If you’re a travel hacker, you’re probably always looking for ways to maximise every trip. Read on to see how I made money while travelling!
Earlier in October, I took an unforgettable road trip to Perth to celebrate my birthday and attend a friend’s wedding. While catching up with old friends and discovering new spots was a thrill, travelling always brings its own financial concerns, particularly when dealing with multiple currencies and keeping track of expenses.
This time, though, I had a little secret weapon with me: amaze card.
While the Wise card has been my everyday go-to travel card, amaze reached out to challenge that status.
With features like competitive exchange rates, 1% cashback, and regular rewards stacked on top of your usual credit card benefits, it doesn’t just make transactions easy – it maximises your travel experience. That’s why I took up the challenge and put it to the test on this Australia trip.
If you’re curious about how this card can supercharge your travel game, save you money, and make hitting those bonus spending targets easier, keep reading – I’ll share everything you need to know about how amaze took my Perth adventure to the next level.
For those of you who’re already using amaze, there’s also a chance to win 100,000 KrisFlyer miles. Read on to find out!
At A Glance
What Is The Amaze Card?
The Instarem Amaze Card is honestly a game-changer for anyone who travels regularly, especially if you’re looking to save on fees and earn extra rewards with every international purchase.
Developed by Instarem, this smart travel card is perfect for simplifying overseas transactions. In a nutshell, amaze lets you earn more rewards on foreign currency spends and cuts down those pesky FX fees, which can really add up when you’re on the road.
I’ve tried a few other multi-currency cards before, like Wise and Revolut, but amaze has quickly become one of my go-tos. Not only do I save on conversion rates, but I also get cashback on each transaction – a small bonus that feels great when you’re budgeting for an extended trip.
For me, using Amaze is like having a powerful financial tool in my wallet that ensures I’m getting the best rates without having to think twice about it.
Get 300 KrisFlyer miles just by signing up through the Instarem app before 31 January 2025!
Key Features Of The Amaze Card
Multi-Currency Wallet
The Amaze Wallet allows you to hold multiple currencies at once, so you can easily manage your funds for different countries. Whether you’re in Australia, Europe, or Asia, the card automatically selects the right currency for your purchase, helping you save on conversion fees.
Best Exchange Rates
Amaze Card offers some of the best exchange rates with zero FX markup. For example, when I was converting Australian Dollars in Perth, the rate I got was as good as the one on Google – better than what you’d find at a money changer.
Credit Card Reward Integration
Linking the Amaze card to your Mastercard allows you to earn credit card points or miles, making it a double-dip deal.
It worked seamlessly with my existing credit cards, so I didn’t have to carry multiple cards or worry about missing out on rewards.
How Does the Amaze Card Work?
Think of the Instarem Amaze Card like a smart wallet with 2 distinct pockets: 1 for the Amaze Wallet and another linked to your regular credit card.
When making a payment, you choose which pocket to use, but here’s the catch – you can only pick one for each transaction. This means you can’t mix funds from both sources in a single purchase.
We’ll go into greater detail what each payment source means.
Payment Source 1: Amaze Wallet
The Amaze Wallet is a great tool for anyone looking to manage multiple currencies and make the most of favourable exchange rates while travelling.
It allows you to buy currencies when they’re at your preferred rates and lock them in for future use, which can really help you save money. I’ve found this feature super useful during my travels, especially when exchange rates fluctuate and I want to make sure I’m getting the best deal before making a big purchase.
You can top up your Wallet in various ways:
When you top up your Amaze Wallet, the transaction is coded under MCC 6540 (POI Funding Transactions), so, much like with Revolut, you won’t earn any credit card rewards for these top-ups.
Note that if you top up using a Visa card, a 2.1% fee applies (with a minimum fee of SGD 0.50), and if you use a Mastercard, the fee is 1%.
The best way to top is thus by local bank transfer.
One thing that really stood out for me is how easy it is to spend from the Amaze Wallet without needing to pre-select a currency.
For example, you’re in a Perth café, about to pay for a delicious croissant and coffee that costs AUD 15. You’ve got both Australian Dollar (AUD) and Singapore Dollar (SGD) loaded in your Amaze Wallet.
If you only have AUD 10 in your Amaze Wallet, the card will automatically cover that AUD 10 and then pull the remaining AUD 5 from your SGD balance, converting it to the best available rate.
It’s like having your own currency expert seamlessly managing your funds, ensuring you always get the best exchange without any extra hassle.
And the exchange rate you get when using Amaze Wallet is typically better than what you’d get with a regular debit or credit card, which is a big win in my book.
However, it’s not all smooth sailing. One thing I learned the hard way is that Amaze Wallet balances can’t be directly transferred to a bank account.
If you want to cash out, one option I’ve tried is using the Amaze Card to top-up an e-wallet, like GrabPay. From there, you can transfer the GrabPay balance to your bank account.
