Monday, February 20, 2012

Beauty of Standard Chartered Xtrasaver account

笨mummy has been late in discovering the beauty of the Standard Chartered Xtrasaver account. But it is still better late than never. 


So what is so great about this account? It allows one to get cashback from Mastercard spending (extra for petrol) depending on how much you have in the checking account:

Checking account deposit balanceCashBack on petrol with MasterCardCashBack on local and overseas MasterCard transactions
If you spend on petrolDo not spend on petrol
$6,000 and above7%1%2%
$20,000 and above10%1%2%
$50,000 and above12%1.5%3%
$200,000 and above15%1.5%5%



In addition, there is also 0.5% cashback from Nets transaction. This is what that makes 笨mummy excited over the Xtrasaver account. 


Every Jul, 笨mummy needs to pay her annual insurance premium of $3.5K to Prudential and the best credit card to use is , of course, the Standard Chartered Manhattan Credit Card that offers a 5% rebate on any spending of $3K in the month (capped at $200 cash rebate per quarter). 


Now with the Xtrasaver debit card, 笨mummy can now pay the bill to her Manhattan Credit Card using the Net function of Xtrasaver debit card at the AXS machine and this would give her an additional $17.5. 


To let more about Xtrasaver account, please refer to http://www.standardchartered.com.sg/personal-banking/deposits/xtrasaver/en/

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