Wednesday, July 2, 2014

Get free $60 cash with Dash - by Singtel and Standard Chartered bank

Who doesn't like free money when it's given out? I just signed up for a new Dash account and was instantly given $10 cash deposited inside my account. To get another $50, you just have to put in $8000 into the newly opened Dash easy savings account by 31 July and $50 will be credited to your account by 31 August 2014. Another thing is the savings account lets you earn higher interest rates up to 1%. It is currently at 0.3% and is still going up. Opening the account can be done easily and entirely through your phone. Don't even have to go down to the bank. Just download the app from Apple's app store or Android's play store.



What is Dash?

They have been aggressively marketing this and i've seen the whole MRT train filled with posters of it. Dash is an innovative mobile money service created by SingTel and Standard Chartered. Yes, the Telco is gaining its foot into the financial industry. Dash lets you send cash to friends, spend at shops and cabs all on your mobile phone. The savings account also lets you save at higher interest rates up to 1%.


I think this is just the beginning of what is to come in the future. When it gets more popular and more retail shops and businesses accept this form of payment, it will definitely revolutionise the way we pay for the things we buy or the services we engage. The idea is to make money easily accessible without the need of an ATM. 

Currently Dash partners includes:
Adidas
ComfortDelgro Taxi
G2000
KFC
KOI cafe
Pizza Hut
Prime Taxi
Singtel Shop
SMRT Taxi
Spinelli
Topshop Topmen
Watsons
Dorothy Perkins
Ben Sherman
and a few others...


As mentioned earlier, open an account and you will get a complimentary $10. Don't need to go down to the bank or mail in any documents. Everything can be done on the app itself including uploading of your NRIC. For more information, please visit www.dash.com.sg.


This video gives a good overview of how Dash works:



*Disclaimer - This is not a sponsored post. This is what I have personally signed up for and tried it itself. 

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11 comments:

  1. InvestopenlyJuly 2, 2014 at 10:45 PM

    Thanks for sharing.. Just sign up and gotten the 10 bucks. But don't think will go for the 50 bucks ;-)

    ReplyDelete
    Replies
    1. SGYIJuly 3, 2014 at 7:09 AM

      Hi Richard,

      That's good to hear. I did put $8000 in my account just for the $50. Haha. But anyway, the interest rate is higher there now so you can consider putting any extra cash inside. Our few local banks are giving too low an interest.

      Delete
    2. SGYIJuly 3, 2014 at 7:09 AM

      Forgot to mention. The interest is credited inside your account on a monthly basis. Don't have to wait till end of the year.

      Delete
    3. InvestopenlyJuly 3, 2014 at 8:09 AM

      I see, thanks for highlighting.. Any idea how long will this high interest rate last? I assume it will not be perpetual

      Delete
    4. SGYIJuly 3, 2014 at 10:23 AM

      They stated its till end august or September. After that will have other schemes which they will introduce.

      Delete
  2. BJuly 3, 2014 at 8:28 AM

    Hi SGYI

    Does this work like paypal or 3rd party money vendors?

    ReplyDelete
    Replies
    1. SGYIJuly 3, 2014 at 10:28 AM

      Hi B,

      I think the concept is similiar. The difference is they are able to work with retailers to accept their form of payment. Its like your phone becomes your wallet now.

      Delete
  3. SgpropertyincJuly 6, 2014 at 12:35 PM

    Thanks for sharing. Have u used the $ yet
    . Must the other party install dash too?

    ReplyDelete
    Replies
    1. SGYIJuly 6, 2014 at 12:43 PM

      Hi Sgpropertyinc,

      The $ is still in the account. Actually you don't have to use it. Can transfer the $ out also.

      The other party have to install dash too in order for you to transfer cash to him or her.

      Delete
  4. rogerJuly 7, 2014 at 1:37 PM

    hi sgyi

    may i know how do i transfer 8k from posb to this acct and also is there a min period whereby i need to maintain this 8k in the acct

    thks

    roger

    ReplyDelete
  5. SGYIJuly 7, 2014 at 2:08 PM

    Hi roger,

    You can transfer by using internet banking. They stated that you have to have 8k by 31 july and $50 will be credited to your account by end of august. Its better to maintain the 8k till you see $50 being credited in.

    ReplyDelete

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