The amaze card by Instarem is a multi-currency Mastercard that converts foreign spending at close to the mid-market rate and lets you link up to five existing Mastercards so the charge lands on the card you choose. It is genuinely useful for overseas travel and foreign-currency online shopping, where its FX cost runs roughly 1% cheaper than a normal Singapore credit card. The catch since 10 March 2025: every local SGD transaction made through a linked card now carries a 1% fee (minimum S$0.50), and the rewards programme was cut hard. So the honest answer is that amaze is worth carrying for foreign spend and best left out of your wallet for everyday SGD purchases. This guide walks through every fee, the real FX cost, what changed in 2025, and how to pair it with a credit card without bleeding value.
amaze is a multi-currency Mastercard issued by Instarem, a Singapore-licensed payments firm. It works in two modes. You can load money into the amaze wallet (in SGD or one of several foreign currencies) and spend directly, or you can link an existing Singapore Mastercard debit or credit card so amaze handles the currency conversion and pushes the charge to that card. You can link up to five Mastercards.
The selling point is the exchange rate. When you spend in a foreign currency, amaze converts using a rate close to the mid-market (interbank) rate plus a small spread, instead of the roughly 3.25% foreign transaction fee a typical Singapore credit card adds. That gap is where the savings live. For frequent travellers and people who buy from overseas websites, it is a real money-saver if you use it correctly.
There is no annual fee and no fee to apply. A virtual card is issued instantly in the app; the physical card arrives in about 14 to 21 days. amaze adds to Apple Pay and Google Pay, so you can tap with your phone before the plastic shows up.
This is the part that decides whether amaze saves you money. The fees split by what you are doing and which mode you use.
Foreign-currency spending is where amaze shines. There is no transaction fee on FX spend; you only pay the built-in exchange spread. Instarem quotes a spread of up to 2.1% versus the Mastercard rate, and independent testing typically lands around 2%. That is still about 1% cheaper than a standard credit card's ~3.25% foreign transaction fee, so on a S$1,000 overseas purchase you would save roughly S$10 in FX cost.
SGD spending is where it now hurts. Since 10 March 2025, any local SGD transaction made through a linked card carries a 1% fee with a minimum of S$0.50. Before that, the fee only kicked in above S$1,000 of card-linked spend per month. Now it applies from the first dollar. A S$5 kopitiam payment through amaze costs you the S$0.50 minimum, which is a 10% fee. Use a normal card for local spend instead.
| What you are doing | Wallet (loaded balance) | Linked card |
|---|---|---|
| Foreign currency spend | No fee, FX spread only | No fee, FX spread only (up to 2.1%) |
| SGD / local spend | No fee | 1% fee (min. S$0.50), from first S$1 |
| Overseas ATM withdrawal | 2% of amount, up to S$1,000/day | Not applicable |
| Top-up by PayNow / bank account | Free | Not applicable |
| Top-up by Apple Pay | 1.5% (min. S$0.50) | Not applicable |
| Annual / application fee | None | None |
If you read an older guide, ignore the rewards claims. Two changes on 10 March 2025 reshaped the card.
First, the 1% SGD fee went from applying only above S$1,000 of monthly card-linked spend to applying on every SGD transaction from the first dollar. That alone makes amaze a poor choice for local spending.
Second, the rewards programme was gutted. The cashback redemption option for InstaPoints was removed entirely. Points now convert to KrisFlyer miles at 1,200 InstaPoints for 400 miles, or to discount vouchers on Instarem money transfers. You earn 0.5 InstaPoints per S$1 of wallet spend (transactions under S$10 do not earn), which works out to roughly 0.17 miles per dollar. There is no monthly earning cap, but the rate is so thin that the cap is academic. This is a token return, not a reason to use the card.
