United Overseas Bank Limited (UOB) and KrisFlyer1 today launched the KrisFlyer UOB Account, the first banking solution in Singapore to earn KrisFlyer miles when a customer saves or spends.
The KrisFlyer UOB account provides an innovative way for customers who prefer to spend on a debit card or millennials in the early stages of their careers who may not be eligible for a credit card to accumulate KrisFlyer miles.
Customers can use the KrisFlyer miles they earn for award flights and upgrades on Singapore Airlines and SilkAir, or for travel vouchers on Scoot and Tigerair. They will also be able to enjoy complimentary privileges when they travel with the latter two airlines.
Ms Jacquelyn Tan, UOB Head of Personal Financial Services Singapore said the KrisFlyer UOB account rewards customers with KrisFlyer miles for every dollar they spend or save.
“We have seen spend on UOB debit cards grow 40 per cent over the past two years. Travel spend on debit cards also increased 15 per cent in the corresponding period as our customers make more trips abroad.
From our credit card base, air miles are one of our most frequent reward redemption categories and KrisFlyer miles in particular are very popular, accounting for more than half of all UNI$ rewards redemptions made last year. By working in partnership with KrisFlyer, we have brought together two home-grown brands to create an innovative banking solution that earns miles when you save and spend to meet the needs of frequent flyers and millennials,” Ms Tan said.
In 2016, travel accounted for 22 per cent of all spend made on UOB credit and debit cards. Of this, 37 per cent was spent on flights, with the Singapore Airlines Group of carriers the top choice at 60 per cent2.
Singapore Airlines Senior Vice President Marketing Planning, Mr 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. It is also part of our commitment to constantly enhance the benefits of our KrisFlyer programme, providing members more ways to earn miles for their travels.”