If you have a bill that will not take a credit card — rent, school fees, an insurance premium, your income tax — iPayMy puts it on your card for a fee and pays your biller by bank transfer. On a Singapore-issued card the standard fee runs from 2.40% to 2.95%, depending on the network your card runs on. Paying that to earn miles only makes sense if the miles are going towards a business class seat, and the promo codes below are what bring it within reach.
This is a guide to what iPayMy costs in 2026, the promos available, and the best cards that you can use currently.
What iPayMy Does
iPayMy is a payment platform that facilitates payments between you and a biller who does not accept credit cards. You charge the payment to your credit card and pay a service fee on top. The biller receives an ordinary bank transfer and never sees the credit card transaction at all. Your card sees a charge by iPayMy with the service fee and pays you its usual rewards on it, which is the whole point.
The categories iPayMy covers are rent, tuition, insurance, personal or property taxes, and bills like stamp duty, MCST and mortgages. I will also be paying the agent fee from PropNex via this method.
How Much Does iPayMy Charge in Singapore?
iPayMy’s standard fee is expensive, and it got worse when the platform raised its Singapore rates in June 2026, which is why I look for a promotion before scheduling anything. What you pay depends on the network your card runs on, whether a promotion covers that card or that payment type, and whether the payment repeats.
Here are the standard rates for Singapore-issued cards, on iPayMy’s rate card effective 19 June 2026.
| Payment type | Visa | Mastercard | American Express | UnionPay |
|---|---|---|---|---|
| One-time | 2.95% | 2.85% | 2.40% | 2.40% |
| Recurring (minimum 3 payments) | 2.60% | not published | not published | 1.85% |
The recurring rate needs at least three payments scheduled in a cycle, and iPayMy only offers it on Visa and UnionPay. Visa is not accepted for loan payments.
Every payout carries a S$1 fund safeguarding fee. It is charged per beneficiary, so paying five bills costs S$5. Any payment of S$100 or below is charged a minimum fee of S$3.00.
What a Mile Costs You Here
iPayMy charges the bill and the fee to your card as one amount, so you earn on the fee too. I value a mile at 1.25 to 1.5 cents, on the basis that the miles go towards a business class redemption, which is pretty low.
Here’s an example on a S$1,000 payment, on a standard 2.85% fee, on a UOB PRVI Miles World Mastercard:
Cost = (2.85% × S$1,000) + S$1 = S$28.50 + S$1 = S$29.50
Then cost per mile (CPM) = S$29.50 ÷ (S$1,029.50 × 1.4 mpd) = 2.05 cents
iPayMy Promo Codes and Current Promotions
Here are the promotions running now.
| Offer | Rate or discount | Code | New users only | Expiry | Rating |
|---|---|---|---|---|---|
| First payment, new personal account | S$30 off | Emailed when you sign up through referral link instead of direct | Yes | 30 days from the day your code is issued | ★★★★★ |
| First payment, new business account | S$200 off | Emailed when you sign up through referral link instead of direct | Yes | 30 days from the day your code is issued | ★★★★★ |
| Large payments — car, renovation, other major expenses | 1.99% | none | First transaction only, min S$50,000 | none published | ★★★★☆ |
| Any IRAS tax on a Singapore Mastercard | 1.99% | TAXMC2026 | No, and reusable | see the note below | ★★★★☆ |
| Recurring Visa, three payments or more | 2.60% | none | No | none published | ★★☆☆☆ |
The best offers are the first time codes, followed by those who have large payments to make or tax to pay.
“TAXMC2026” was launched for the 2026 income tax season, and iPayMy’s Help Centre states a charge-by date of 31 August 2026. But I tested it on 1 September and it still went through — so use it while it lasts.
The code works for any IRAS payment, including your Singapore property tax.
One thing to watch: only pay up to your actual tax bill. If you overpay, IRAS refunds the excess back to iPayMy, and iPayMy will most likely return it to your card. The catch is that iPayMy’s fee is non-refundable — so you’d have paid the fee on the overpaid amount without earning any miles on it.
New to iPayMy? Use the Promos in This Order
The optimal sequence is the new-user code on your first non-tax payment, then TAXMC2026 on your tax. To get the maximum S$30 off your first personal payment or S$200 off your first business payment, sign up through my iPayMy referral link and you will receive the code in your welcome email. It expires 30 days from issue, and it only works if you have never held an iPayMy account. If you sign up on the iPayMy website instead, the direct codes are smaller: S$20 off a personal account, S$80 off a business one.
How to Size Your First Payment to Use the Whole S$30
Divide S$30 by your fee rate and you get the payment size where the S$30 is fully utilised: about S$1,016 on a Visa at 2.95%, and about S$1,052 on a Mastercard at 2.85%. Your card is then charged the bill plus the S$1, and that one payment is the cheapest miles this platform will sell you.
