Ultimate Comparison: Which Bank Has The Best Promotions For Lazada, Shopee, Qoo10?
Online Shopping Revenues Expected To Exceed $7 Billion In 2025
When it comes to online shopping, Singaporeans are now the second biggest cross-border online shoppers in Asia-Pacific.
We are currently at 3.12 million online shoppers in Singapore. And this number is projected to increase to 4.11 million by the year 2021, with each online shopper spending an average of $1,662.
Unsurprisingly, 74% of Singaporean shoppers are using credit cards for their online shopping needs. Naturally, this increases the importance of promo codes and credit card promotions when it comes to online shopping.
Here at Seedly, we’re huge advocates of sensible spending. And if you already have a proper budgeting system for shopping, there’s nothing better than promo codes and credit card promotions that will help you save even more!
So for the benefit of our readers – namely YOU – we decided to suss out which banks gives out the best online shopping perks at Singapore’s favourite online market places: Lazada, Shopee, and Qoo10.
TL;DR – Which Bank Can Help You Save The Most At Online Market Places?
For this comparison, here are some assumptions we made about our online shopper:
- Shops on Lazada and Shopee
- Is an existing user on both platforms
- Spends $100 on each platform
So, which bank has the best online shopping promotions for an existing shopper on Lazada and Shopee?
| Bank | Lazada Promos | Shopee Promos | Savings on Lazada (for $100 spend) | Savings on Shopee (for $100 spend) | Total Savings |
|---|---|---|---|---|---|
| DBS/POSB | DBSTHURS ($10 off min spend $80) | DBSTEN4 (10% off total bill, capped at $4) | $10 | $4 | $14 |
| UOB | $10 off $80 | UOBTEN4 (10% off, capped at $4) | $10 | $4 | $14 |
| HSBC | LAZGOHSBC 15% off (capped at $10) | HSBC4OFF (10% off, capped at $4) | $10 | $4 | $14 |
| Citibank | CITILAZMALL ($8 off min spend $60) | CITITEN4 (10% off, capped at $4) | $8 | $4 | $12 |
| Standard Chartered | SC20APP $20 off (min. $250 spend) | $5 off (min. $40 spend) | $0 | $5 | $5 |
| Maybank | - | MBTEN4 (10% off, capped at $4) | $0 | $4 | $4 |
| OCBC | - | OCBC3OFF $3 off (min. $30 spent) | $0 | $3 | $3 |
We also did a comparison for an online shopper who is NEW to Lazada and Shopee:
- Shops on Lazada and Shopee
- Is a new user on both platforms
- Also spends $100 on each platform
| Bank | Lazada Promos | Shopee Promos | Savings on Lazada (for $100 spend) | Savings on Shopee (for $100 spend) | Total Savings |
|---|---|---|---|---|---|
| DBS/POSB | 20% off (capped at $10) | DBSNEW15 ($7 off, min. spend $15) | $10 | $7 | $17 |
| HSBC | LAZNEWHSBC (20% off, capped at $10) | HSBC7NEW ($7 off, min. $15 spend) | $10 | $7 | $17 |
| Citibank | 20% off (capped at $10) | CITINEW7 ($7 off, min. $15 spend) | $10 | $7 | $17 |
| UOB | 18% off (capped at $8) | UOBNEW7 ($7 off, min. $15 spend) | $8 | $7 | $15 |
| Maybank | 18% off (capped at $8) | MBNEW7 $7 off (min. $15 spend) | $8 | $7 | $15 |
| Standard Chartered | 20% off (capped at $10) | - | $10 | $0 | $10 |
| OCBC | - | OCBC7NEW $7 off (min. $15 spend) | $0 | $7 | $7 |
Lazada Promo Codes and Credit Card Promotions in Singapore
Here’s a list of Lazada promo codes, discounts, and memberships which Singaporean can enjoy with the various cards they hold.
