Maybank Singapore Ltd. is encouraging holders of its credit cards to use Giro payments to pay their monthly card bills with the launch of its “Pocket me Giro” rewards program, the bank announced June 14.
Under the program, the bank is setting aside SG$5 million (US$3.6 million or 2.9 million euros) for its customers who make payments using Giro, an automated service that debits users’ bank accounts through an automated clearing system to settle bills.
Participating Maybank customers set up their Maybank credit card bills to be paid using Giro from their Maybank checking or savings account. The bank then will round up a customer’s spending to the nearest SG$5 and let the customer keep the difference, meaning each customer could pocket up to SG$5 by paying his Maybank credit card using Giro, according to a statement from the bank.
Maybank automatically will credit the cash reward to the customer’s designated Maybank savings or checking account the following month, once the bill-payment paid through Giro is settled.
“The incentive will run from now until June 2011 for Giro payments of Maybank credit card bills,” Helen Neo, Maybank Singapore head of consumer banking, said in the statement. “Customers will be able to pocket a maximum bonus of SG$60 for the 12-month period.”