InstaReM's AMAZE MasterCard

[chopra]

cap $100 for quarter. Maybe excluded under the new list of exclusions?

sian dunno what leh. need to call instarem hotline if there’s one


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[dllmhkc]

Does amaze still work with dbs wwmc?

 

[silverbomb]

sian dunno what leh. need to call instarem hotline if there’s one


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refer and go figure.

https://www.instarem.com/blog/terms-and-conditions/mcc-exclusions/

 

[chopra]

refer and go figure.
MCC Exclusions | Instarem Insights

need to call dbs n citi to ask.. abit scare. does mcc for dbs and citi differ ?i only amaze into 3 merchants

Here’s the list of merchants excluded from amaze cashback.

MCC
Description

4111 Railroads, Transportation Services
4784 Tolls and Bridge Fees
4900 Utilities: Electric, Gas, Water, and Sanitary
5047 Medical, Dental, Ophthalmic and Hospital Equipment and Supplies
5199 Nondurable Goods (Not elsewhere classified)
5960 Direct Marketing: Insurance Services
5993 Cigar Stores and Stands
6012 Financial Institutions: Merchandise, Services, and debt Repayment
6211 Security Brokers/Dealers
6300 Insurance Sales, Underwritting, and Premiums
6513 Real Estate Agents and Managers: Rentals
6540 Non-Financial Institutions – Stored Value Card Purchase/Load
7299 Other Services (Not elsewhere classified)
7349 Cleaning, Maintenance and Janitorial Services
7523 Parking Lots, Parking Meters and Garages
8062 Hospitals
8211 Elementary and Secondary Schools
8220 Colleges, Universities, Professional Schools, and Junior Colleges
8241 Correspondence Schools
8244 Business and Secretarial Schools
8249 Vocational and Trade Schools
8299 Schools and Educational Services
8398 Charitable Social Service Organisations
8661 Religious Organisations
8675 Automobile Associations
8699 Membership Organisations
9211 Court Costs, including Alimony and Child Support
9222 Fines
9223 Bail and Bond Payments
9311 Tax Payments
9399 Government Services
9402 Postal Services



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[Trazora]

need to call dbs n citi to ask.. abit scare. does mcc for dbs and citi differ ?i only amaze into 3 merchants

Here’s the list of merchants excluded from amaze cashback.

MCC
Description

4111 Railroads, Transportation Services
4784 Tolls and Bridge Fees
4900 Utilities: Electric, Gas, Water, and Sanitary
5047 Medical, Dental, Ophthalmic and Hospital Equipment and Supplies
5199 Nondurable Goods (Not elsewhere classified)
5960 Direct Marketing: Insurance Services
5993 Cigar Stores and Stands
6012 Financial Institutions: Merchandise, Services, and debt Repayment
6211 Security Brokers/Dealers
6300 Insurance Sales, Underwritting, and Premiums
6513 Real Estate Agents and Managers: Rentals
6540 Non-Financial Institutions – Stored Value Card Purchase/Load
7299 Other Services (Not elsewhere classified)
7349 Cleaning, Maintenance and Janitorial Services
7523 Parking Lots, Parking Meters and Garages
8062 Hospitals
8211 Elementary and Secondary Schools
8220 Colleges, Universities, Professional Schools, and Junior Colleges
8241 Correspondence Schools
8244 Business and Secretarial Schools
8249 Vocational and Trade Schools
8299 Schools and Educational Services
8398 Charitable Social Service Organisations
8661 Religious Organisations
8675 Automobile Associations
8699 Membership Organisations
9211 Court Costs, including Alimony and Child Support
9222 Fines
9223 Bail and Bond Payments
9311 Tax Payments
9399 Government Services
9402 Postal Services



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MCC is the same across mastercards for same merchant. Which 3 merchants?

 

[highsulphur]

For my last quarter, I think i didn't get the rebate for GV booking and polyclinic dental treatment

 

[Suleyman]

For my last quarter, I think i didn't get the rebate for GV booking and polyclinic dental treatment

Polyclinics code as 8062, iirc, which is in the exclusion list. Even if not, the other possibilities are dental services (5047) or government agency (9399) both of which are also excluded.

 

[stonkogu]

Has anyone else noticed that there is now a small clip being taken somewhere along the pipeline for vnd fx? Started last Wednesday. If you compare what the master card online calculator shows for any transaction amount the amaze card used to charge exactly that amount .... but now I see for vnd transactions about a 0.15% clip being added over it. Ie 1190700 VND is shown as 71.44 sgd on calculator but bein charged as 71.55. Is this happening for other currencies too?

Here is the calculator if you want to have a play around https://www.mastercard.com/content/...en/personal/get-support/convert-currency.html

Just did a purchase - Instarem charged SGD112.09 while the mastercard calculator linked said SGD111.92 on a AUD112.75 txn. 0.15% difference as well.

 

[Trazora]

Just did a purchase - Instarem charged SGD112.09 while the mastercard calculator linked said SGD111.92 on a AUD112.75 txn. 0.15% difference as well.

instarem is not using mastercard rate, it is Reuter rate

 

[Trazora]

You are simply wrong in thinking this. I know a few reviews groups like money smart etc have claimed this previously but they have gotten it wrong and i guess they have misled you cause you have not bothered to check for yourself. But every transaction i have done on the card for last six months match the mastercard calculator exactly when set to 0 markup regardless to the time of day … and this because amaze actually simply use the same base mastercard rate citi, scb etc etc do for mastercard but with no markup. The rate is basically selected at a point in time where mc pull a rate out of their arse to use for 24 hours and longer over weekends. It has been very disappointing seeing apparently credible reviewers misunderstand the basic around the amaze rate.

