On Friday, 31 July 2026, some of us with credit card and/or personal loan accounts with Standard Chartered Bank (Singapore) received an unusual email from the bank. According to it, these accounts would be transferred from Standard Chartered to Trust Bank Singapore on 3 October 2026. Trust Bank is one of Singapore’s largest retail banks by customer numbers and the largest digital bank. It is backed by Standard Chartered Bank and the FairPrice Group.
A joint press release from both banks issued later that day explained that this transfer was part of Standard Chartered’s investment in Trust, and an expansion of the strategic partnership between both banks. This transfer would reflect the complementary strengths of both banks, allowing Trust to continue to scale its digital banking platform and everyday banking solutions, while Standard Chartered focuses development on “capabilities that help clients grow, manage and protect their wealth”.
What This Transfer Means For Standard Chartered Customers
Affected Standard Chartered customers with credit card and personal loan accounts do not have to take any immediate action.
On 3 October 2026, existing Standard Chartered personal loan accounts will be transferred to Trust with no change to interest rate, monthly instalment amount, and loan tenure.
Existing Standard Chartered credit card accounts will be closed, and any outstanding balance will be transferred to a Trust Credit Card account. If you are already a Trust Credit Cardholder, your outstanding loan and card balances, credit limit, and unbilled and pending transactions with Standard Chartered will be transferred automatically to your existing Trust Credit Card account. If not, a new Trust Credit Card account will be opened.
This also means that your existing card benefits will cease, and any outstanding rewards points will be converted to cashback after the transfer date. Rewards points earned with the Standard Chartered Smart Credit Card will convert at a rate of 320 points to $1 cashback, while all other rewards points will convert at a rate of 403.5 points to $1 cashback. You can continue to redeem your rewards points for e-vouchers and air miles until 11pm on the night before the transfer date.
For those with Standard Chartered credit cards earning cashback after the transfer date, they will be credited to your Trust credit card account instead, at a rate of $1 to $1.
Any supplementary card accounts will also be closed. If you wish to apply for new Trust Link supplementary cards, note that your supplementary cardholder will need to have a Trust savings account before you can send them an invitation.
Two Additional Things Standard Chartered Customers Need To Take Note Of
While no immediate action is required, there are benefits to taking these two steps early.
Firstly, if you are not already a Trust customer, you are incentivised to download the Trust App and get familiar with it by opening a Trust savings account. If you do so before the transfer date of 3 October 2026, there is a limited-time special reward: an in-app scratch card. This scratch card offers guaranteed cashback starting from $30, up to $1,000 for new customers who open a Trust savings account before the transfer date.
Note that you are not required to do this now, though you will eventually need to download the Trust App anyway to manage your credit card and loan accounts, and you won’t get the limited-time special reward if you don’t already have a Trust savings account by the transfer date.
Secondly, if you have any existing recurring payments on your Standard Chartered Credit Card, such as telco bills, gym memberships, insurance premiums and so on, you will need to make the necessary arrangements as the card details will no longer be valid after the transfer date. While you can technically wait till the transfer date to learn of your new Trust Link Credit Card details and set up the recurring payment process then, you may risk the disruption of some services if the billing organisations try to charge your old Standard Chartered card and are unable to.
Other Implications To Existing Standard Chartered Products
If you have other accounts with Standard Chartered, such as deposit accounts, wealth products, or insurance policies, these accounts will not be transferred and will remain unchanged.
However, it isn’t clear yet how the transfer will affect products like the Bonus$aver Account, which earns you up to 0.95% additional interest on your daily balance if you spend at least $1,000 in eligible transactions on your Bonus$aver World Mastercard Credit Card and Debit Card. Standard Chartered is expected to provide more details in the coming weeks.
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