Credit Cards Deals

ipaymy 1.85% fee offer – buy miles from 1.14 cents in May

Score a 1.85% fee on up to two payments in May 2021 using ipaymy, allowing you to buy miles from 1.14 cents each.

Card payment provider ipaymy has another offer running this month, with a discounted 1.85% fee for up to 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 our readers a one-time 1.78% fee on their first payment, plus recurring payments starting at 1.79% fee for rent and 1.89% for other general bills.

May offer – 1.85% fee

If you make up to two payments (i.e. a single one-time payment or two separate one-time payments) through ipaymy anytime this month and apply promo code MAYMILES, settled using a Singapore-issued Visa or Mastercard, you’ll be eligible for a competitive 1.85% rate for these transactions.

Note that this does not apply to recurring payments.

Obviously the bigger the payment, the bigger the saving, so if you have several transactions to make this month – try to save the code for the most expensive two!

MAYMILES Visa Card White Mastercard Card White 2.25% 1.85%
Up to two payments in May 2021 with a Singapore-issued Visa or Mastercard.

There’s no upper transaction limit for this code, but the charge date must be on or before 31st May 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 MAYMILES 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 1.85% rate (applicable to any Visa or Mastercard payment):

Card Miles per S$1 Cost per mile
(1.85% fee)
$UOB Reserve 3.pngUOB Reserve 1.6 1.14¢
Citi Ultima Trans.pngCiti ULTIMA 1.6 1.14¢
Card MCUOB PRVI Miles MC/Visa 1.4 1.30¢
image_standard-chartered-visa-infinite@2x02.pngStandard Chartered Visa Infinite 1.4* 1.30¢*
Card2019 SmallCiti Prestige 1.3 1.40¢
CardOCBC Voyage Visa 1.3 1.40¢
Altitude Card.jpgDBS Altitude Visa 1.2 1.51¢
This image has an empty alt attribute; its file name is CardMC2019-small.pngCiti PremierMiles MC/Visa 1.2 1.51¢
Card 2 smallOCBC 90ºN 1.2 1.51¢
Card SmallKrisFlyer UOB 1.2 1.51¢

* 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.

Income tax rate 1.75%

Don’t use this 1.85% discounted rate promo code for an income tax payment using ipaymy this month, because there’s a better 1.75% offer for settling an IRAS tax bill (either in full or for one monthly GIRO instalment) between now and 31st July.

This reduces your cost per mile to as little as 1.07 cents each. See our full article regarding ipaymy’s promotional income tax rate for 2021 payments.

Before you make a decision on miles earning with your income tax payment this year though, be sure to check out our detailed and continually updated analysis of the options available across all the providers, since there are some great deals to be had this year depending on which cards you hold.

New to ipaymy? Use our reader code for a 1.78% fee first

If you’re new to ipaymy, or have set up an account but have yet to make your first payment using the platform, be sure to use our special reader offer code for a 1.78% fee on your first transaction.

This allows you to buy miles from 1.09 cents each with a 1.6 mpd card on any payment type.

You’ll be able to apply it just one single time, so our advice is therefore to use it for something big like a tax bill or a monthly rental payment to your landlord, to maximise the value.

MAINLY178 Visa Card White Mastercard Card White 2.25% 1.78%
Any first-time payment with a Singapore-issued Visa or Mastercard.

There is no upper cap on the payment amount when using the MAINLY178 promo code, but since it’s for one-time use you won’t be able to apply it to recurring payments.

Your credit card must be charged on or before 31st December 2021 for the discounted rate to take effect.

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 as well as a Visa card).

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).

One useful option here is to use ipaymy to settle your monthly income tax GIRO payments to IRAS at a competitive rate – see our recent article for full details on how to do it.

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.

Citi cardholder? PayAll has a better offer

Before you dive in with ipaymy’s May promo code, there’s a much better miles earning offer available if you hold one of the following Citi credit cards:

That’s because Citi has hiked the earn rate on all four cards to 2.5 mpd for PayAll transactions made between now and 31st August 2021, capped at S$120,000 total spend, which means buying miles at just 0.8 cents each even with the higher transaction fee of 2%.

See our article for full details of this excellent PayAll promotion.


With income tax season now in full swing, there are a wide range of promotions on offer at the moment from the card payment providers offering discounted fees.

This latest offer from ipaymy repeats the recent competitive 1.85% rate on either one or two payments of any type this month.

Before committing, do consider the other offers on the market. These include specific offers for income tax payments, first time ipaymy payments, and for Citi cardholders an excellent deal through PayAll.


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(Cover Photo: Shutterstock)


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