DBS Points double in value for travellers amid rising travel costs

• Using DBS Points to offset flight fares on the DBS Travel & Leisure Marketplace can now be more cost effective than miles redemptions
• Travellers booking flights and hotel stays through the travel marketplace enjoy complimentary travel insurance with Covid-19 coverage

SINGAPORE, July 14, 2022 /PRNewswire/ -- With pent-up travel demand driving up costs, DBS has doubled the value of DBS Points that travellers can use to offset fares and bookings with 250 airlines and one million hotels on the DBS Travel & Leisure Marketplace. This means that 1 DBS Point has an estimated valuation of SGD 2 cents on the travel marketplace. Travellers also enjoy complimentary travel insurance for all parties listed within their itinerary once they book their flights or hotels through the marketplace.  

Said Diane Chang, Executive Director, Consumer Banking Group at DBS Bank, "In tandem with surging revenge travel, rising fuel prices and overbooked flights, travel costs have risen by about 30% since 2019. Doubling the value of DBS Points for travellers benefits a large swath of our customers. From January to May 2022, some 340,000 DBS customers have travelled abroad and made transactions in overseas stores."

At the DBS Travel & Leisure Marketplace, travellers can access a slew of travel benefits on a one-stop platform that allows customers to seamlessly use DBS Points to offset travel costs at superior value, get complimentary travel insurance, instant confirmation for flight and hotel bookings – all within a few clicks.

Why travellers should use DBS Points to offset flight fares

Benefits of using DBS Points to offset flight costs on DBS Travel & Leisure Marketplace instead of using them for miles redemption include:

1. Instant use of points for flight bookings: Travellers can instantly use DBS Points to offset flight fares within the booking instead of going through the process of converting them to a frequent flyer programme. This also allows travellers to quickly jump on sudden fare drops or discounts without waiting
2. No fees: Point-to-miles conversion programmes often come with fees
3. Usage across all airlines: DBS Points can be used to offset fares across some 250 airlines. This contrasts with most frequent flyer programmes, where travellers are limited to redeeming miles on airlines within their programme
4. Instant seat booking confirmation: Travellers using miles to redeem flights are often waitlisted, while using DBS Points to offset fares on the DBS Travel & Leisure Marketplace comes with instant booking confirmation. This means that they are saved the stress of having to book other flights on short notice if waitlisted flight requests are unsuccessful.
5. Value savings on flight fares: See below for more details

Value of upsized DBS Points

This means that in some instances, using DBS Points to offset flight fares on the marketplace instead of redeeming flights with miles can be more cost-effective for travellers (see example below).

Example – Singapore Airlines round-trip fare (all-in) to Bangkok, 14 to 18 December trip dates

* When using DBS Points to offset flight fares on DBS Travel & Leisure Marketplace

** Source: Singapore Airlines Awards Chart, accessed 14 July 2022 

Complimentary travel insurance with Covid-19 coverage^[1]

Travellers who book a flight originating from Singapore or with overseas hotels through the DBS Travel & Leisure Marketplace enjoy complimentary travel insurance with Covid-19 protection of up to SGD 200,000, for all parties listed within their itinerary. In addition, those who prefer greater coverage can upgrade their insurance to TravellerShield Plus at a 60% discount. To find out more, visit https://www.dbs.com.sg/personal/mp-travel-tmpinsurance.page.

Exclusive deals on DBS Travel & Leisure Marketplace

With more than one million hotels and 250 airlines, DBS Travel & Leisure Marketplace is a one-stop shop for creating carefree vacations and unique experiences. Travellers enjoy exclusive deals such as 10% off Go City Passes, as well as special prices for accommodations on Agoda and Expedia. Since its launch in July 2019, the DBS Travel & Leisure Marketplace has seen close to half a million visitors. For more information, visit https://www.dbs.com.sg/personal/marketplace/travel.

APPENDIX

Other DBS travel solutions

1. DBS travel cards: DBS Altitude and DBS Vantage cardholders can accelerate the accumulation of their points when they spend on travel and use it to offset their next flight or hotel bookings at twice the value on the DBS Travel & Leisure Marketplace
2. Enjoy flexible payments: Customers can choose to pay with DBS debit or credit cards, DBS Points, or even choose to split their purchase amounts into 0% interest monthly instalments using DBS My Preferred Payment Plan (MP3) directly on DBS Travel & Leisure Marketplace, without a separate application
3. Transact with 11 foreign currencies: Customers can also use their DBS Visa Debit Card, link it to their DBS My Account and convert up to 11 foreign currencies at competitive rates. They can then use the DBS Visa Debit Card to spend overseas in the country's local currency, skipping foreign exchange fees and conversion charges  
4. Travel mode on DBS digibank app: Customers can enable the AI-powered Travel mode on DBS' digibank app when they travel. This allows them to effortlessly manage their foreign currencies, cards, travel spending, and insurance, as well as receive travel tips in real-time. Travel mode has helped close to 76,000 travellers enjoy stress-free travels in the past six months. Travellers also have been using this feature for overseas card activations and payment controls, as well as to set FX alerts when exchange rates hit their desired levels

About DBS 
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world. 

Recognised for its global leadership, DBS has been named "World's Best Bank" by Euromoney, "Global Bank of the Year" by The Banker and "Best Bank in the World" by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank" by Euromoney and the world's "Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 13 consecutive years from 2009 to 2021. 

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region's most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.