Tiger BOSS Debit Card: Introducing Singapore’s first debit card that rewards everyday spending with fractional shares
The debit card addresses myriad challenges faced by beginner investors such as low starting capital, and incorporates easy investing to everyday spending to promote greater investment awareness and financial literacy amongst investors, while empowering them to take control of their finances and investments #LikeABoss. The debit card is the first in Singapore to offer instant rewards in the form of cashback in fractional shares of popular stocks, on top of competitive foreign exchange rates, as well as a seamless digital-first experience through all mainstream Visa-supported e-wallets including Apple Pay and Google Pay. To supercharge sign-ups, users will receive 1% cashback in TSLA fractional shares, SGD 5 for every successful referral made and a chance to win SGD 888 for every three successful referrals. Tiger Brokers (Singapore) is committed to anticipating its customers’ evolving needs in line with Singapore’s ever-changing financial landscape, and seeks to continue rolling out targeted solutions for local investors.
SINGAPORE, March 5, 2024 /PRNewswire/ — Leading online brokerage firm Tiger Brokers (Singapore) has partnered with Wise Platform to unveil its Tiger BOSS debit card, designed with the needs of today’s investors in mind. This is the first debit card in Singapore that enables users to earn fractional shares for every dollar spent.
Mr Ian Leong, CEO of Tiger Brokers (Singapore), said: "We are delighted to be the first company to release such an innovative debit card solution in Singapore. With our deep understanding of the local market, we’ve developed the Tiger BOSS debit card to address the challenges faced by new investors, particularly limited capital. By linking everyday spending with the card, individuals can access pricier stocks without a large initial investment."
"Furthermore, by offering fractional shares as rewards for everyday spending, we aim to introduce newcomers to investment, and foster awareness and confidence in financial markets. By providing the tools and resources necessary for financial growth, we are committed to democratizing investing and nurturing a generation of informed investors who can navigate the complexities of the market with ease and confidence #LikeABoss."
Introducing fractional shares as a new mode of rewards
Compared to other reward types like cashback, loyalty points and miles, benefits earned in the form of fractional shares do not have a finite lifespan, with no expiry date or lock-up period, giving investors greater flexibility. Additionally, fractional rewards can inspire the joy of investing, allowing new investors to experience the financial world and its potential rewards through the power of compounding and the accumulation of wealth over time.
With the Tiger BOSS debit card, users can start deploying rewards earned into their investments of choice from the time when a transaction is approved. The shorter duration required to accrue or hold rewards means that investors can free up more capital and make regular investment contributions. This feature is especially useful for consumers who may not want to spend a minimum amount every month to accumulate rewards and reap the benefits only at a later point, as is commonly required for credit cards.
Invest with convenience
Beyond financial gains, users can enjoy convenience, security and access to a wide range of investment opportunities. Alongside evolving digital lifestyles, more consumers now choose to use digital payments such as contactless cards and online payments to make everyday purchases.
Once activated, the Tiger BOSS debit card can be added to Apple Pay or Google Pay wallets for contactless payments. Fractional shares will also be instantly accrued once users begin to make eligible purchases on-the-go, without having to wait for a physical card to arrive before users start spending. By removing the hassle of making multiple transfers from their savings accounts into their Tiger Trade accounts, users stand to save time and reap the benefits of a seamless digital experience.
Details of approved transactions will be reflected online almost instantly. Meanwhile, rewards scored will be credited to users’ debit card account one working day after the spend has been made.
Invest with Tiger, grow with Tiger
Paired with the rich range of investment offerings and securities on the Tiger Trade platform, such as stocks, options, futures, ETFs, REITs, unit trusts and funds from various global markets, the launch of the debit card bolsters the group’s capabilities to offer an integrated, one-stop platform for users’ investment and lifestyle needs, available at the touch of one’s fingertips.
In addition, users of the Tiger BOSS debit card can take advantage of competitive foreign exchange rates when they spend overseas.
Mr Leong said: "The Tiger BOSS debit card stands as the latest testament to Tiger Brokers Singapore’s dedication to enhancing the local trading experience. As part of the broader Tiger Group, we have been working hard in democratising investing, particularly here in Singapore amongst novice investors for example. Our commitment is unwavering, focusing on the evolving needs of our local retail investors, positioning us as the trusted partner for Singaporeans in managing their wealth. Anticipate more exciting developments tailored for the investing community in Singapore, as we launch additional locally-focused products in the coming months."
As part of a launch promotion, users who make an eligible transaction using their Tiger BOSS debit card by 30 April 2024 will receive 1% cashback in Tesla fractional shares and receive SGD 5 for every successful referral made. On top of that, users stand a chance to win SGD 888 for every three successful referrals. Terms and conditions apply.
Application for the card is free and instant, and there are no annual subscription fees. The Tiger BOSS Visa debit card is issued by Wise.
