Tiger Brokers Singapore Unveils Debit Card with Instant Fractional Share Rewards

Xiaomi-backed on-line brokerage Tiger Brokers Singapore has collaborated with on-line cash switch service Smart to introduce the Tiger BOSS debit card.

The debit card provides its customers the chance to earn fractional shares with each greenback spent, which in contrast to cashback or loyalty factors, don’t expire in a bid to mix day by day spending with funding alternatives.

With the Tiger BOSS debit card, customers can begin deploying rewards earned into their investments of alternative from the time when a transaction is authorized.

The shorter period required to accrue or maintain rewards signifies that traders can liberate extra capital and make common funding contributions.

This characteristic is very helpful for customers who might not need to spend a minimal quantity each month to build up rewards and reap the advantages solely at a later level, as is usually required for bank cards.

As soon as activated, the Tiger BOSS debit card could be added to Apple Pay or Google Pay wallets for contactless funds. Fractional shares may also be immediately accrued as soon as customers start to make eligible purchases on-the-go, with out having to attend for a bodily card to reach earlier than customers begin spending.

Particulars of authorized transactions can be mirrored on-line virtually immediately. In the meantime, rewards scored can be credited to customers’ debit card account one working day after the spend has been made.

With the Tiger Commerce platform, cardholders have entry to a broad spectrum of funding choices, from shares to ETFs and unit trusts, throughout international markets. The cardboard additionally provides aggressive overseas change charges for abroad spending, additional enhancing its worth proposition.

To have fun the launch, Tiger Brokers is providing a promotional 1% cashback in Tesla fractional shares for eligible transactions made by 30 April 2024, alongside rewards for profitable referrals. The appliance course of for the cardboard is simple, with no annual charges.

Ian Leong

Ian Leong, CEO of Tiger Brokers Singapore stated,

“By linking on a regular basis spending with the cardboard, people can entry pricier shares with out a big preliminary funding. Moreover, by providing fractional shares as rewards for on a regular basis spending, we goal to introduce newcomers to funding, and foster consciousness and confidence in monetary markets. Anticipate extra thrilling developments tailor-made for the investing group in Singapore, as we launch extra locally-focused merchandise within the coming months.”

Featured picture credit score: Edited from Freepik