United Overseas Bank (UOB) has launched a digital utility marketplace to make it easier for customers to save money on monthly bills.
The UOB Utility Marketplace is Singapore’s first online utility marketplace provided by a bank, UOB said in a press release on Monday, May 6.
Customers can search and to sign up for the best deals for electricity, gas, water, broadband and TV services from among 10 utility providers on a single website. They can expect to save up to 35 percent on their monthly bills by using the marketplace.
Partners on the UOB Utility Marketplace include the SP Group, electricity retailers Diamond Electric, Geneco, iSwitch, Keppel Electric, Pacific Light, Sembcorp, Senoko Energy and SUNSEAP, as well as telecommunications company Singtel, for broadband and TV services.
Ms Jacquelyn Tan, Head of Personal Financial Services Singapore, UOB, said the launch of the online marketplace is part of OUB's commitment to create solutions to help consumers manage their household finances more effectively. “With utilities bills making up an average of about 10 per cent of monthly household expenses, we want to help people stretch their household budget,” Ms Tan said. On top of savings, customers can earn reward points, cash rebates or miles when they pay their utilities bills using UOB credit cards.
The Bank has also partnered SP Group to make it possible for consumers to pay their utility bills via the SP Utilities Mobile App. From May 16 this year, UOB ONE Cardmembers will receive a cash rebate of up to six percent when they use their UOB One Card to pay SP Group utility bills.