InstaReM's AMAZE MasterCard

[assiak71]

Has it started? How come talk like it has started

 

[sacredrays]

hi guys, for those already using this card:

When this card mentioned "link 5 credit/ debit cards to this InstaReM card" so for example, I link one citibank credit card and one OCBC credit card to this InstaReM card.

When I make my purchase, there will be a drop down list on the app in my phone for me to select to pay with which card?

huh.. i dun think so. probably will straight charge to your pre-selected card.

if it's like how you described, your transaction will take very very long time to complete..

 

[Seedbox]

Has it started? How come talk like it has started

Based on what I have read, launching in December, however, sign ups are open.

 

[assiak71]

Based on what I have read, launching in December, however, sign ups are open.

I see

Their address format is ...... will the postman be confused?

#12-34 is floor 12 unit 34 right?

 

[Qwinkx]

Yes yes..sorry for the typo..

You refer to 0.5% cashback?

 

[dawo5010]

What I really wonder is whether I can add my GrabPay card to an Amaze card and clock both GrabPay points and the 0.5% cashback (and whatever cashback your bank card gives you for Grab)...

I can totally imagine the advertising for this going something like those VPN adverts on YouTube. After all, the card is effectively a proxy to your credit/debit card.

 

[fr33d0m]

GrabPay MasterCard is not a local issue card. It is not a debit card , either.

 

[Trazora]

Wonder if Amaze card can be used online, or solely contactless

 

[swathe]

I am skeptical. All the review on their own websites are Indian names.

Shall wait and see. Not going ahead with storing my personal data with them

 

[dawo5010]

GrabPay MasterCard is not a local issue card. It is not a debit card , either.

Fair on the debit card part, but my GrabPay MC shows up as a Singapore-issued Platinum Prepaid Travel card. One can hope.

 

[gravityz3r0]

What I really wonder is whether I can add my GrabPay card to an Amaze card and clock both GrabPay points and the 0.5% cashback (and whatever cashback your bank card gives you for Grab)...

I can totally imagine the advertising for this going something like those VPN adverts on YouTube. After all, the card is effectively a proxy to your credit/debit card.

dream on lah, grab will be the first to kill the grab point rewards before you can even link it

 

[vegavega25]

This is a different class of products than Revolut or Transferwise. To begin with, the Amaze card is simply a wallet where different existing cards are stored. US folks may remember the infamous Coin attempt at doing this 6 years (!!) ago pre-EMV etc.

What I haven't understood is this: Instarem claims that when I use Amaze, I will not be charged foreign transaction frees and forex markups. Is that true only for the money I have "loaded" inside Instarem in advance? Or do they mean that Amaze will charge a no-markup S$ amount to my designated Singapore-issued card? That would mean that any existing foreign transaction fee on my Singpore-issue card is redundant since it will always get charged a S$ amount. Maybe DCC only? Any ideas?

Instarem itself appears to have a fee of some sort to "load" one's own account to make any further currency conversions and transfers. That puts it at a major disadvantage compared to Transferwise (free via Pay Now) and Revolut (credit card or other routes for now), but also makes me wonder about the sustainability of these fee-free models.

 

[JuniorLion]

Feel free to use this referral code when you set up a new Instarem account: REMOVED BY MODERATOR. PLEASE DO NOT QUOTE FULL QUOTES, YOU ARE HELPING THE SPAMMER

Reported. .

 

[silverbomb]

What I haven't understood is this: Instarem claims that when I use Amaze, I will not be charged foreign transaction frees and forex markups. Is that true only for the money I have "loaded" inside Instarem in advance? Or do they mean that Amaze will charge a no-markup S$ amount to my designated Singapore-issued card? That would mean that any existing foreign transaction fee on my Singpore-issue card is redundant since it will always get charged a S$ amount. Maybe DCC only? Any ideas?

Amaze card will charge Visa Market Rate

if u buy smth overseas for 100 Euros, Amaze card will convert 100 Euros to Sgd based on Visa Market rate and passes the SGD charge onto the card that is linked to Amaze.

 

[fr33d0m]

Amaze card will charge Visa Market Rate

if u buy smth overseas for 100 Euros, Amaze card will convert 100 Euros to Sgd based on Visa Market rate and passes the SGD charge onto the card that is linked to Amaze.

in a way, Amaze is your DCC provider with Visa exchange rate instead of bad exchange rate.

Wonder how it actually works. Who will be shown as the actual merchant? Amaze or the original merchant?

 

[silverbomb]

in a way, Amaze is your DCC provider with Visa exchange rate instead of bad exchange rate.

Wonder how it actually works. Who will be shown as the actual merchant? Amaze or the original merchant?

if you're buying smth from say, Ikea, it will show smth along the line of "Amaze - Ikea" in the credit card statement.

 

[Trazora]

if you're buying smth from say, Ikea, it will show smth along the line of "Amaze - Ikea" in the credit card statement.

So the MCC will no longer be under that of ikea?

 

[fr33d0m]

if you're buying smth from say, Ikea, it will show smth along the line of "Amaze - Ikea" in the credit card statement.

So you already have the card?

 

[silverbomb]

So the MCC will no longer be under that of ikea?

Amaze's MCC

 

[fr33d0m]

Amaze's MCC

which is highly likely under some financial institution MCC, excluding for rewards almost from any cards.