Are you looking for a debit card that offers excellent perks and benefits? Look no further than the FRANK Debit Card. Designed specifically for young adults and students, this card provides a range of features that make it an excellent choice for anyone looking to manage their finances.
With this debit card, you can earn a 1% rebate when you shop, eat and ride. Choose from over 120 stylish card designs that let you express your style. Plus, you can manage your money anytime, anywhere with digital banking. The FRANK Debit Card makes it easy to save, invest, or stay on top of your finances.
This article will examine everything you need to know about this debit card. From eligibility and application to fees, rewards savings, and more, we’ll cover it all. So, if you’re ready to take control of your finances and start enjoying all the benefits of this debit card, keep reading.
Key Takeaways
- The FRANK Debit Card is great for young adults and students looking to manage their finances.
- With over 120 stylish card designs, you can express your style while earning a 1% rebate on your spending.
- From eligibility and application to fees, rewards and savings, we’ll cover everything you need to know about the FRANK Debit Card.
Understanding Frank Debit Card
If you’re looking for a unique debit card with a quirky design, this debit card might be the right fit for you. Here’s everything you need to know about Frank Debit Cards.
What Is a Frank Debit Card?
The debit card is a Visa debit card offered by OCBC Bank. It’s a unique card that stands out from the crowd with its quirky and colourful designs. The card designs are created by the Little Dröm Store graphic designers and are updated regularly to keep up with the latest trends.
Over 60 customisable card face designs make it a fun and personal payment method.
The Unique Appeal of Frank Cards
One of the unique features of this debit card is its limited edition design. For example, in celebration of National Day, the card designs feature the iconic Merlion and other Singaporean symbols. These little edition designs are only available for a limited time, so watch for them.
Another appealing feature of this debit card is that it’s not just a regular one. It’s also linked to a Frank Account, a savings account perfect for young adults. With the Frank Account, you can earn higher-than-average interest rates on your savings, making it a great way to save money.
Frank Account Basics
To open a Frank Account and get this debit card, you must be between 16 and 26. You’ll also need to have a valid NRIC or passport, as well as a minimum initial deposit of $500. Once you have your debit card, you can use it to make purchases online and in-store and withdraw cash from ATMs.
The Frank Debit Card is a fun and unique way to pay, with its quirky designs and linked savings account. If you’re a young adult looking for a debit card that’s a little different, this debit card might be the right fit for you.
Frank Debit Card: Eligibility and Application
If you are looking for a debit card that offers cashback and rewards, the OCBC Frank Debit Card might be the one for you. Here’s what you need to know about the eligibility and application process.
Frank Debit Card: Who Can Apply?
The OCBC Frank Debit Card is available to Singaporeans, Permanent Residents, and foreigners at least 16 years old. If you are a foreigner, you must have a valid employment pass, student pass, or long-term visit pass.
Application Process Simplified
The application process for the OCBC Frank Debit Card is straightforward. If you are an existing OCBC customer, you can apply for the card online via internet banking. Alternatively, you can visit any OCBC branch or Frank store to apply in person.
If you are a Singaporean citizen or Permanent Resident, you can apply for the card online via MyInfo. MyInfo is a government digital service that allows you to use your SingPass or CorpPass to automatically fill in your details when you apply for the card. This makes the application process even more convenient and hassle-free.
To apply for the card, you must provide basic information, such as your NRIC or passport number, employment status, and income. You will also need to give a simple sum to activate your card once you receive it.
Overall, the application process for the OCBC Frank Debit Card is quick and easy. With the added convenience of MyInfo, you can apply for the card from the comfort of your home.
Using Your Frank Debit Card
Your Frank Debit Card is a powerful tool to help you manage your finances and enjoy exclusive deals and offers. Here are some ways to use your card to make the most of its features.
Everyday Transactions
Your debit card is accepted by millions of merchants worldwide, both online and offline. You can use it to pay for groceries, food, and other essentials. You can also use your card to pay for your transport fares on MRT, buses, and taxis with NETS, Visa or Mastercard.
Exclusive Deals and Offers
As a Frank Debit Card holder, you can enjoy exclusive deals and offers at various merchants. You can enjoy cashback, rebates, and other benefits when you use your card to pay for your meals, shopping, and entertainment. You can also enjoy Grab, Go-Jek, Comfort CityCab, and SimplyGo discounts.
Digital Convenience
Your Frank Debit Card comes with digital convenience that allows you to access your money anytime, anywhere. You can use your card to make payments online using a QR code and other digital payment methods. You can also use your card to withdraw cash at ATMs or purchase at Cheers, 7-Eleven, and other convenience stores.