Do take note of the terms and conditions such as amount capped, applicable promo codes, and the expiry date!
| Bank of your credit card or membership | New or Existing user? | Discount or Promo code | Expiry Date |
|---|---|---|---|
| DBS/POSB | New | 20% off (capped at $10) | 30 Jun 2019 |
| Citibank | New | 20% off (capped at $10) | 30 Jun 2019 |
| Standard Chartered | New | 20% off (capped at $10) | 30 Jun 2019 |
| American Express | New | 20% off (capped at $10) | 30 Jun 2019 |
| HSBC | New | LAZNEWHSBC 20% off (capped at $10) | 31 Mar 2019 |
| UOB | New | 18% off (capped at $8) | 30 Jun 2019 |
| Maybank | New | 18% off (capped at $8) | 30 Jun 2019 |
| HSBC | Existing | LAZGOHSBC 15% off (capped at $10) | 31 Mar 2019 |
| Citibank | Existing | CITILAZMALL $8 off (min spend $60) | 30 Jun 2019 |
| DBS/POSB | Existing | DBSTHURS $10 off $80 | 30 Jun 2019 |
| Standard Chartered | Existing | SC20APP $20 off (min. $250 spend) | 30 Jun 2019 |
| UOB | Existing | $10 off (min. $80 spend) | 31 Oct 2019 |
| Citibank (In partnership with LiveUp) | New and Existing | 8% rebate (capped at $30 per month) | – |
| LiveUp | New and Existing | 5% rebate (capped at $30 per month) | – |
Shopee Promo Codes and Credit Card Promotions in Singapore
Here’s a list of Shopee promo codes, discounts, and memberships which Singaporean can enjoy with the various cards they hold.
Do take note of the terms and conditions such as amount capped, applicable promo codes, and the expiry date!
| Bank of your credit card or membership | New or Existing user? | Discount or Promo code | Expiry Date |
|---|---|---|---|
| DBS/POSB | New | DBSNEW15 $7 off (min. spend $15) | 31 Dec 2019 |
| UOB | New | UOBNEW7 $7 off (min. $15 spend) | 30 Sep 2019 |
| Maybank | New | MBNEW7 $7 off (min. $15 spend) | 31 Dec 2019 |
| OCBC | New | OCBC7NEW $7 off (min. $15 spend) | 31 Dec 2019 |
| Citibank | New | CITINEW7 $7 off (min. $15 spend) | 31 Dec 2019 |
| Passion Card | New | PASSION10EX or PASSION7NEW 10% OFF | 30 Jun 2019 |
| HSBC | New | HSBC7NEW $7 off (min. $15 spend) | 31 Dec 2019 |
| Citibank | Existing | CITITEN4 10% off (capped at $4) | 31 Dec 2019 |
| OCBC | Existing | OCBC3OFF $3 off (min. $30 spent) | 31 Dec 2019 |
| UOB | Existing | $5 off every Weds (min. $50 spend) | 25 Dec 2019 |
| UOB | Existing | UOBTEN4 10% off (capped at $4) | 30 Sep 2019 |
| DBS/POSB | Existing | DBSTEN4 10% off total bill (capped at $4) | 31 Dec 2019 |
| HSBC | Existing | HSBC4OFF 10% off (capped at $4) | 31 Dec 2019 |
| Maybank | Existing | MBTEN4 10% off (capped at $4) | 31 Dec 2019 |
| Standard Chartered | Existing | $5 off (min. $40 spend) | 31 Dec 2019 |
Qoo10 Promo Codes and Credit Card Promotions in Singapore
Here’s a list of Qoo10 promo codes, discounts, and memberships which Singaporean can enjoy with the various cards they hold.
Do take note of the terms and conditions such as amount capped, applicable promo codes, and the expiry date!
| Bank of your credit card or membership | New or Existing user? | Discount or Promo code | Expiry Date |
|---|---|---|---|
| UOB | Existing | First 6 digits of UOB Cardnumber to get $10 coupon every Tues | 31 Dec 2019 |
| Standard Chartered | Existing | $10 Coupon Pack every Thurs | 31 Oct 2019 |
How Much Should You Be Spending Online?
To determine if you are spending too much on your online shopping “addiction”, here’s a quick guideline for you.
Based on our basic budgeting guideline, the only place where expenses for online shopping can come from is the flexible or wealth portion of your salary allocation.
Why? Because the 50% allocation to expenses is to take care of any “basic needs” you have, whereas online shopping is a “want”. The 20% savings component should be an untouchable resource because it’s purely for rainy days.
So… The only place where your online shopping budget can come out from is the 30% allocated to wealth buidling. Which also means that it’s really up to YOU to weigh your priorities for the month.
Because for every one dollar you spend on online shopping, that’s one dollar you forgo which can be put into investments.
Simply put, if you ever find your online spending to be more than 30% of your take-home salary, maybe it’s time to relook your shopping habits.