The real issue though now is that as of wednesday last weekthere has been an additional premium over this mastercard rate. And that means someone has introduced a foreign transaction fee could be mc, amaze or the ultimate clearing creditcard company over and above the midmarket rate. Bearing in mind this was the smaze cards marketing ploy that there would be no goreign currency markup so it kinda sucks.


also fyi .., nobody uses the reauters rate it is simple indicative quotes and not tradable. If anyone is giving you the real market they will use the term interbank rate which is what revolut do.

this was from Amaze FAQ....

 

[CrashWire]

Has anyone else noticed that there is now a small clip being taken somewhere along the pipeline for vnd fx? Started last Wednesday.

But every transaction i have done on the card for last six months match the mastercard calculator exactly when set to 0 markup regardless to the time of day … and this because amaze actually simply use the same base mastercard rate citi, scb etc etc do for mastercard but with no markup. The rate is basically selected at a point in time where mc pull a rate out of their arse to use for 24 hours and longer over weekends. It has been very disappointing seeing apparently credible reviewers misunderstand the basic around the amaze rate.

The real issue though now is that as of wednesday last weekthere has been an additional premium over this mastercard rate. And that means someone has introduced a foreign transaction fee could be mc, amaze or the ultimate clearing creditcard company over and above the midmarket rate. Bearing in mind this was the smaze cards marketing ploy that there would be no goreign currency markup so it kinda sucks.

+1. I did a USD purchase on 21 April and was charged 0.44% over Mastercard rate. On 13 April it was 0.21%, and on 21 March it was 0.13%.

Looks like the spread is getting larger.

 

[RedsYWNA]

+1. I did a USD purchase on 21 April and was charged 0.44% over Mastercard rate. On 13 April it was 0.21%, and on 21 March it was 0.13%.

Looks like the spread is getting larger.

But as long as they give us 1% rebate, + your usual credit card rewards, Amaze still beats youtrip and revolut for the time being

 

[Trazora]

I think you must be confusing yourself between remittences and spending on amaze card. You be better to try verify it for yourself than try to win an arguement with me … and then you wont be wanting to argue

No I am very sure it is Amaze FAQ! Why u personal attacking me!

 

[hwmook]

Yes but the gem with amaze was you got to know exactly what you would be charged in advance. That seems to have gone out the window. I emailed their support and they claim it they are investigating. theorectically mc may have changed how their calculator works lol and that 0.15 ish might be previously hidden in their rate but not now but that seems unlikely

How you know the rate you will be charged "in advance"? Mastercard rate is determined after the day itself.

 

[hwmook]

You are simply wrong in thinking this. I know a few reviews groups like money smart etc have claimed this previously but they have gotten it wrong and i guess they have misled you cause you have not bothered to check for yourself. But every transaction i have done on the card for last six months match the mastercard calculator exactly when set to 0 markup regardless to the time of day … and this because amaze actually simply use the same base mastercard rate citi, scb etc etc do for mastercard but with no markup. The rate is basically selected at a point in time where mc pull a rate out of their arse to use for 24 hours and longer over weekends. It has been very disappointing seeing apparently credible reviewers misunderstand the basic around the amaze rate.

The real issue though now is that as of wednesday last weekthere has been an additional premium over this mastercard rate. And that means someone has introduced a foreign transaction fee could be mc, amaze or the ultimate clearing creditcard company over and above the midmarket rate. Bearing in mind this was the smaze cards marketing ploy that there would be no goreign currency markup so it kinda sucks.


also fyi .., nobody uses the reauters rate it is simple indicative quotes and not tradable. If anyone is giving you the real market they will use the term interbank rate which is what revolut do.

MC rate is not a mid market rate, there is a spread between the 2 currencies. You can try and see for yourself.

 

[cReDdY]

Do I get 10x points for using dbs WOMANS card amaze linked in overseas offline spend?

 

[hwmook]

No it isn’t you could go into the calculator until last wednesday put in todays date and the nominal amount and get exactly what amaze would charge you real time. The rate turns over about 3 am our time and that rate is used for all our transactions for that upcoming day. It does not change throught the day. How can you folks n realised this? Whenni say i know what rate i will be charged in advance it is literally that i could work out the amaze rate and switch to revolut if the sgd dollar had gone in my favour since the reset. How did you conclude the rate is set the next day when you see your transaction immediately hit the transaction list and goes unchaged after that.

Didn't verified amaze rate before since don't have enough much chance to use it for FCY but you are right. Regular credit card charge the rate when the transaction posted but since Amaze usually post in the same day so you can just use the same date for the day.

 

[Trazora]

Do I get 10x points for using dbs WOMANS card amaze linked in overseas offline spend?

yes so long merchant mcc not in dbs exclusion list

 

[yiron]

Amaze states in its FAQ that its rates are close to those seen in Google, but there are datapoints (e.g. from Milelion TG) that Amaze simply uses Mastercard FX rates with 0% bank fee.
This means Amaze FX rate is worse than wholesale FX rates, but overall still better after factoring in Amaze cashback and underlying card cashback/miles.

https://www.instarem.com/en-sg/amazeWhat is the exchange rate offered by amaze?
amaze offers competitive FX rates which are very close to the published rates you see on Google or other financial sites. Thus, you get the best possible value for your FX transactions and overseas purchases with amaze.

Where can I view the exact FX conversion rates and fees at any time?
Exchange rates and applicable FX fees are available in-app after you initiate a transaction. amaze offers competitive exchange rates which are very close to the published rates you can see on Google or other financial sites.

 

[savinmax]

all the fuss over under a dollar difference.
The rates are still much better than normal banks and bank cards.
Seems like a case of pennywise and pound foolish ..