Rewards Updates : Big Nerf: Instarem Amaze to Charge 1% Fee on Local Transactions, Removes Cashback From 10th March 2025

Source:

https://sethisfy.com/big-nerf-instarem-amaze-to-charge-1-fee-on-local-transactions-removes-cashback-from-10th-march-2025/

Apple Intelligence:

• Transaction Fee Change: Starting March 10, 2025, Instarem Amaze will charge a 1% fee on all local transactions made with a linked card.

• Cashback Removal: Cashback will no longer be available as a redeemable option starting March 10, 2025.

• InstaPoints Conversion: Instarem will introduce the ability to convert InstaPoints to KrisFlyer miles.

• Transaction Fee Change: A minimum fee of S$0.50 per transaction will be implemented, impacting transactions under S$50.

• Impact on Citi Rewards: The new fee structure makes the Citi Rewards and amaze pairing less attractive due to the higher effective fee.

• KrisFlyer Miles Redemption: Instarem will offer a 1,200:400 ratio for converting InstaPoints to KrisFlyer miles, which is a poor value compared to the cashback option.

• InstaPoints Redemption Change: InstaPoints can be redeemed for SGD, with 1,200 InstaPoints for 400 KrisFlyer miles.

• Transaction Fee Change: 1% fee for local transactions above S$1,000, no fee for overseas transactions.

• Wallet Limit Increase: Amaze wallet limit increased to S$15,000 with a higher annual transaction limit of S$75,000.

• Transaction Fee Change: 1% MCC fee on e-wallet top-ups and transit payments removed, replaced by a 1% fee on all local transactions.

• Citi Rewards Usage Change: Instarem prioritizes wallet-linked transactions over card-linked ones, making Citi Rewards less useful for offline purchases.

• Impact on Citi Rewards Users: Using Citi Rewards for offline purchases under S$50 becomes unviable due to the minimum transaction fee, impacting users who relied on amaze for offline Citi Rewards usage.