Which Cards Earn on iPayMy
iPayMy publishes its own list of the cards that earn rewards on its payments, just over forty of them as at 22 July 2026. It is the platform’s list, not your bank’s: iPayMy still names a Bank of China card that the bank itself removed from rewards on iPayMy in July 2025, so check with your issuer before you count on a card being on it. Most are general-spend cards earning between 0.4 and 1.6 miles per dollar. The twelve below are my shortlisted cards.
How I Pick the Cards Below
- Cost per mile
- I prefer a card with a waivable annual fee. Where I have kept one that is not waivable, or is invitation only, it is flagged in the table.
Best Cards To Use on iPayMy in 2026
Here is the line-up. Each card is costed at its own network’s rate, then at the 2.60% recurring Visa rate and the 1.99% income-tax rate, which is Mastercard only.
| Card | Earn rate (local spend) | Standard one-time | Recurring Visa, 2.60% | IRAS tax, 1.99% |
|---|---|---|---|---|
 UOB PRVI Miles World MastercardApply – Mastercard | 1.4 mpd | 2.05¢ | — |  1.46¢ |
 UOB PRVI Miles VisaApply – Visa | 1.4 mpd | 2.11¢ | 1.88¢ | — |
DBS Insignia Visa Infinite invitation only · earn rate not published by DBS, so treat the figures as indicative | 1.6 mpd | 1.85¢ | 1.64¢ | — |
 OCBC 90ºN MastercardApply – Mastercard | 1.3 mpd | 2.20¢ | — | 1.57¢ |
 OCBC 90ºN VisaApply – Visa | 1.3 mpd | 2.28¢ | 2.02¢ | — |
 Citi PremierMiles MastercardApply | 1.2 mpd | 2.39¢ | — | 1.71¢ |
 DBS Vantage S$599.50, non-waivable from 1 Aug 2026 | 1.5 mpd | 1.97¢ | 1.75¢ | — |
| Amex SIA KrisFlyer Ascend S$397.85, no first-year waiver | 1.2 mpd | 2.03¢ | — | — |
| Amex SIA KrisFlyer Credit Card | 1.1 mpd | 2.22¢ | — | — |
 DBS Altitude Visa SignatureApply – Visa | 1.3 mpd | 2.28¢ | 2.02¢ | — |
| Standard Chartered Visa Infinite S$599.50, strictly non-waivable | 1.4 mpd | 2.11¢ | 1.88¢ | — |
 Standard Chartered JourneyApply – fee waiver Apply – standard | 1.2 mpd | 2.47¢ | 2.19¢ | — |
Worked on a S$1,000 payment; cost = service fee plus the S$1 safeguarding fee, miles earned on the full amount charged.
Worth it, for the right card and the right bill. The UOB PRVI Miles World Mastercard on an income tax payment falls within my 1.25 to 1.5 cent valuation, at 1.46 cents for miles that I would use for business class redemption.
What This Looks Like on a Real Statement
Here is my own first payment, on a UOB PRVI Miles Mastercard statement.
| Bill | S$1,050 |
| Service fee, 2.85% less the S$30 code | S$0 |
| Fund safeguarding fee | S$1 |
| Charged to my card | S$1,051 |
| Earned | 735 UNI$ = 1,470 miles |
Those 1,470 miles cost me a dollar, and the code that did it only works once.
How to Pay a Bill Through iPayMy
1. Sign up and verify your identity. Use the referral link above first if you are new, so the S$30 code reaches your inbox before you pay anything.
2. Add your payee with their bank details. iPayMy sorts payees by category, and the one you pick decides which fee and which promo codes apply.
3. Choose your payment amount and the date you want your biller to receive it. For a tax payment the payee is IRAS, and you enter your tax reference number and the tax type.
The date you pick is the date your biller is paid. Your card is charged earlier, and the calendar marks the two separately.
4. Choose one-off or recurring. Recurring needs at least three payments scheduled in a cycle to get the lower rate, and it is Visa and UnionPay only.
5. Enter a card, then apply your promo code before you confirm. A code cannot be added afterwards. If you signed up through a referral link, the code is in the welcome email — check your junk folder if it is not in your inbox.
Once you click “Apply” after entering your promo code, you should see the fees (above) change its value from S$28.50 to the correct fee.
6. Confirm. The payment and the service fee appear together on your card statement, and your card pays its rewards as normal.
What to Watch Out For
The date that counts is the date your card is charged, not the date you set the payment up. A promotional rate with an end date is measured against the charge date, so a payment scheduled inside a promo window but charged after it closes pays the standard fee.
FAQs
How much does iPayMy charge in Singapore?