One thing the change did not touch: only wallet spend earns InstaPoints. Spend routed through a linked card earns no InstaPoints at all, so the only points you collect come from money you load into the amaze wallet itself. If you redeem to KrisFlyer, the miles you bank are subject to KrisFlyer's own three-year expiry clock, and our guide on how to redeem KrisFlyer miles for award flights covers getting value out of them.
The practical takeaway: treat amaze as an FX tool, not a rewards card. The value is the cheaper exchange rate, full stop.
The two modes have different economics, so pick deliberately.
Use wallet mode when you want simplicity and the lowest FX cost without a credit card in the loop. Load SGD via PayNow for free, let amaze convert at spend time, and you avoid the linked-card complications. Foreign spend has no fee; only the FX spread applies. The downside is you forgo any credit-card rewards on the spend, and your wallet balance caps at S$15,000 with an annual spend limit of S$75,000.
Use linked-card mode when your linked credit card still earns rewards on amaze transactions, so you stack the cheaper FX rate on top of miles or cashback. The catch is that the 1% SGD fee makes linked mode unsuitable for local spend, and not every card issuer plays along (more on that below). Linked-card transactions are charged in SGD directly to the card, with a per-transaction limit of S$50,000.
Linking a rewards credit card is how power users squeeze value out of amaze: you get the near-mid-market FX rate and your card still earns its miles or cashback. But the mechanics have important wrinkles in 2026.
amaze passes through the merchant's actual Merchant Category Code (MCC), which you can see in the Instarem app's Activity tab. That matters because many bonus cards reward by category. At the same time, amaze transactions are presented to your linked card as online transactions and charged in SGD. So a card that gives bonus points on online or foreign spend can benefit, but you should check how your specific card treats amaze.
The big gotcha: several issuers stopped awarding rewards on amaze transactions. UOB, DBS and DCS cards generally do not earn miles or points on amaze spend. If you link one of those, you pay the FX spread and get nothing back. Confirm your card earns before you rely on it.
Even with a rewarding card, the 1% SGD fee kills the maths on local spend. On a S$50 SGD purchase via a 4-miles-per-dollar card, the 1% fee is buying those miles at about 0.25 cents each, which is poor value. Below S$50, the S$0.50 minimum fee makes it worse. Keep linked-card amaze for foreign currency, and pay local bills with the card directly.
For most people, no. The win from amaze is the FX saving of roughly 1% versus a normal card, not the rewards. If you are an active miles collector with a card that genuinely earns on amaze foreign spend, pairing adds a little on top. If you just want cheaper holiday spending, wallet mode does the job with less to think about.
The comparison that matters is foreign spend, because that is amaze's whole purpose. Against a standard Singapore credit card, amaze's ~2% FX spread beats the typical ~3.25% foreign transaction fee, saving about 1% on overseas purchases. Against rival multi-currency cards like YouTrip, the picture is closer: independent rate checks often show YouTrip slightly ahead on the exchange rate, and YouTrip charges no fee on SGD spend whereas amaze charges 1%.
Where amaze pulls ahead is the linked-card trick. No competitor lets you route the charge to an existing rewards credit card while still getting a cheap FX rate. If you have one of the better miles cards that earns on amaze, that combination can beat a standalone travel card. If you do not, a simpler card with no SGD fee may suit you better.
On ATM withdrawals overseas, amaze charges 2% with no free allowance, while YouTrip gives S$400 of free withdrawals a month before its 2% fee. If you pull a lot of cash abroad, that difference adds up.
| Feature | amaze (Instarem) | Typical SG credit card | YouTrip |
|---|---|---|---|
| FX cost on foreign spend | ~2% spread (up to 2.1%) | ~3.25% foreign fee | ~mid-market, no fee |
| SGD / local spend fee | 1% via linked card (min. S$0.50) | None | None |
| Overseas ATM | 2%, no free amount | Cash advance fees apply | S$400/mth free, then 2% |
| Rewards | 0.5 InstaPoints/S$1 to KrisFlyer | Card's own miles/cashback | Limited cashback / deals |
| Link existing credit card | Yes (up to 5 Mastercards) | N/A | No |
The foreign-spend table above covers the cost of each card. This one covers the plumbing, the limits and top-up rules that decide which card fits how you actually travel and spend. Both are MAS-regulated and free to hold, so the differences are in the caps and the cash access.
