DBS has launched a series of ’60-themed’ benefits aimed at supporting heartland merchants in Singapore, coinciding with the nation’s 60th birthday. The initiative, announced on 6 April 2025 at the DBS/POSB “Support Our Heartlands” carnival in Punggol, offers merchants savings of up to S$1,880 through waivers and cashback benefits.
The enhanced Heartland Merchant Banking Package includes a first-year waiver on account fees, no minimum balance, and processing fee waivers for the first 50 GIRO and FAST payments monthly. Additionally, merchants can enjoy six months of free NETS terminal fees, 60% off processing fees for working capital loans, and 6% cashback on Business Advance+ Debit Card spends. A S$60 cashback is also available for maintaining a minimum daily balance of S$20,000 over three months. Merchants signing up before 31 August 2025 stand a chance to win S$6,000.
DBS is also collaborating with partners to offer online courses that equip merchants with digital marketing skills, helping them reach new customers online. Lim Him Chuan, Singapore Country Head at DBS, emphasised the importance of heartland merchants, stating, “They are more than just businesses – they are the heart of our neighbourhoods.”
The carnival, attended by Senior Minister Teo Chee Hean and other officials, featured interactive stations for families to learn about digital and financial habits. The initiative is part of DBS’s ongoing efforts to support financial wellness and business growth in a digital economy.
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