But here’s the catch – Amaze charges a 1% fee (min. SGD 0.50) for all GrabPay or e-wallet top-ups, so it’s not a completely hassle-free process.
I did this once when I needed to get funds into my local account, and while it worked, the extra fee was something I hadn’t fully anticipated. As a result, I’ve had little pennies leftover in my wallet with nowhere to go.
Payment source 2: Bank card
Here’s how using the Amaze Card with your bank cards works in simple terms:
You can link up to five Mastercard debit or credit cards issued in Singapore to your Amaze Card. Once linked, you’ll choose one card as your default for transactions. Anytime you use the Amaze Card, it acts as a middleman between you and the merchant. Here’s what happens step by step:
- Foreign Currency (FCY) Conversion: If you’re making a purchase in a foreign currency, Amaze automatically converts it to Singapore dollars using its internal exchange rate.
- Charge to Your Linked Card: amaze charges the converted amount in SGD to the debit or credit card you’ve linked.
The process is fast and easy, and there’s no separate bill for amaze itself. You’ll just need to settle the outstanding amounts on your linked card as usual at the end of the month.
Here’s the bonus: you still earn rewards (like cash back or points) from your linked card, provided the transaction type isn’t excluded by the bank’s terms. This makes Amaze an easy way to combine rewards with currency conversion savings, all in one card.
Therefore, you will earn rewards according to the local spend rate, for cards which offer overseas spending bonuses.
All Amaze transactions code as online spend, which means they will be eligible for the online spending bonus with:
- 4 mpd with the Citi Rewards Card (all online transactions except mobile wallet and travel)
- KrisFlyer UOB Credit Card (all online shopping transactions, as defined in T&Cs)
- OCBC Rewards Card (Clothes, bags, shoes and other shopping)
However, do note that Amaze will impose a 1% fee on all SGD transactions above S$1,000 each calendar month
A few points:
- Amaze transactions are considered online purchases. This means any transaction you make with your Amaze card is treated as an online spend, potentially earning online rewards depending on your linked credit or debit card’s terms.
- All Amaze transactions are charged in SGD. Regardless of the original currency of your transaction, Amaze converts it to Singapore dollars using its internal exchange rate.
- The original MCC (Merchant Category Code) is preserved. Amaze keeps the underlying merchant code intact, which can affect whether you earn rewards based on your linked card’s category bonuses or exclusions.
- Transaction descriptions are updated to include “AMAZE” and the merchant name. For example, a spend at Starbucks might appear as “AMAZE*Starbucks” in your credit or debit card statement.
- You can pair up to five Singapore-issued Mastercard credit or debit cards with amaze. It’s flexible, allowing you to switch between cards easily and even set a default card for seamless transactions.
- DBS, POSB, and UOB cards no longer offer rewards for Amaze transactions. Unfortunately, these banks have excluded Amaze from their points and cashback programs, so you won’t earn any rewards when using their cards with Amaze.
- Citi cards still work with Amaze but have some exclusions. While Citi cards generally earn rewards on Amaze spends, transit-related transactions (like bus and MRT fares via EZ-Link) are excluded, so it’s best to avoid those.
Now, you might be thinking… Wouldn’t I incur very high exchange rate fees if I use my credit card to make foreign transactions via amaze? Here’s a quick breakdown
Spending in a foreign currency with amaze versus a standard credit card,
Amaze Wallet | Credit Card | |
---|---|---|
Conversion rate | Better | Worse |
Foreign exchange fees | ~2% | ~3.25% |
Lock in rate for future expenses | Yes | No |
Credit card rewards | Yes, if you make payment through the linked Mastercard | Yes |
All in all, if you spend in a foreign currency, you’re still subject to a currency exchange fee when spending through amaze. However, the rate is lower than if you spend it with a credit card, and so it’s worth it given the rewards and cashback that you’ll get from it.
Get 300 KrisFlyer miles just by signing up through the Instarem app before 31 January 2025!
Why I Use Amaze For All My Travel Expenditure Overseas
I’ve been using the Instarem Amaze Card for all my overseas spending, and it’s honestly made travelling so much easier. I used it recently in Perth, and here’s how it worked out:
1. Linking With My Mastercard Credit Cards
I linked my Amaze Card to my Citi Rewards Mastercard for the trip. This meant I earned 4 miles per dollar on my daily expenditure in Perth from food to shopping, which is a great rate compared to using my regular bank card.
There’s no need to top up the card since it pulls funds directly from my credit card, saving me time and hassle.
2. Multi-Currency Wallet
Amaze lets me hold multiple currencies in one wallet, so when I needed Australian Dollars (AUD), I didn’t have to worry about carrying cash or using a separate card for my purchases.
