Reader offer: 1.99% fee on ANY payment type with ipaymy

EXPIRED This article relates to an offer or promotion which has now expired.

Good news for those of you yet to pay your IRAS bill this income tax season, or in fact any other payment coming up you were considering putting on your credit card such as rent or tuition fees. ipaymy has kindly offered a discounted rate for Mainly Miles readers, so you can pay as little as 1.99% transaction fee while earning miles when making payments like these.

That means with the right credit card you can ‘buy’ miles from just 1.22 cents each.

Who is eligible?

This offer is for both existing and new ipaymy users. If you don’t already have an account you can sign up for either a personal or business one with ipaymy here.

What can I pay?

With a Singapore-issued Visa or American Express card you can make any payment type, including rent and invoices such as tax, insurance and tuition fees. If you have a business account it also applies towards salary payments as well.

For your Singapore-issued Mastercard the promotion is restricted to rental payments.

How does it work?

Simply use one of the following promotional codes in the ‘Coupon Code’ box at the payment step to get a discounted rate for your transaction.

MAINLY199 Any payment type using a Singapore-issued Visa card.	2.25%	1.99%
MAINLYRENT Rental payments with a Singapore-issued Visa or Mastercard.	2.25%	1.99%
MAINLYAMEX Any payment type using a Singapore-issued American Express card.	3.3%	2.59%

This is a one-time promo code, so to be clear you’ll be able to use just one of the above codes a single time. Our advice is therefore to use it for something big like your income tax bill or a monthly rental payment to your landlord, to get the most value.

Top tip: You can usually overpay your rent if you wish, and your landlord agrees, which could be a nice way to maximise this offer as a one-time payment.

Other terms

This promotion is subject to a maximum one-time payment of S$50,000, and does not apply to recurring payments.

If like many (Eddie included) you’re still waiting for your IRAS Notice of Assessment this year then don’t worry as the promo code is valid for two months from now – until 31st July 2019.

Your credit card must be charged on or before this date for the discounted rate to take effect.

Cost per mile

Here are a few cost per mile examples for Singapore-issued credit cards under this promotional deal at the 1.99% rate (applicable to any Visa payment):

Card	Miles per S$1	Cost per mile (1.99% fee)
UOB Reserve	1.6	1.22¢
Citi ULTIMA	1.6	1.22¢
Standard Chartered Visa Infinite	1.4	1.39¢
UOB PRVI Miles Visa	1.4	1.39¢
HSBC Visa Infinite	1.25	1.56¢
Citi PremierMiles Visa	1.2	1.63¢
DBS Altitude Visa	1.2	1.63¢

Here are a couple of rental payment options using Mastercard (in addition to the above):

Card	Miles per S$1	Cost per mile (1.99% fee)
BOC Elite Miles MC	1.5	1.30¢
UOB PRVI Miles MC	1.4	1.39¢

And here are some all payment options using American Express:

Card	Miles per S$1	Cost per mile (2.59% fee)
UOB PRVI Miles Amex	1.4	1.80¢
Citi PremierMiles Amex	1.3	1.94¢

Citi PayAll

At the 1.99% fee this promotional rate now beats the Citi PayAll offer, which has reverted to a 2% transaction fee for all users (even for those customers who had a 1.5% rate for a while).

Also with ipaymy you are earning miles for the fee as well as the payment amount, whereas with Citi you do not accrue miles for the fee itself.

There’s still a better rent promotion (or two!)

Don’t forget that tomorrow is the last day to enrol for ipaymy’s 1.79% transaction fee offer on rental payments.

This one matches our promotional code initially for the first two months, but then unlocks a 1.79% transaction fee for rental payments from July until the end of 2019. Our code will not do that, so you should be aiming to use this one while you still can (GIVEME179). Full details can be found in our article here.

Remember we also have an ongoing reader offer with RentHero (until February 2020) which allows you to pay your rent with selected Singapore-issued credit cards for a discounted rate of 1.90%. See the details of that offer here.

RentHero works out slightly cheaper than our ipaymy promotional code, but is obviously only any good if you have one of the listed cards.

Questions?

If you have any questions about the promotion please let us know in the comments section below. We’ll pass any questions we can’t answer to the ipaymy team.

Sign Up HERE

(Cover Image: ipaymy)