The headline split is local spend and cash. YouTrip charges nothing on SGD spend and gives you S$400 of free overseas ATM withdrawals a month before its 2% fee. amaze charges 1% on SGD via a linked card and 2% on every ATM withdrawal with no free allowance. If you draw a lot of cash abroad or want a single card you can also use at home, YouTrip is the cleaner pick. amaze wins only on the linked-card trick, routing a charge to a rewards credit card while keeping a cheap FX rate, which YouTrip cannot do.
| Feature | amaze (Instarem) | YouTrip |
|---|---|---|
| Wallet currencies | 11 | 12 |
| Foreign-spend FX | Up to 2.1% spread, no fee | Mid-market, no fee |
| SGD / local spend | 1% via linked card (min. S$0.50) | No fee |
| Overseas ATM | 2%, no free amount | S$400/mth free, then 2% |
| Wallet balance cap | S$15,000 | Higher (S$100k annual top-up) |
| Annual spend limit | S$75,000 | S$100,000 |
| Link a credit card | Yes, up to 5 Mastercards | No |
| Top-up methods | PayNow / bank free; Apple Pay 1.5% | Bank transfer / card |
| Rewards | 0.5 InstaPoints/S$1 (wallet only) | Cashback deals, no points to miles |
Setup is done entirely in the Instarem app. You sign up for an Instarem account, complete identity verification (Singapore ID and the usual KYC), and request the amaze card. The virtual card is ready straight away, so you can add it to Apple Pay or Google Pay and start spending; the physical card follows by post.
To use wallet mode, top up via PayNow or a linked bank account for free and you are set. To use linked-card mode, add a Singapore Mastercard debit or credit card in the app, confirming first that the issuer awards rewards on amaze if that is your aim.
A sensible default for a Singapore traveller: keep the wallet lightly funded by PayNow for foreign spend, use the physical or mobile card abroad, and never run local SGD purchases through a linked card. If you want to grow your travel fund alongside this, a simple plan in a budget calculator keeps your trip spending in check, and parking idle cash in one of the higher-yield savings accounts beats leaving it in the wallet earning nothing.
Because amaze sits between you and your real card, it is worth knowing what protects you if a card is lost or a charge goes wrong. amaze runs on Mastercard, so the spend it routes carries Mastercard's zero-liability cover against unauthorised transactions, on top of any protection your underlying linked card already gives you.
Day to day, the controls live in the app. You can freeze and unfreeze the card instantly if your phone or wallet goes missing, which stops new spend without cancelling the card outright. The card also exists as a virtual card from the moment you are approved, so you can keep the physical plastic at home and spend through Apple Pay or Google Pay, which limits exposure if the card itself is skimmed.
Disputes need care because of the two-mode design. A wallet-funded charge is between you and Instarem. A linked-card charge ultimately lands on your bank card, so a fraudulent or wrong transaction may need to be raised with both Instarem and your card issuer. Keep the in-app Activity record, since it shows the merchant, the real MCC and the amount, which is the evidence a dispute needs.
Two practical points trip people up once they start using the card. The first is how the charge appears. An amaze transaction reaches your linked card as an online purchase, and it carries the merchant's real Merchant Category Code rather than a generic one, because Instarem states it does not determine the MCC. You can open the Activity tab in the app and tap any transaction to see the exact MCC, which is useful for checking whether a category-bonus card should have paid out.
