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 balance | CashBack on petrol with MasterCard | CashBack on local and overseas MasterCard transactions | |
| If you spend on petrol | Do not spend on petrol | ||
| $6,000 and above | 7% | 1% | 2% |
| $20,000 and above | 10% | 1% | 2% |
| $50,000 and above | 12% | 1.5% | 3% |
| $200,000 and above | 15% | 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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