Credit Cards Deals

ipaymy 1.88% fee on two payments this month – buy miles from 1.15 cents

Pay a 1.88% fee on up to two payments using ipaymy this month, allowing you to buy miles from just 1.15 cents each.
EXPIRED This article relates to an offer or promotion which has now expired.

Card payment provider ipaymy has another offer running this month, with a discounted 1.88% fee for two payments, allowing you to buy miles at a competitive rate with a range of credit cards for things like bill payments, general invoices, taxes and property rental.

Additionally, ipaymy continues to offer recurring payments starting at 1.79% fee for rent and 1.89% for other general bills, plus there’s a targeted 1.75% fee offer for some users still running for the next few days.

March offer – 1.88% fee

If you make up to two payments through ipaymy anytime this month and apply promo code SPRING188, with payment using a Singapore-issued Visa or Mastercard, you’ll be eligible for a competitive 1.88% rate for both transactions.

Note that this does not apply to recurring payments.

Obviously the bigger the payment, the bigger the saving, so if you’re an existing user with several transactions to make this month – try to save the code for the most expensive two!

There’s no upper transaction limit for this code, but the charge date must be on or before 31st March 2021 to qualify.

Simply set up your payment as normal using ipaymy, then at the final (fourth) step (the ‘Complete Your Payment’ stage), enter the promo code SPRING188 in the ‘Coupon Code’ section.

Once the code is entered the discount will be applied, as shown above.

Here are some cost per mile examples for Singapore-issued credit cards under this promotional deal at the 1.88% rate (applicable to any Visa or Mastercard payment):

Card Miles per S$1 Cost per mile
(1.88% fee)
$UOB Reserve 3.pngUOB Reserve 1.6 1.15¢
Citi Ultima Trans.pngCiti ULTIMA 1.6 1.15¢
Card MCUOB PRVI Miles MC/Visa 1.4 1.32¢
image_standard-chartered-visa-infinite@2x02.pngStandard Chartered Visa Infinite 1.4* 1.32¢*
Card2019 SmallCiti Prestige 1.3 1.42¢
CardOCBC Voyage Visa 1.3 1.42¢
Altitude Card.jpgDBS Altitude Visa 1.2 1.54¢
This image has an empty alt attribute; its file name is CardMC2019-small.pngCiti PremierMiles 1.2 1.54¢
Card 2 smallOCBC 90ºN 1.2 1.54¢
Card SmallKrisFlyer UOB 1.2 1.54¢

* 1.4 mpd subject to a minimum spend of S$2,000 in the same statement cycle, otherwise 1 mpd. ipaymy payments do count towards the minimum.

All of these are competitive rates to buy, we value KrisFlyer miles at 1.9 cents each (our upper limit to buy), and actually achieve around 2.4 cents per mile when we redeem, based on well over 1 million miles burned over recent years, even assuming current redemption rates.

Check if you’re targeted for a 1.75% fee

If you haven’t used ipaymy in a while, you may recently have been targeted for a one-time promotional code to unlock a 1.75% fee for any payment with a Singapore-issued Visa card.

The charge date for this promotion must be on or before 20th March 2021, so check your email to see whether you were selected.

There’s no harm in trying the IMBACKSG code before using the SPRING188 one, which you could then save for a later transaction if the first one works!

A 1.75% fee allows you to buy miles from 1.07 cents each with a 1.6 mpd credit card like the Citi Ultima, up to 1.43 cents each even with a 1.2 mpd card like the DBS Altitude Visa.

Recurring payments from 1.79%

You may recall last year ipaymy launched 1.79% fee promotion for recurring rental payments of six months or more, with a Singapore-issued Visa or Mastercard.

That offer is still available, though it’s now restricted only to locally-issued Visa cards. You can buy miles from just 1.1 cents each by paying your monthly rent this way.

Even if your tenancy agreement is for less than six months, ipaymy will still honour the promotional rate provided you contact their support team via with proof of your tenancy agreement, so you can still benefit.

You can also save by setting up any scheduled recurring payment of 3 months or more at a 1.89% fee (which would also apply to a recurring rental payment using a Mastercard).

This allows you to buy miles from 1.16 cents each (with a 1.6 mpd card), or at 1.55 cents per mile (with a 1.2 mpd card).

No promo code is required for these recurring payment offers – you’ll see the discounted fee of 1.79% or 1.89% will kick in automatically on setup.


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(Cover Photo: Shutterstock)


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