The second is that the merchant's real category can quietly kill rewards even on a card that does earn on amaze. Most miles and cashback cards exclude a long list of categories from their bonus rate, things like insurance, utilities, government and tax payments, education, hospitals and fuel. amaze passes the real category straight through, so paying one of those merchants abroad through amaze earns the base rate at best, even on a card that normally gives four miles per dollar. Check your own card's excluded-MCC list before assuming a foreign charge will earn the bonus. Our breakdown of MCC codes in Singapore explains which categories tend to be left out.
There is no annual fee or application fee. You only pay transaction-based costs: the FX spread (up to 2.1%) on foreign spend, a 1% fee (min. S$0.50) on SGD spend through a linked card since March 2025, 2% on overseas ATM withdrawals, and 1.5% if you top up via Apple Pay. PayNow and bank top-ups are free.
amaze converts foreign currency at close to the mid-market rate plus a spread of up to 2.1% against the Mastercard rate, often around 2% in practice. That is roughly 1% cheaper than a standard Singapore credit card's ~3.25% foreign transaction fee, so on a S$1,000 overseas purchase you save about S$10.
From 10 March 2025, amaze applies a 1% fee (minimum S$0.50) on every SGD transaction made through a linked card, from the first dollar. Previously the fee only applied above S$1,000 of card-linked spend per month. Because of this, amaze is no longer suitable for local Singapore purchases — use a normal card instead.
Barely. You earn 0.5 InstaPoints per S$1 of wallet spend (nothing on transactions under S$10), and InstaPoints now convert only to KrisFlyer miles at 1,200 points for 400 miles — about 0.17 miles per dollar. The cashback redemption option was removed in March 2025. Treat amaze as an FX tool, not a rewards card.
It depends on the issuer. amaze passes through the merchant's real MCC, but in 2026 UOB, DBS and DCS cards generally do not award rewards on amaze transactions. Check whether your specific card earns before relying on it, and use linked mode only for foreign spend because the 1% SGD fee wipes out the value on local purchases.
For straightforward overseas spending, YouTrip has no SGD fee and slightly better FX rates in many tests, plus S$400 of free overseas ATM withdrawals a month. amaze's edge is that it can route the charge to an existing rewards credit card while still giving a cheap FX rate, which YouTrip cannot do. Pick amaze if you have a card that earns on it; otherwise YouTrip is simpler.
The amaze wallet holds 11 currencies: SGD, USD, EUR, GBP, JPY, AUD, CHF, NZD, CAD, THB and MYR. You can link up to five Singapore-issued Mastercard debit or credit cards. The wallet balance caps at S$15,000 with a S$75,000 annual spend limit, and linked-card transactions are capped at S$50,000 each.
Neither, strictly. amaze is a multi-currency Mastercard tied to either a stored-value wallet or your existing cards. In wallet mode it behaves like a prepaid card and spends from your loaded balance. In linked mode it acts as a pass-through, routing the charge to whichever Mastercard credit or debit card you choose, so the credit or debit terms are those of the card behind it, not amaze.
Linked-card charges reach your card as online transactions billed in SGD, and they carry the merchant's real Merchant Category Code rather than a generic one, because Instarem does not set the MCC. You can see the exact merchant and MCC for any transaction in the Activity tab of the Instarem app, which is handy for checking whether a category-bonus card should have earned.
Yes. InstaPoints expire after a set period from when they are credited, so redeem rather than hoard them. You can redeem to KrisFlyer miles at 1,200 InstaPoints for 400 miles, or as discount vouchers on Instarem money transfers. Given the thin 0.5 InstaPoints per S$1 earn rate on wallet spend, most people will not build a meaningful balance anyway.
Freeze the card instantly in the app to block new spend, then arrange a replacement. amaze runs on Mastercard, so unauthorised transactions are covered by Mastercard zero-liability. For a disputed linked-card charge, you may need to raise it with both Instarem and your card issuer, since the charge ultimately lands on your bank card; keep the in-app Activity record as evidence of the merchant, MCC and amount.
This is general financial information for Singapore, not personal financial advice. Figures change — verify current rates against the official sources above before acting. See our full disclaimer.