InstaReM's AMAZE MasterCard

[fr33d0m]

MAS is so useless, when it comes to these regulations. Complained to them on some other regulated fintech, they only send email to them, and didnt resolved the issue at all. Didnt even check back if they resolved issue.

MAS may work behind with those companies. Whether MAS reprimand the company, it will not say in the email.

write to straits times, cc MAS.

May I know which fintech company and what kind of issues? Did you actually lose money because of it? If it is only rewards, MAS probably will not care. e.g. if DBS did not award you points, MAS does not really care. If DBS did not refund your money, MAS should care.

If it is RazerPay, you already see it closed shop liao.

 

[fone]

May I know which fintech company and what kind of issues? Did you actually lose money because of it? If it is only rewards, MAS probably will not care. e.g. if DBS did not award you points, MAS does not really care. If DBS did not refund your money, MAS should care.

Revolut. There was a time I used so much, they claimed their payment processor refused to process any payment. Which also means my amount above $5k gets automatically sent to my external account and got rejected, meaning I still have more than $5k at the end of the day. Was able to transfer to other Revolut account to transfer out. Neither MAS nor Revolut helped. MAS simply asked Revolut to resolve, without even trying to get to me to understand situation. Revolut simply blame their payment processor.

 

[fr33d0m]

Revolut. There was a time I used so much, they claimed their payment processor refused to process any payment. Which also means my amount above $5k gets automatically sent to my external account and got rejected, meaning I still have more than $5k at the end of the day. Was able to transfer to other Revolut account to transfer out. Neither MAS nor Revolut helped. MAS simply asked Revolut to resolve, without even trying to get to me to understand situation. Revolut simply blame their payment processor.

I guess you did not lose money as result.

 

[fone]

I guess you did not lose money as result.

Problem is always with "their payment processor". Very convenient for Revolut CSO to just blame someone else.
Was trying to get MAS to see it as Revolut as a whole, but seems they do not act.
I've always able to get my money out when something happens.... with Revolut.

Have not had any issues with Instarem yet, but actually just found a use cause for it on some foreign currency transaction. Still waiting for 1st transaction pts to post and 2nd new card to arrive before using more.

 

[wongminmin]

received the card about 3 weeks time.

 

[fr33d0m]

Problem is always with "their payment processor". Very convenient for Revolut CSO to just blame someone else.
Was trying to get MAS to see it as Revolut as a whole, but seems they do not act.
I've always able to get my money out when something happens.... with Revolut.

Have not had any issues with Instarem yet, but actually just found a use cause for it on some foreign currency transaction. Still waiting for 1st transaction pts to post and 2nd new card to arrive before using more.

MAS, as a regulator, hardly acts on single incident. Even in the DBS double-charge debacle, I don't think MAS will respond to every complaint. But it matters when MAS knows it, otherwise, MAS is just blind of what's going around.

I am sure that the recent complaints about missing OTP to MAS helped to uncover the frauds.

 

[loupgarou2]

so i linked grabpay to amaze card -> citbank casback+ mastercard. is there any point to do it? lets say I buy a iphone using grabpay mastercard.

 

[Trazora]

so i linked grabpay to amaze card -> citbank casback+ mastercard. is there any point to do it? lets say I buy a iphone using grabpay mastercard.

no, card linked in Grabpay can only be used to pay Grab services like grab ride/food. Grabpay mastercard uses funds from grab wallet and topup to Grab wallet is excluded from rebate for most cards except uob absolute and amex true cashback.

 

[loupgarou2]

really meh. the ad in the app says "use your grabpay card at any store that accepts mastercard"

anyway. even though there is no fee for mastercard. you cannot xfer the top up amount back to a bank account.

seems troublesome to use. nevermind i better not use it. Iie: if I set my auto top up to $20, yet I charge an iphone to the card, what happens. declined cos grabpay wallet only has $20?)

 

[Trazora]

really meh. the ad in the app says "use your grabpay card at any store that accepts mastercard"

anyway. even though there is no fee for mastercard. you cannot xfer the top up amount back to a bank account.

seems troublesome to use. nevermind i better not use it. Iie: if I set my auto top up to $20, yet I charge an iphone to the card, what happens. declined cos grabpay wallet only has $20?)

can use grabpay card at any store that accept mastercard up to the amount you have in your Grab wallet. Top up using CC cannot transfer out, topup using Debit card can. Auto topup just topup the wallet when wallet fall below a certain value, if wallet not enough money, transaction will just be declined.

 

[ChaosDingo]

Booked a grab ride using the card ytd and it was fine.

Tried today and rejected. Received an email from Instarem saying my transaction with Grab was declined due to their security & risk policy.

Anyone else?

 

[slowpoke]

Same, rejected at NTUC last night. And rejected today at redmart

 

[hclee01]

Used this card to register for online recurring teleco payment. During verification, a $1 was charged to account. Teleco said this is for verification only. However, card statement already billed for $1. Checked with Amaze and was told to wait for 14 day to check if the amount is reversed back to the card account. A lot of monitoring for using this card.

 

[spikeling]

Used this card to register for online recurring teleco payment. During verification, a $1 was charged to account. Teleco said this is for verification only. However, card statement already billed for $1. Checked with Amaze and was told to wait for 14 day to check if the amount is reversed back to the card account. A lot of monitoring for using this card.

This card is like that. Whatever authorisation they will charge and posted it. But after about 10 days it will be reversed. That is based on my experience.

 

[fr33d0m]

Used this card to register for online recurring teleco payment. During verification, a $1 was charged to account. Teleco said this is for verification only. However, card statement already billed for $1. Checked with Amaze and was told to wait for 14 day to check if the amount is reversed back to the card account. A lot of monitoring for using this card.

common for all prepaid cards, including Grabpay MasterCard.

charge first and refund later.

 

[thunderskain]

Anyone knows what is the MCC for this card? Reason is that I am using the frank card and Cashback is compute based on whether they are contactless payment or online purchases. So wondering if this will fall under online purchases or not.

 

[Trazora]

Anyone knows what is the MCC for this card? Reason is that I am using the frank card and Cashback is compute based on whether they are contactless payment or online purchases. So wondering if this will fall under online purchases or not.

Amaze card follow mcc of merchant. Frank is Visa cannot link to Amaze. Online or not is not based on MCC, it is based on a separator indicator.

 

[wira]

so i linked grabpay to amaze card -> citbank casback+ mastercard. is there any point to do it? lets say I buy a iphone using grabpay mastercard.

i don think you can link Grab pay card to Amaze card right.

 

[Trazora]

i don think you can link Grab pay card to Amaze card right.

Think he meant he linked Amaze to Grab. Amaze linked to Citi cashback plus.

 

[wira]

Think he meant he linked Amaze to Grab. Amaze linked to Citi cashback plus.

ah i see.
i think no point right as citi cashback will exclude grab top ups from any rewards