Quicktip #1 Maximising Public Transport Cashback with Revolut
Update: Revolut now requires $300 instead of $100 bank transfer. Promo until 30 September 2022.
I have seen many fellow locals asking on Reddit – “Which Savings account should I use?” kind of questions. The yield on that is low and most likely would not make an impact at all. Why not consider optimizing other aspects of your life such as expenses? Let’s zoom in on public transport, most of us take the MRT or bus daily to get around. With the ever-increasing transport fares, your Ez-link or concession just isn’t going to cut it.
Introducing the knight in shiny armor – Revolut! Their monthly public transport campaign 20% cashback is back along with 20% cash back for spending at 7-Eleven islandwide! The former runs from Jan to March while the latter is only for January. #non-sponsored post 😊
This little plastic card may not be as flashy as your Crypto Dot Com Visa Card, but it is an underrated tool that most people fail to utilize. The reason why it is my secret weapon against fare hikes – the 20% cashback. That’s right you heard it right, 20%! That is more than the cashback given by most credit cards out there or even triumph over them completely.
They are currently undergoing a public transport campaign since last year. I have been using it for a few months now, it has been working as expected.
As you can see from the photo, I was given $7 cashback for what I spent in September on public transport. About $7 out of $35 was given back to me effortlessly!
‘Eh, where got so good one, you ask?” Yes, there are some minor drawbacks and inconveniences for topping up your Revolut card, but it is just a few clicks that can net you substantial cashback. It is worth it for me.
How to top up your Revolut card?
One caveat about this is that you must only use Bank transfers and not any other methods. Here’s a chart from their official website, as you can see only bank transfers will net 20% cashback.
Here’s my way of topping up. Click on Add money > Regular bank transfer > Copy account details > Go to your bank and click ‘transfer to DBS accounts’, fill in the amount of
$100 $300 and you are done!
To send it back, just click send and add your account details! It is hassle-free and has zero fees. You do not have to keep the said hundred dollars in your Revolut account if you don’t want to. As long as you have deposited, Revolut will register that
$100 $300 and you automatically qualify for 20% cashback. You can just keep the minimum amount for your transport spending.
Things to note
- The cashback will be given the following month. It will not work if you deposit in September and only spend in December, it must be in the same month
- The 20% only works on Public Transport spending.
- You MUST use bank transfers only, not through any other cards, otherwise, the cashback will not be 20%
I like what Revolut is doing here and hope that they can keep up with this cashback campaign permanently. That’s all, folks! Stay safe, keep saving and enjoy what life has to offer.
If you have yet to sign up for Revolut, feel free to use my link below!
Sign up with my link: https://revolut.com/referral/yonghu4v7r!DEC1AR
Note that this is a non-sponsored article, it is written with you, our readers in mind.