GXS Bank Referral Code KELV938 – Savings Account, 3 Cards & Review
A Digital Bank Owned By Grab and Singtel
Sign up with GXS Bank using the referral code: KELV938.
Products you can apply for, subject to eligibility:
- GXS Savings Account – Daily interest; eligible Singapore-dollar deposits are SDIC-insured up to S$100,000 in aggregate per depositor per scheme member
- GXS Debit Card – An instant reward draw with each eligible transaction of at least S$10
- GXS Credit Card – Cashback on eligible everyday, Grab and Singtel spending, plus zero foreign-exchange fees
- GXS FlexiCard – An interest-free, fee-based credit card with a S$500 credit limit and instant cashback rewards
- GXS FlexiLoan – A flexible credit line with multiple repayment options
Existing customers can earn S$8 for each eligible friend who opens a GXS Savings Account using their referral code. The current referral offer ends 31 December 2026 and is subject to the referral terms.
Table of Contents
About GXS
Launched on 31 August 2022, GXS Bank is a MAS-licensed digital bank in Singapore offering daily-interest savings accounts, flexible credit products, and app-based banking with no minimum balance requirements.
It is a joint venture between Grab and Singtel, and focuses on underserved segments such as gig workers, freelancers, and small businesses through simple, digital-first banking solutions.
Key Advantages of GXS Bank
- Fully digital banking, with no physical branches
- Integration with Grab and GrabPay for convenience
- Data-driven personalisation for savings and credit products
- Flexible product design, without minimum balances or long commitments
Products
This guide focuses on selected GXS Bank products and promotions and does not represent an exhaustive list of all offerings.
GXS Savings Account — Daily Interest & Savings Pockets
Earn interest daily. Insured up to S$100,000 by SDIC.
The GXS Savings Account credits interest daily and allows users to organise funds into named Saving Pockets for different goals.
Key features:
- Daily interest crediting, instead of monthly
- No minimum balance requirement
- Main Account interest rate: 0.88% p.a.
- Saving Pocket interest rate: 1.08% p.a.
- Boost Pockets with fixed tenures and rates locked in when the pocket is opened:
- 1 month: 1.01% p.a.
- 3 months: 1.22% p.a.
- 4 months: 1.40% p.a.
- 8 months: 1.30% p.a.
- 12 months: 1.75% p.a.
- PayNow and bank transfers
Boost Pocket rates comprise base interest credited daily and bonus interest paid on the principal at maturity. Rates and available tenures may change; check the GXS Savings Account page before opening a pocket. Early closure of a Boost Pocket is subject to GXS Bank’s approval and discretion.
Three GXS Cards: What Is the Difference?
GXS now offers three cards with different funding and repayment structures:
| Card | Card type | Main feature | Important consideration |
|---|---|---|---|
| GXS Debit Card | Debit card linked to the GXS Savings Account | Instant reward draw for eligible transactions of at least S$10 | Spending is deducted from your own account balance |
| GXS FlexiCard | Interest-free, fee-based credit card | S$500 credit limit and instant cashback rewards | A S$5 Flexi fee applies when only the minimum payment is made |
| GXS Credit Card | Conventional cashback credit card | Cashback on eligible everyday, Grab and Singtel spending | Interest applies to carried balances; a S$100 late fee applies if the minimum payment is not met |
GXS states that an applicant can currently be eligible for either the GXS Credit Card or GXS FlexiCard, but not both. The GXS Debit Card is a separate debit product linked to the GXS Savings Account.
GXS Debit Card — Instant Rewards
The GXS Debit Card offers an instant reward draw for each eligible transaction of at least S$10. GXS states that there is no limit on the number of rewards customers may earn.
The card also has no foreign transaction fee or exchange-rate markup imposed by GXS, although transactions are converted into Singapore dollars at the card association’s prevailing exchange rate. Eligibility and exclusions are set out in the Debit Card Rewards Terms.
GXS Credit Card — Cashback Credit Card
A cashback credit card with rewards for eligible everyday, Grab and Singtel spending.
Get 10% unlimited instant cashback on eligible overseas Grab spending.
This includes GrabTukTuk rides in Thailand and other eligible overseas Grab spending, with no minimum spend. The GXS Credit Card also charges zero foreign-exchange fees on overseas transactions. Terms and conditions apply.
The GXS Credit Card shares a flexible credit limit with GXS FlexiLoan. You can allocate the available limit between card spending and eligible FlexiLoan drawdowns through the GXS app.
