card at Giant, Cold Storage or Guardian stores to earn a 4% cashback on the transaction.

Bank accounts that offer cashback with debit card spending

Here are some of the cashback debit cards available in Singapore:

Debit cardCash rebatesRequirements
DBS Visa Debit Card
  • Up to 3% cashback when you spend on the following:
    • Online food delivery. Up to 3% cashback
    • Local transport. Up to 3% Cashback
    • Local Visa Contactless. Up to 1% cashback
    • Foreign currency. Up to 2% cashback
  • Up to 10% cashback on online food delivery and local transport for new cardholders (apply online by 31 December 2020).
  • Minimum card spend of S$500 per calendar month
  • Withdraw S$400 or less in the same month
PAssion POSB Debit Card
  • 6% cashback on eligible dining (online and in-stores) and local attractions
  • 4% rebate (or 6x TapForMore points) for every dollar spent online or in-stores at participating Dairy Farm Group (DFG) stores – Cold Storage, Market Place, Jasons, Giant and Guardian
  • Up to 10% cashback for the first 2 months on dining and participating Dairy Farm Group (DFG) stores
    • Requires a minimum spend of S$500 per month from card approval date to qualify
    • Cashback subject to a cap of $50 per month
    • Apply online by 31 April 2021
  • 1% cashback at Takashimaya Department store
  • Register for the dining and local attraction rebate promotion with your digibank credentials
    • First 30,000 cardmembers only
    • From 1 July to 31 December 2020
  • Minimum card spend of $400 per calendar month (except rebates for dining, local attractions and Takashimaya)
OCBC Plus! Visa Debit Card
  • Rebates at Fairprice:
    • 4% rebates at FairPrice stores, Unity and Warehouse Club, plus 3% rebates at FairPrice On with a minimum spend of S$200 monthly outside of FairPrice.
    • 7% off at FairPrice stores, Unity and Warehouse Club, plus 3% rebates at FairPrice On with a minimum spending of S$500 monthly outside of FairPrice.
  • 1% rebate for recurring M1, SingTel, Circles.Life and StarHub bills
  • 1% rebate for recurring NTUC membership fees
  • 3% rebate at Cheers and Popular Bookstores
  • Minimum card spend of $200 or S$500 per calendar month outside of Fairprice
OCBC Frank Debit Card
  • Unlimited 1% cash rebate is offered when you shop with selected merchants:
    • Fast food: McDonald’s, Subway, Burger King
    • Convenient stores: Cheers, 7-11
    • Online stores: Zalora, Lazada, iHerb, Fairprice Online
    • Transport: Grab, Comfort, CityCab, TADA, Go-Jek
  • Minimum card spend of S$400 per calendar month
OCBC Yes! Debit Card
  • Unlimited 1% cash rebate when you shop with selected merchants, including:
    • Fast food: Macdonald’s, Subway, Burger King
    • Convenient stores: Cheers, 7-11
    • Online stores: Zalora, Lazada, iHerb, Fairprice Online
    • Transport: Grab, Comfort, CityCab, TADA, Go-Jek
  • Minimum card spend of S$400 per calendar month
UOB One Debit Card
  • Up to 3% rebates:
    • Dairy Farm Singapore merchants. Up to 3% rebate when you shop at 7-Eleven, Cold Storage, Giant, Guardian, Jasons and Marketplace
    • Grab transactions. Up to 1% rebate
  • Minimum card spend of S$500 per calendar month
HSBC Everyday Global Debit Card
  • Up to S$15 rebate with your first transaction of each currency
  • 5% rebate on everyday essentials at:
    • Supermarkets and convenient stores: Cold Storage, FairPrice, Giant, Sheng Siong, Guardian, Jasons, Market Place or 7-Eleven
    • Online food delivery or grocers: Deliveroo, foodpanda, GrabFood or RedMart
  • Minimum spend of S$600 on five or more eligible transactions per calendar month:
    • Valid from 1 October to 31 December 2020
    • Limited to the first 1,000 qualifying eligible customers per month
Revolut Metal Card
  • 1% cashback on all of your card payments
  • None

Note: Information provided is accurate at the time of writing (15 November 2020)

How do I compare debit cards that offer cashback?

  • Fees. Check to see if you’ll need to pay any annual fees for the use of your cashback debit card.
  • Required criteria. You may need to transact a minimum amount to your card, spend at a specific merchant or avoid withdrawing over a certain sum each month to be eligible for cashback.
  • Spend categories. Banks may offer cashback for different categories, such as online shopping, grocery or dining spend. So make sure to apply for one with rewards that suit your spending habits.
  • Cashback rates. Pay attention to the cashback rates between different cards and find one that offers decent rebates for your expenses.
  • Earn cap. Most debit cards impose a limit to the maximum cashback you’re allowed to earn per month, so make sure to find one that offers a higher earn cap.
  • Daily limits. Look closely to ensure that you’re not limited in how much you can purchase daily using your cashback debit card.

Compare cashback debit cards

Benefits of cashback debit cards

  • Typically fee-free. Unlike cashback credit cards, cashback debit cards generally don’t come with any annual fees.
  • Credit rating doesn’t matter. Unlike a credit card, you don’t have to worry about your debit card application getting rejected due to your credit history.
  • No risk of debt. With debit cards, any transaction you make will be withdrawn directly from your available funds. This way, you won’t need to worry about overspending and accumulating any debt when you make purchases with a cashback debit card.
  • Earn cashback. Your everyday shopping expenditures may accumulate cashback, allowing you to save as you spend.
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Are there any caveats to look out for?

Earning part of your spending back in cash does sound like an enticing offer, but keep a look out for the following:

  • Required criteria. Most cards will require you to fulfill specific criteria such as meeting a minimum spend or make a certain number of card transactions to be eligible for cashback.
  • Maximum earn cap. Cashback programmes usually limit the amount of cashback you can earn in a month. For example, you can only earn a maximum of $20 per month in cashback on the DBS Visa debit card.

Frequently asked questions

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