CITIBANK has rolled out a debit card that can also be used like an EZ-Link card to pay for bus and train rides, a first in Singapore.

The three-in-one card can be used like a regular debit card to get cash from automated teller machines, pay for purchases and earn savings rates.

The Citibank-SMRT Visa Platinum Debit Card also attracts Visa Platinum card privileges.

It comes with the Citibank Tap & Save Account, a cheque and savings account with interest rates that increase as the monthly balance grows.

Cardholders will also earn cash rebates from daily transport and other spending: 2 per cent for the EZ-Link automatic top-up and 1 per cent for other Visa point-of-sale transactions. The cash rebates will be automatically deposited.

The EZ-link automatic top-up seamlessly tops up the card to a stored value of $30 by drawing on account funds whenever the balance goes to zero.

As the debit card has no minimum income requirement, all Singaporeans are eligible, said Citibank.

Mr Anil Wadhwani, the retail banking head for Citibank Singapore, said: 'With this new initiative, we aim to reach out to even more Singaporeans and bring convenient, accessible and affordable banking to new levels.'