Here’s a comparison table between Amaze and Wise, another common multi-currency debit card:
Feature | Amaze | Wise |
---|---|---|
Target Audience | Primarily aimed at frequent travellers | Suited for both personal and business users globally |
Supported Currencies for Holding | Up to 10 currencies (USD, EUR, SGD, etc.) | Over 50 currencies (including major and exotic options) |
Currency Conversion Fees | No exchange rate markup, uses real-time rates | Small conversion fee based on currency, starting at 0.43% |
Ease of Loading Funds | Top-up via local bank transfer, debit/credit cards | Top-up via bank transfer or debit/credit card, also supports direct debit in some countries |
Payment Network | MasterCard network for global acceptance | Debit card linked to the MasterCard or Visa network for worldwide acceptance |
Rewards and Offers | Earn InstaPoints on foreign currency spend, special promotions | Earn rewards through the Wise referral program (limited) |
Fee Transparency | Transparent fees with no hidden charges on foreign exchange | Detailed fee breakdowns in-app, always showing the mid-market rate |
Cashback and Spending Benefits | Offers cashback and up to 0.5% rebate with InstaPoints | No direct cashback |
3. Competitive Exchange Rates
When I compared exchange rates in Perth, the Amaze Card gave me the best rates, with no extra FX markup. I checked the rates on Google and they were spot on with what I got when using Amaze.
I swapped some of my SGD to AUD for a day trip, and the rate was exactly the same as what I saw online, which saved me money compared to using a traditional currency exchange service.
4. Budget Management
Because I top up the Amaze Wallet before spending, I have better control over my budget. I topped it up with a set amount before my trip, and that’s what I stuck to. It helped me avoid overspending.
This method also worked well in Perth, where I kept track of what I had left after each transaction, making sure I stayed within my limits.
Get 300 KrisFlyer miles just by signing up through the Instarem app before 31 January 2025!
But wait, there’s more rewards!
InstaPoints – Amaze Card Cashback
The Amaze Card offers a solid 1% cashback on virtually anything, which is a pretty great perk when you’re spending overseas. Plus, on top of this, it gives you the chance to earn regular credit card rewards.
But what really sets it apart is the InstaPoints system, which allows you to earn even more rewards on foreign currency transactions.
With InstaPoints, you’ll earn points on qualifying foreign currency (FCY) transactions of at least SGD 10, and up to 500 InstaPoints per month.
While this sounds like a great deal, there’s a cap: once you’ve spent over SGD 1,000, your rebate will decrease slightly with each additional dollar spent. This means it’s best to be mindful of how much you’re spending if you’re aiming for that extra reward.
InstaPoints are usually credited within 3 business days, but honestly, I’ve found they show up almost instantly – always a pleasant surprise!
When it’s time to redeem your InstaPoints, it’s super straightforward! I can exchange 2,000 InstaPoints for S$20 cashback – it feels great seeing those rewards add up.
Avoid the 1,000 points = SGD 5 option, as this only gives you 0.25% back. It’s better to wait until you’ve accumulated at least 2,000 points, which translates into a more valuable 0.5% rebate.
What makes the Amaze Card so enticing is that you can double dip on rewards. You’ll get your regular credit card rewards on top of the InstaPoints, giving you the potential for an additional 0.5% rebate.
Plus, Amaze runs special promotions from time to time that ups the InstaPoints earn rate. I always keep an eye out for these, as they can really add up – like the recent deal where you earn 0.5 InstaPoints per SGD 1 spent overseas.
All in all, the Amaze Card’s cashback and rewards system is a fantastic way to maximise your spending, especially when you’re travelling. Just keep track of your points and stay alert for promotions to get the best bang for your buck.
On this Australia trip, I felt the full impact of its perks firsthand. No more juggling different cards for rewards or feeling that sting on currency conversion fees.
I loved how seamless it was to handle everything – from spending in multiple currencies to withdrawing cash without fees.
The ability to lock in favourable exchange rates and manage multiple currencies is fantastic, but those top-up fees and limits are something to plan for.
Plus, linking my Mastercard credit cards with amaze meant I could still earn points and miles for the respective credit cards, which was a nice bonus.
If you’re looking for an easy way to manage your spending while travelling, this card may just be your go-to. When used strategically, it can be a great way to save on foreign currency transactions and get more out of your spending.
And right now, you can get 300 KrisFlyer miles just by signing up through the Instarem app before 31 January 2025. It’s simple – just download the app, complete the setup, and you’re set.
For those who are already using Amaze, there’s also a chance to win 100,000 KrisFlyer miles. Earn 1 chance on each action:
- Every transaction with min spend of S$150 equivalent in FX spend
- Refer a friend successfully
- Friend has to sign up for amaze, and spend at least S$10 on card
- Top up wallet $300
- Send money overseas min S$1,000