SME Credit Cards

Elevate Business Card: A Virtual Expense Card to Manage All Business Expenses in One Platform

Here’s what you need to know about the Elevate Card, Funding Societies’ latest product designed to solve SMEs’ problems and help them grow beyond Singapore.

As an SME in Singapore, it could be difficult trying to find the necessary resources to support business operations, especially when you’re on a tight budget, have to deal with various fees including overseas transactions, taxes and payrolls.

This is where Funding Societies, Southeast Asia’s largest SME digital financing platform, comes in. Currently operating within the region including Singapore, Malaysia, Indonesia, Vietnam and Thailand, Funding Societies launched their latest solution – Elevate, a Virtual Expense Card + Credit line, for Singaporean SMEs, to support their growth at no additional fees.

Other than allowing businesses to control and pay for business expenses easily, users can also enjoy a 55-day interest-free period from the virtual credit line.

Application Process

The Elevate virtual card is open to all types of Singapore registered businesses and entities. The requirements to get started are:

  • A minimum of 6 months of operating history
  • A minimum of 30% local shareholding.

Here’s a step-by-step guide to applying for Elevate:

  1. Apply using MyInfo for an account within 2 minutes
  2. Once processed and submitted, the approval status will be updated within 24 hours
  3. Activate the business card via the FS Business - Elevate card app
  4. Enjoy and start spending!

Using the FS Business Elevate card app allows businesses to view their past statements, issue and activate unlimited cards immediately, block/suspend cards, and change the password all within one place. In the near future, the app is also working toward offline payment via mobile wallets such as Samsung Pay, Google Pay, and Apple Pay.

Benefits of Elevate

No Fees

Elevate is partnered with Mastercard®, allowing for the usage of the card wherever Mastercard can be used. There are no fees associated with signing up with Elevate except for interest fees on overdue payments.

Entertainment

In the aspects of entertainment, Elevate gives businesses the advantage of:

  • Free 1GB Global Data Roaming with FlexiRoam
  • Mastercard SEA Golf, tee-off anytime with 50% discount on fees
  • Car Rental discounts up to 25% with selected providers

Digital

To protect against various liabilities, Elevate has:

  • E-Commerce Protection - Elevate will cover purchases up to USD500
  • Mobile phone protection against theft and damage
  • Corporate Liability Waiver - protecting your business from employee misuse

Food and Amenities

For benefits on business trips and basic amenities, Elevate offers:

  • 1 Free dine-in at participating restaurants
  • 1 Free night on your business stays with participating hotels globally

Promotions

Funding Societies’ Referral Program allows the Referrer and Referee to earn just by signing up for the Elevate Virtual card.

Referee’s Approved Credit Limit
Up to S$99K*****S$100K - S$299K¹$300K or more²
Referrer's EarnS$100S$1,000S$3,000
Referee's EarnS$100S$100S$100
¹For the Referrer and Referee to earn the full benefits, Referees will need to spend a minimum of SGD$100 within the first 90 days of activating the account.
²For the Referrer and Referee to earn the full benefits, Referees will need to spend a minimum of SGD$50,000 within the first 90 days of activating the account.<<
Terms and Conditions:
  • Valid until 31 December 2022 (completed applications within the period)
  • The referred customer should be operating a legal business that is compliant to the laws of Singapore
  • Agree to allow Funding Societies to market your products to them
Method:
  • Reward will be credited to the Referrer’s bank account via PayNow on the 15th of the following month once the conditions have been met and followed through

You can apply using a referral here.

  • 5% cashback for your first $4,000 spend
  • On top of the 5% cashback, new sign-ups get a welcome gift from Funding Societies
Terms and Conditions:
  • Valid until 30 September 2022
  • Valid for all eligible businesses with a registered director for an ACRA registered company
  • To new Elevate customers who signed up between 1st July 2022 to 30 September 2022
  • At least 21 years of age
  • 1 cashback offer per company
Method
  • Maximum of $200 cashback, it will be reimbursed via PayNow to the business UEN within 2 months after the campaign has ended

You can apply for an Elevate Virtual Expense Card here.

Elevate is aware that time is the essence of all businesses, so it’s #timetoelevate and Elevate your business journey!

Additional Resources

For further resources for other products by Funding Societies, below are a few additional resources that might help:

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