United Overseas Bank Limited (UOB) has teamed up with Singapore Airlines’ (SIA) frequent flyer program to launch KrisFlyer UOB Account.
Targeting those who prefer to use a debit card or millennials who may not yet be eligible for a credit card the account allows users to earn KrisFlyer miles whenever they save or spend. The miles can also be used for award flights and upgrades on SIA and SilkAir, or as travel vouchers on Scoot or Tigerair.
The miles earned will depend on the customers’ account balance. Those who have an account balance of S$350,000 (US$249,377) and above, for instance, will earn 5.4 KrisFlyer miles for every dollar they spend using their KrisFlyer UOB account.
“We have seen spending on UOB debit cards grow 40 percent over the past two years. Travel spend on debit cards also increased 15 percent in the corresponding period as our customers make more trips abroad,” said UOB head of personal financial services Singapore, Jacquelyn Tan, in a press release.
The bank is targeting to open at least 200,000 KrisFlyer UOB accounts in the next five years.
Meanwhile, SIA Marketing Planning senior VP Tan Kai Ping said, “The KrisFlyer UOB card leverages the wide reach of the KrisFlyer frequent flyer programme, giving card members access to all the airlines within the Singapore Airlines Group. This means seamless access to our four airlines – from full-service carriers Singapore Airlines and SilkAir to budget carriers Scoot and Tigerair – when they spend and save through this account.”