In summary, your debit card is a versatile and powerful tool that can help you manage your finances and enjoy exclusive deals and offers. With its digital convenience and wide acceptance, you can use your card to make payments for your daily essentials, enjoy cashback and rebates, and access your money anytime, anywhere.
Frank Debit Card: Fees and Charges
Understanding the Costs
When managing your finances, it’s essential to understand the fees associated with your debit card. The debit card by OCBC Singapore is an excellent option for students and young adults, as it offers a range of benefits and features. However, knowing the costs involved is essential to avoid unnecessary charges.
One of the key benefits of this debit card is that there is no minimum balance requirement or fall-below fee for applicants below 26 years old. This means you can use your card without worrying about maintaining a certain balance in your account. However, if you’re over 26 years old, you’ll need to keep an average daily balance of at least S$1,000 to avoid a S$2 monthly service fee.
Another fee to be aware of is the card replacement fee. If you need to replace your card, you won’t be charged for the first two replacements within 12 months. However, a S$30 card replacement fee applies from the third replacement onwards. From 1 January 2023, the card replacement fees from the third card replacement onwards will be updated to S$32.40.
Avoiding Unnecessary Charges
To avoid unnecessary charges, it’s essential to understand the eligible transactions for earning cashback. The FRANK Debit Card helps you save with 1% cashback on selected convenience stores, fast food services, ride-hailing, and online fashion and shopping. However, you’ll need to charge your card at least S$400 per month in order to qualify for cashback.
It’s also important to know the fees associated with foreign currency transactions. If you use your debit card to make purchases in a foreign currency, you’ll be charged a currency conversion fee of 1.8% of the transaction amount. The card network charges this fee, and is not waived by OCBC.
Finally, if you need to withdraw cash from an ATM using your debit card, you’ll be charged a fee of S$2 per withdrawal. This fee is waived for withdrawals made at OCBC ATMs in Singapore.
By understanding the costs associated with this debit card, you can avoid unnecessary charges and maximise its benefits.
Frank Debit Card: Rewards and Savings
Frank Debit Card: Maximising Your Savings
With this debit card, you can earn up to 1% rebate on your spending when you shop, eat, and ride. But did you know that you can maximise your savings even further? By linking your FRANK Debit Card to an OCBC Frank Account, you can earn an interest rate of 0.20% for the first S$10,000 in your account, rising to 0.40% for balances above S$10,000.
This means that you will not only be earning rebates on your spending but also earning interest on your savings. Combining these two features allows you to maximise your savings potential and get the most out of your debit card.
Frank Debit Card: Rewards Programme
In addition to the savings you can earn through the debit card and OCBC Frank Account, several rewards are available through the FRANK Rewards Programme. With this debit card, you can earn 1% unlimited cashback on fast food dining, online shopping, entertainment, eco-friendly merchants, transport, and convenience stores.
But that’s not all! You can also earn bonus cashback at Apple and Samsung stores (till 31 Oct 2023). With over 60 customisable card face designs, you can make your debit card as unique as you are.
The FRANK Debit Card offers a great way to save money and earn rewards on your spending. By linking your card to an OCBC Frank Account and taking advantage of the FRANK Rewards Programme, you can maximise your savings potential and get the most out of your money.
Frank Debit Card: Additional Features
Travel Benefits
If you are a frequent traveller, this debit card covers you. With its Visa logo, you can use the card to make purchases and withdraw cash in most places worldwide. Additionally, the card offers competitive foreign exchange rates, which means you can save money on currency conversion fees when travelling abroad.
But that’s not all. The debit card also comes with travel insurance coverage. You can enjoy up to S$500,000 in coverage for travel accidents and up to S$3,000 for trip cancellations or delays. So, you can travel with peace of mind, knowing that you are protected against unforeseen circumstances.
Eco-Friendly Initiatives
Frank Debit Card is not just a financial product; it’s a way of life. The card is designed to promote eco-friendly initiatives, which means that every time you use the card, you are contributing to a better world.
The debit card offers cashback rewards for eco-friendly purchases, such as public transport, cycling, and shopping at eco-friendly merchants. By using the card for these purchases, you are saving money and doing your part in reducing your carbon footprint.
Moreover, this debit card is made of recycled plastic, which means that every time you use the card, you are helping to reduce plastic waste. The card also comes with a feature that allows you to track your carbon footprint and monitor your impact on the environment.
In conclusion, the Frank Debit Card is more than just a financial product. It offers a range of additional features that cater to your travel needs and promote eco-friendly initiatives. With this debit card, you can save money, travel with peace of mind, and contribute to a better world.
Frank Debit Card: Managing Your Card
Congratulations on getting your FRANK Debit Card! Now that you have your card, it’s important to know how to manage it properly. In this section, we will discuss how to maintain and support your card, as well as how to keep it secure and protected.
