Trust Bank: the digital bank of Standard Chartered and the FairPrice Group in Singapore

Trust is a brand operated by Trust Bank Singapore Limited, a Singaporean company registered under number 202039712G, whose website displays the partnership between Standard Chartered and the FairPrice Group. A professional directory that reproduces the register of financial institutions of the Monetary Authority of Singapore (Financial Institutions Directory, extract dated 17 October 2026) lists it among the full banks ("Full Bank"). An encyclopaedic source likewise states that the bank operates "under a full bank licence issued by the Monetary Authority of Singapore", and that it was launched on 1 September 2022.

Trust is not one of the two full digital banks that emerged from the MAS's 2020 call for applications (GXS and MariBank): it is a bank backed by an international banking group. We classify it among licensed banks (licensed-bank).

The MAS Financial Institutions Directory entry could not be opened directly from our research environment: the licence is attested by two consistent secondary sources, one of which reproduces this directory. Confirmation with the register remains advisable.

The help centre of the Link programme states that the Trust savings account is available to Singapore citizens, permanent residents and foreigners aged at least figure being updated. The account is opened through the app.

The pages we read do not specify which residence permits are accepted, whether a Singapore address and Singpass access are required for a foreigner, or whether a non-resident can open an account. Nor do they say anything about what happens to the account after leaving Singapore.

The offering includes a savings account in Singapore dollars, a debit card linked to the FairPrice Group's rewards programme, consumer credit and access to funds and US equities; for the latter, the home page refers to an investment denominated in US dollars. The bank account itself is not presented as multi-currency.

We do not reproduce the rebates or rates displayed on the home page: they belong to undated commercial offers. Foreign exchange and withdrawal fees were not found on an official page.

Trust's home page states that Singapore dollar deposits of non-bank depositors are insured by the SDIC up to up to SGD 100,000¹ in total per depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

Assets invested in funds or equities are not covered by this protection: their protection depends on the regime applicable to securities and on the custodian.

• The exact eligibility of a foreigner: accepted residence permit, address, Singpass; to be confirmed in the app before relying on this account.
• The status on the MAS register, attested here by secondary sources.
• The distinction between protected deposits (in Singapore dollars) and invested assets, which are not covered by the SDIC.
• The position of the account in the event of leaving Singapore, which is not documented.
• Reporting obligations linked to your tax residence: a French tax resident must declare each year accounts opened, held, used or closed outside France, including those with online banks and payment wallets; other countries impose comparable obligations.