Ipaymy

[JuniorLion]

No lah. Didnt pay that much but premium due date on 10th. Just concern policy might lapse for late payment.

There is a 30day grace period. After that, it will go into automatic premium loan.

It will lapse ONLY if your cash value is less than the premium.

 

[fone]

Anyone tried ipaymy to receive funds via card? How is the payout speed like?

 

[JuniorLion]

Anyone tried ipaymy to receive funds via card? How is the payout speed like?

Only for legit business payment. Don't try to do stuff like that.

 

[fone]

Only for legit business payment. Don't try to do stuff like that.

Lol, who says my question is not for legit business payment?

 

[lupster]

since you pay your taxes using this, is there a way to do voluntary cpf contribution as well?

 

[JuniorLion]

since you pay your taxes using this, is there a way to do voluntary cpf contribution as well?

They are completely unrelated.

Answer is no.

 

[TiedInsurer]

Only for legit business payment. Don't try to do stuff like that.

Hmm. Right now, like most young adults, i'm living in my mum's house. Like most young adults, i'm also paying her a monthly sum, for parent's maintenance. What if i stop paying parent's maintenance...... and start paying them rent for living in their house instead?

Then i would be able to use the UOB promotion of 10% cashback for grab top-up, and pay my parents rent at 2.25% (ipaymy fee) + 0.4% (stamp duty) = 2.65%? Then i pocket the difference? Am i missing anything?

 

[silverbomb]

Hmm. Right now, like most young adults, i'm living in my mum's house. Like most young adults, i'm also paying her a monthly sum, for parent's maintenance. What if i stop paying parent's maintenance...... and start paying them rent for living in their house instead?

Then i would be able to use the UOB promotion of 10% cashback for grab top-up, and pay my parents rent at 2.25% (ipaymy fee) + 0.4% (stamp duty) = 2.65%? Then i pocket the difference? Am i missing anything?

go read up their website, all infos are there: https://help.ipaymy.com/en/articles/2518095-how-do-i-pay-rent

 

[TiedInsurer]

go read up their website, all infos are there: https://help.ipaymy.com/en/articles/2518095-how-do-i-pay-rent

Yeah, i'm aware i need the tenancy agreement. That's why i added in stamp duty. I'm actually asking if there's any other fees i missed.

 

[fone]

Hmm. Right now, like most young adults, i'm living in my mum's house. Like most young adults, i'm also paying her a monthly sum, for parent's maintenance. What if i stop paying parent's maintenance...... and start paying them rent for living in their house instead?

Then i would be able to use the UOB promotion of 10% cashback for grab top-up, and pay my parents rent at 2.25% (ipaymy fee) + 0.4% (stamp duty) = 2.65%? Then i pocket the difference? Am i missing anything?

1) You will need tenancy agreement, as others have stated.
2) Help to pay maintenance, is probably not taxable. Receiving proper rent, is considered income and is taxable by IRAS. By doing it via electronic means there is black and white, should IRAS want to come and tax them.
3) Also, by paying rent, it means not owner occupied? Property tax may be different? Not sure how they calculate for 1 room "rented" out.
4) Cardup has a rent promo for 1.9% (until June 2020?)

 

[JuniorLion]

Hmm. Right now, like most young adults, i'm living in my mum's house. Like most young adults, i'm also paying her a monthly sum, for parent's maintenance. What if i stop paying parent's maintenance...... and start paying them rent for living in their house instead?

Then i would be able to use the UOB promotion of 10% cashback for grab top-up, and pay my parents rent at 2.25% (ipaymy fee) + 0.4% (stamp duty) = 2.65%? Then i pocket the difference? Am i missing anything?

Your parents need to pay tax on the rent they received.

 

[TiedInsurer]

1) You will need tenancy agreement, as others have stated.
2) Help to pay maintenance, is probably not taxable. Receiving proper rent, is considered income and is taxable by IRAS. By doing it via electronic means there is black and white, should IRAS want to come and tax them.
3) Also, by paying rent, it means not owner occupied? Property tax may be different? Not sure how they calculate for 1 room "rented" out.
4) Cardup has a rent promo for 1.9% (until June 2020?)

2)My parents don't work, so income tax isn't a problem. Just realised that the amount i pay them for rent can't be more than $4k per annum though, or i won't be able to claim parent relief on my own income tax.

3) No clue about property tax.... i'll have to give IRAS a call.

4) Didn't know about Cardup, thanks.

 

[denn23]

I have 0 issues using ipaymy for GE.

Just wait 2-3 days lah. People these days have no patience. Seriously.

apologies for noob question but is the below the correct accounnt details?

Name & Address of Bank: Oversea-Chinese Banking Corporation Ltd 65 Chulia Street OCBC Centre Singapore 049513 SWIFT code: OCBCSGSG

Great Eastern Life Bank Account Number with OCBC: 501-036925-001 (Singapore Dollars Policy)

 

[tjiathai9]

Hi,

Anyone got 3% from BoC Family card for ipaymy recently?
I called BoC but the officer didn't know if it qualifies. She said cardup does.

 

[Trazora]

Hi,

Anyone got 3% from BoC Family card for ipaymy recently?
I called BoC but the officer didn't know if it qualifies. She said cardup does.

Ipaymy have same mcc as cardup so should be ok.

 

[hclee01]

Hi,

Anyone got 3% from BoC Family card for ipaymy recently?
I called BoC but the officer didn't know if it qualifies. She said cardup does.

Based on the website given, it should be eligible:
https://help.ipaymy.com/en/articles/3153490-which-cards-can-earn-rewards-with-ipaymy

 

[Sethisfy]

apologies for noob question but is the below the correct accounnt details?

Name & Address of Bank: Oversea-Chinese Banking Corporation Ltd 65 Chulia Street OCBC Centre Singapore 049513 SWIFT code: OCBCSGSG

Great Eastern Life Bank Account Number with OCBC: 501-036925-001 (Singapore Dollars Policy)

Correct. Just paid last week

 

[Vindicatum]

Just wanna ask if it's possible to pay tuition fee loan using ipaymy?

 

[toneads]

Anyone know? asked before but no reply. Want to do a charge to my card soon.

Any SC CC holder have any luck?

SC CC rejected my ipaymy transaction

 

[vddgnd]

SC CC rejected my ipaymy transaction

You mean no cash back/miles or transaction not went through? Your payment was under which category in ipaymy?