Card Maintenance and Support
To ensure that your FRANK Debit Card is in good condition and working properly, you need to take care of it. If your card is damaged, lost, or stolen, you can request a replacement card. You can do this by filling out a Debit Card Maintenance Form at any FRANK branch.
There is a replacement charge for lost or damaged cards, but this will depend on the circumstances of the loss or damage. If your card is lost or stolen, you should report it immediately to FRANK’s customer service hotline to prevent any unauthorized transactions.
If your card is expiring soon, you will receive a renewal card by mail. You can activate your renewal card by following the instructions that come with it or by visiting any FRANK branch.
Security and Protection
Your FRANK Debit Card is protected by the Deposit Insurance Scheme, meaning your deposits are insured up to a certain amount. However, it would be best if you still took precautions to keep your card secure.
Always keep your card in a safe place, and never share your PIN with anyone. When using an ATM, make sure that there are no suspicious devices attached to the machine and cover the keypad when entering your PIN. If you suspect that your card has been compromised, contact FRANK’s customer service hotline immediately.
In conclusion, managing your FRANK Debit Card is easy as long as you take care of it properly and keep it secure. If you have any questions or concerns, don’t hesitate to contact FRANK’s customer service for assistance.
Beyond Banking with Frank Debit Card
Frank Debit Card is not just a regular debit card. It is an all-in-one card that offers you much more than just banking services. With Frank, you get access to a range of exclusive benefits and services that help you achieve financial independence and literacy while engaging with the community.
Financial Literacy and Independence
Frank Debit Card comes with Ta-Da!, a financial literacy programme that helps you understand the basics of personal finance. Ta-Da! offers you a range of tools and resources that help you manage your money better, including budgeting tips, investment advice, and debt management strategies. With Ta-Da!, you can take control of your finances and achieve financial independence.
Community Engagement
Frank Debit Card also helps you engage with the community. With Frank, you get exclusive discounts and promotions at SBS Transit, drinking places, and other participating merchants. You can also participate in events and activities organised by Frank, such as the Coldplay concert or the Lucky Draw.
Frank also rewards you for referring your friends to the card. When you refer a friend using your unique referral link, both you and your friend can enjoy exclusive benefits and rewards.
Moreover, Frank is committed to promoting responsible borrowing and lending practices. It has partnered with Ollie, an AI-powered chatbot that helps you manage your debts and avoid falling prey to Ah Longs. With Ollie, you can get personalised advice and support on managing your debts and avoiding financial pitfalls.
In summary, Frank Debit Card is not just a regular debit card. It is an all-in-one card that offers you access to a range of exclusive benefits and services that help you achieve financial independence and literacy while engaging with the community.
Frequently Asked Questions
What splendid benefits can I expect from using a FRANK Debit Card?
Using a FRANK Debit Card comes with many benefits. With every transaction, you’ll earn a 1% rebate on your spending. This rebate is automatically credited to your account, so you don’t have to worry about redeeming points or any complicated reward schemes. The FRANK Debit Card also offers contactless payments for transactions up to £45, making it quick and easy to pay for your purchases.
How can I jazz up my wallet with a FRANK Debit Card design?
FRANK Debit Card designs come in over 60 different styles, so you can choose a design that reflects your personality and style. You can select your preferred design when you apply for the card online, and if you ever want to change the design, you can do so through the FRANK app.
What’s the minimum balance I need to keep in my FRANK account, and why should I care?
There is no minimum balance requirement for a FRANK account, so you can keep as much or as little money in your account as you like. However, it’s important to note that if your account balance falls to zero, you won’t be able to use your FRANK Debit Card for any transactions.
Is it possible to use my FRANK Debit Card when I’m gallivanting abroad?
Yes, you can use your FRANK Debit Card to make purchases and withdraw cash from ATMs when you’re travelling abroad. However, you may be charged a foreign transaction fee or an ATM withdrawal fee, so it’s important to check the fees and charges before you travel.
How do I go about withdrawing cash using my FRANK card?
To withdraw cash using your FRANK Debit Card, simply insert your card into the ATM and follow the on-screen instructions. You’ll need to enter your PIN to complete the transaction, and you may be charged a fee for using an ATM that doesn’t belong to your bank.
Can you walk me through the process of logging in to manage my FRANK Debit Card online?
To manage your FRANK Debit Card online, you’ll need to log in to your FRANK account through the OCBC internet banking portal. Once you’ve logged in, you’ll be able to view your account balance, transaction history, and manage your card settings. If you’re a new user, you’ll need to activate your internet banking account before you can log in.
