This is really a great piece of marketing work from Singlife. Though late into the referral game, this is some good way to get and garner new acquisitions. It is well known that Singaporeans are pretty starved for yields. This insurtech firm is one that I have wrote about recently and it is a good product.
(Updates 1 Nov 2020): I received an email from Singlife communications – As a heads up, Singlife Paid Referral Programme will come to a close on 1 November 2020.
All referees (i.e. people who have been referred) who have successfully in-forced their Singlife Account by 1 Nov 2020 will have up to fifteen business days (i.e. 20 Nov 2020) to order and activate their Singlife Visa Debit Card for both you and your referee to still qualify for the S$10 referral bonus.
You also probably received an email from them on 30 Oct 2020 notifying of the upcoming termination.
As from their excerpt:
“Singlife’s Paid Referral Programme has enjoyed a successful run and will come to a close as of 1 November 2020. Thank you for all your support! Upon the Effective Date of Termination (1 Nov 2020), all referees who have successfully in-forced their Singlife Account(s), by the Effective Date of Termination, will have up to fifteen business days (i.e. by 20 Nov 2020) to order and activate their Singlife Visa Debit Card to qualify for the S$10 bonus.”
Still, the good and bad and them. It is still a decent alternative cash source.
The Good about Singlife
I’ll have one more strong and valid point to date with this referral scheme.
- A referral fee of S$10 is deposited in your Singlife account for each friend you invite to Singlife and there are no cap for this. Each friend gets S$10 too so if you find this useful, do use my link to sign up here: https://app.singlife.com/S49MSfXlF8
- SDIC covered
- Relatively high interest rate for the first $10k
- Simple and fuss-free – registration and login all done online
- You can also spend normally like what a debit card does, having a functioning physical card.
- Transfers are all ifast which is really impressive and same day receipt
- Customer service is pretty responsive and quick to reply (Live chat and email)
- Some form of insurance is complimentary including retrenchment insurance (It’s not a lot but it is a nice gesture)
- No-contract, no terms no fees when you withdraw.
You can read my previous post about Singlife: https://lifejourney.blog/2020/06/26/low-or-no-interest-where-to-park-your-funds/
Find out more here: https://singlife.com/
If you like what I am sharing or if it resonates with you, do use my referral codes for other services at https://lifejourney.blog/contact/
The pictures were taken from Singlife website for this article.