Current cashback structure:
- Eligible local non-Grab spending: 1.75% unlimited cashback after reaching at least S$500 in eligible non-Grab spending within the billing cycle
- Eligible Singtel bills: 1.75% unlimited cashback, with no minimum spending requirement
- Eligible Grab spending: 3% back in GrabCoins with no minimum spend
- Eligible Grab spending from S$500 to S$999.99: 5% back in GrabCoins after also reaching S$500 in eligible non-Grab spending within the billing cycle
- Eligible Grab spending of at least S$1,000: 10% back in GrabCoins after also reaching S$500 in eligible non-Grab spending within the billing cycle
- Eligible overseas Grab spending: 10% back in GrabCoins, with no minimum spend
Grab cashback is awarded as GrabCoins rather than cash. Grab Wallet top-ups, PayLater and other excluded transactions do not earn these rewards.
Other key details:
- Zero foreign-exchange fees charged by GXS on overseas card spending
- Annual fee: S$196.20 including GST; waived for the first year for customers approved by 31 December 2026
- Interest: 29% p.a. on applicable outstanding balances
- Minimum income: S$30,000 a year for Singapore citizens and permanent residents; S$120,000 for eligible foreigners holding a qualifying pass
- Late fee: S$100 if the required minimum payment is not made
Cashback rates, eligibility, fees and exclusions may change. Refer to the GXS Credit Card page and the linked product terms before applying.
GXS FlexiCard — Interest-Free, Fee-Based Credit Card
An interest-free, fee-based credit card with no minimum income requirement and a S$500 credit limit.
The GXS FlexiCard is available as both a virtual and physical card.
Key features:
- No interest charges
- Instant cashback of up to S$3 for each eligible transaction of at least S$10, with no stated limit on the number of rewards
- No foreign transaction fee charged by GXS on overseas card spending
- S$54.50 annual fee, inclusive of GST, waived for the first year; subsequent waivers are subject to annual review
- S$5 Flexi fee when only the minimum payment is made for a billing cycle
- S$50 late fee when the minimum payment is not received by the due date
- Minimum payment from S$15, plus applicable overdue amounts and fees
- Real-time spending visibility via the GXS app
Fees and eligibility are subject to the prevailing GXS FlexiCard terms.
GXS FlexiLoan — Flexible Cash Access
GXS FlexiLoan offers flexible borrowing options directly in the app, with transparent pricing and repayment structures.
Refer to the FlexiLoan article for full details.
GXS Invest 2.0
GXS Invest provides access to five curated funds across cash, bonds, diversified portfolios, growth stocks and gold. The funds are managed by Fullerton Fund Management or Lion Global Investors.
Instead of researching individual stocks or building a portfolio from scratch, you can choose from ready-made funds based on your risk appetite, investment horizon and financial goals.
You can start investing from S$10 for four of the funds. The minimum for GXS Invest Gold is S$100. Purchases are funded from your GXS Savings Account.
GXS Invest fund options
| GXS Invest fund | What it is for |
|---|---|
| GXS Invest Cash Plus | A liquid option for idle cash, with daily returns |
| GXS Invest Bond | A bond-focused fund for those who want to preserve capital with exposure to high-quality government and corporate bonds |
| GXS Invest Diversified | A simple all-in-one portfolio with exposure to stocks, bonds and gold |
| GXS Invest Growth | A growth-focused option for long-term wealth building through global growth stocks |
| GXS Invest Gold | Access to a physical gold fund holding gold bars vaulted in Singapore |
Why GXS Invest may be worth considering
GXS Invest is designed to make investing simpler for beginners and casual investors.
Some key highlights include:
- Start from S$10: Cash Plus, Bond, Diversified and Growth have a S$10 minimum; Gold has a S$100 minimum.
- 5 curated funds to choose from: You can pick from cash, bond, diversified, growth and gold options depending on your needs.
- No platform or transaction fees: GXS states that there are no platform fees or transaction fees when you buy or sell.
- No lock-in: This gives users more flexibility compared to products that require a fixed commitment period.
- Fund directly from your GXS Savings Account: Your GXS Savings Account is all you need to fund your investments.
Who GXS May Be Suitable For
GXS may be suitable for individuals who:
- Prefer fully digital banking
- Have variable income, such as gig workers or freelancers
- Want daily-interest savings without minimum balances
- Actively use short-term campaigns and Boost Pockets
It may be less suitable for those seeking physical branches, or complex wealth products.
Auntiehuat
Web Administrator
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