How to sign-up for the BOSS debit card
For existing Tiger Trade users (through the Tiger Trade app)
Step 1: Log in to the Tiger Trade app and tap on profile Step 2: Click on "APPLY NOW" after checking the terms & conditions Step 3: Ensure your mailing address is correct and select "APPLY NOW" Step 4: We will receive your details and mail your physical card to you. In the meantime, you can start to use your virtual card instantly. Step 5: Top up your Tiger BOSS debit card Step 6: Choose to top up from your linked bank account or from your Prime Account balance
For users new to Tiger Trade
New users will first need to create a Tiger Trade account, before they can apply for the debit card. The account will be opened within 1 to 3 business days of the account opening application being submitted (but may require more time for certain cases). After your account has been successfully opened, you will receive an SMS notification. Alternatively, you may log in to Tiger Brokers’ official website to check your account opening status.
Download the Tiger Trade app from the Apple App Store (for iOS users) or Google Play Store (for Android users), and follow these instructions to open an account today.
Customers also get to enjoy perks exclusive to new users, such as unlimited commission-free trades for up to one year and a 30-day interest bonus boosted to 8% p.a. Terms and conditions apply.
For more information, please visit https://www.tigerbrokers.com.sg/market/tiger-boss-debit-card. For queries relating to registration, please contact us via email at service@tigerbrokers.com.sg, or call / WhatsApp Chat us at +65 6331 2277.
Tiger Brokers (Singapore) Pte. Ltd. has partnered with Wise to provide card issuance and account issuing services. Wise is the trading name of Wise Asia-Pacific Pte Ltd, which is a company incorporated under the laws of Singapore with Unique Entity Number 201422384R.
Wise Asia-Pacific Pte Ltd is regulated as a Major Payment Institution by the Monetary Authority of Singapore (MAS) license: PS20200413. You can verify this information at the MAS website here. Consumers are advised to read this Customer Agreement carefully.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
Any views shared with Prospective Clients ("Prospects") are suggestive in nature and on a sample basis only. This may also be predicated on assumptions that are made by Tiger Brokers (Singapore) Pte Ltd about the Prospects’ investment objectives and risk profile. Our suggestive and sample views extended to Prospects are not to be considered as recommendations made by the Company. Suggestions provided are also based on information that may be shared by the Prospects, the accuracy and comprehensiveness of which Tiger Brokers is not in a position to verify. Investment involves risk. The price of investment instruments can and do fluctuate, and any individual instrument may experience upward or downward movements, and under certain circumstances may even become valueless. Past performance is not a guarantee of future results. Before making an investment decision, you should speak to a financial adviser to consider whether this information is appropriate to your needs, objectives, and circumstances.
About Tiger Brokers (Singapore) Pte Ltd.
Tiger Brokers (Singapore) Pte Ltd ("Tiger Brokers (Singapore)") is a brokerage firm operating with a Capital Markets Services (CMS) License from the Monetary Authority of Singapore (MAS). Its trading platform, Tiger Trade – available on both online and mobile app (Apple App Store and Google Play Store) offers complimentary real-time stock quotes, dedicated multilingual customer service during trading hours and 24/7 finance news updates. Its online and mobile app trading platform, Tiger Trade, offers complimentary real-time stock quotes, dedicated multilingual customer service during trading hours and 24/7 finance news updates.
Through Tiger Trade, Tiger Brokers (Singapore) offers retail investors in Singapore access to six global exchanges in the US (NYSE, NASDAQ), China (Shanghai/Shenzhen-Hong Kong Stock Connect), Hong Kong (HKEX), Singapore (SGX) and Australia (ASX), with access to investment offerings such as Equities, Exchange-Traded Funds (ETFs), Futures, Stock Options, Warrants, Callable Bull/Bear Contracts (CBBCs), Daily Leveraged Certificates (DLCs), and US-listed over the counter (OTC) equities, and Fund Mall.
Tiger Brokers (Singapore) is the Singapore entity of UP Fintech Holding Limited (NASDAQ: TIGR), known as "Tiger Brokers" in Asia, a leading online brokerage firm focusing on global investors. The group currently serves over 10 million users and over 2 million account holders worldwide on our flagship platform "Tiger Trade", own 77 licenses and qualifications in different markets, and have over 1,000 employees on the team in Hong Kong, Singapore, New Zealand, the US, Australia, and Mainland China.
For its advanced digital capabilities and exemplary customer service, Tiger Brokers (Singapore) was conferred the Fintech – Financial Services at the 2023 SBR Technology Excellence Awards, and included for the second time in a row in the Singapore Best Customer Service Survey 2023/24 by The Straits Times and research firm Statista, in the sub-category of trading and brokerage services, under Real Estate and Banking. In recognition of the high quality of service and information provided to help retail investors to invest smartly, Tiger Brokers (Singapore) was selected as the "Winner" of the Best Retail Broker Award category, in the Securities Investors Association Singapore’s Investors’ Choice Awards 2023.
For more information, please visit https://www.tigerbrokers.com.sg/
About Wise Platform
Wise is a global technology company, building the best way to move and manage the world’s money. Over the last decade, Wise has built an entirely new network for the world’s money.
Thanks to Wise Platform, large companies and banks can leverage Wise’s technology and embed the best way to send, receive, and manage money internationally into their existing infrastructure. With a wide variety of partners worldwide, Wise Platform saves banks and businesses time and money by allowing them to seamlessly bring fast, cheap, transparent and convenient cross-border payments to their customers.
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