On a Singapore-issued card, 2.95% on Visa, 2.85% on Mastercard, and 2.40% on American Express or UnionPay, for a one-time payment. Set a payment to repeat at least three times and Visa drops to 2.60% and UnionPay to 1.85%. Every payout also carries a S$1 fund safeguarding fee, and any payment of S$100 or below is charged a minimum fee of S$3.00. A card issued outside Singapore costs 3.35% to 3.95%.
Is there an iPayMy promo code?
Yes. Any tax payment to IRAS on a Singapore Mastercard is 1.99% with the code TAXMC2026, so it covers property tax and stamp duty, not only income tax. New personal accounts get S$30 off and new business accounts S$200 off through my referral link. Recurring Visa and UnionPay payments get 2.60% and 1.85% with no code at all, and a first transaction of S$50,000 or more is charged 1.99%.
Can I open a second account to use the new-user code again?
No. iPayMy’s referral terms are for a user who has not registered before, and it says it can withhold rewards from anyone running multiple accounts. Size one payment to use the whole code instead.
Can I use my 4 miles per dollar card on iPayMy?
No. The Citi Rewards and the UOB Preferred Platinum are both on iPayMy’s list, but their 4 mpd only applies to set categories — online shopping, department stores, mobile contactless — and a bill payment is not one of them. You earn the card’s base rate instead, which on the Citi Rewards is 0.4 mpd, or more than 7 cents a mile. Use one of the cards in the table above.
Is American Express the cheapest card to use on iPayMy?
Amex has the cheapest fee at 2.40%, and the KrisFlyer Ascend turns that into 2.03 cents a mile. Only the DBS Insignia and the DBS Vantage in my table come in cheaper, and one is invitation only while the other carries a fee you cannot get waived. On the other Amex cards the earn rate is too low for the cheap fee to help at all: the Platinum Charge converts at about 0.63 mpd, which is 3.87 cents a mile, and the Centurion at 0.78 mpd is 3.13 cents.
But Amex is very limited in usability. iPayMy runs a whitelist for it instead of the full category list: rent and rental deposits, income tax, property tax, stamp duty, MCST fees, school and tuition fees, season parking, and insurance. iPayMy’s own two pages disagree on tax for Amex — its card list says tax on an Amex may not earn, its American Express policy page lists income tax, property tax and stamp duty as supported — so test a small payment before you route a tax bill to an Amex. Car loans, mortgages, renovation, helper salaries and utilities are excluded, so the cheapest fee on the platform does not reach some of the biggest bills. Insurance and utility payments on an Amex also sit outside iPayMy’s Points Guarantee. Amex also works only on domestic payments from a Singapore personal account, with no overseas transfers and no business-account payment types at all.
Can I Use HSBC Revolution, DBS Woman’s World, Maybank XL or UOB Lady’s on iPayMy?
None of them appears on iPayMy’s eligible-card list. That list is the platform’s, not your bank’s, and iPayMy’s Points Guarantee only extends to cards on it — so with any card that is off the list, if it earns nothing you have paid the service fee for nothing. Standard Chartered Journey is off the list too, and it is in my table on the operators’ evidence rather than iPayMy’s. HSBC is the clearest case: it has excluded payment platforms like this one from earning rewards since 2020.
Is iPayMy or CardUp cheaper?
It depends on your card’s network and whether you hold a promo code, so there is no single answer. Both platforms raised their fees in June 2026 and both move their promo rates often, which is why I keep the comparison in a separate piece and cost each platform per mile rather than per cent of fee: Cheapest Ways to Pay Bills for Miles.
What does iPayMy’s Points Guarantee actually cover?
It covers zero points earned, not cards with less points earned. If you pay with an eligible rewards-earning card and your issuer awards you no points at all for that payment, iPayMy refunds the service fee for it. Claiming means sending iPayMy a letter from your card issuer stating why zero points were awarded, along with supporting documents, and they come back within two business days. It does not promise you a bonus rate, and on an Amex, insurance and utility payments sit outside it.
Fees and promo codes change often and are subject to iPayMy’s terms. Confirm the rate in the app before you pay.
The way I would use iPayMy is the new-user code first, on the largest bill it fully covers, then TAXMC2026 at 1.99% when the tax bill arrives.
If you are weighing this against the other ways to pay a bill by card, I compared the platforms on cost per mile in Cheapest Ways to Pay Bills for Miles, and worked through when a service fee is worth paying at all in my decision framework. I also built a miles calculator so you can run your own payment through it and see the cost per mile before you pay.
💳 Credit cards change their T&Cs every so often and it’s difficult to stay updated. That’s why I created a [Telegram Broadcast](https://t.me/lobangsis) where you can receive timely bite-sized updates.
