Not too long ago, I wrote that the UOB Absolute Cashback Card is a game changer with its almost no spend exclusions. Coupled with the timely reinstatement of GrabPay for all AXS transactions (except for credit card bills and loan payments), I finally got time to put its no spend exclusions to the test. I had a big premium on my insurance policy that was due last month and paid it using a combination of UOB Absolute Cashback Credit Card and GrabPay MasterCard on the AXS Mobile App. As a result, I earned a handsome 1.7% cashback for my efforts, an expenditure that would have yielded zero savings in the past. I know the combination sounds a handful to handle, so here is the step-by-step guide on how I paid my insurance on AXS and earned 1.7% cashback. I have included some tips on how to execute this hack effortlessly as well.
Pay Bills on AXS and Earn 1.7% Cashback
Start by topping up your GrabPay wallet/MasterCard with your UOB Absolute Cashback Card. This is to circumvent the fact that the UOB Absolute Cashback Card is powered by AMEX which may not be accepted by some insurers. Moreover, some authorities such as IRAS do not accept credit card payments. Do note that the $1 transaction fee incurred for GrabPay topups does not apply for UOB Absolute Cashback Card since it is powered by AMEX.
Diagram 1 is a screenshot of me making a one-time top-up to my GrabPay wallet. Note the transaction limits applicable, which I will cover in the later part of the article.
Next, download the AXS Mobile App or access AXS e-Station via the desktop browser. Why spend time to queue at an AXS Machine near you when you can make payments from the comfort and convenience of your home? For my case, I logged in to AXS m-Station via the mobile app.
Your insurer should also have specific guidelines on the various ways that policyholders can pay their premiums. Since I was paying a Great Eastern policy this time round, I referred to this online guideline on how to make payment on AXS.
Once you have keyed in the details of your insurance policy and upon the first successful payment, it will be automatically added to “My Favourites” as shown in Diagram 2.
Do insert a nickname so that you can identify it easily, especially critical if you have multiple policies from the same insurer which can be confusing. (Tip #1)
If you are making payment for the very first time with your GrabPay Mastercard, do select Debit Cards > MasterCard as the payment mode. Once you have entered the credit card details, do save it onto the app so that you are spared the trouble of entering it repeatedly especially if you need to break up your payment in multiple tranches. (Tip #2)
You actually do not need the physical GrabPay MasterCard, just the virtual one on your Grab app would do. (Tip #3)
After your GrabPay MasterCard have been saved onto the AXS mobile app, you can just click on the card to proceed to make payment as shown in Diagram 3.
Next, you will be prompted to enter your 2-factor authentication (‘2FA’) code to complete the payment. Once this is done, you will be informed that the transaction has been successful as shown in Diagram 4.
I would perform a cross check to ensure that there has been a corresponding deduction in my GrabPay wallet as shown in Diagram 5.
In the next business day, I would double check with the online portal of the insurer to ensure that payment has been recorded. This was what I did with the first “test” payment to ensure everything went smoothly. The processing time was really quick.
This sums up the step-by-step process to make payment on your bills (insurance is the example here) via the AXS mobile app with the GrabPay MasterCard which has been topped up with funds from the UOB Absolute Cashback Card.
A month later, you should see the cashback credited into your UOB Absolute Cashback Card as shown in Diagram 6.
Pay Fines/Others On AXS
Payment of other bills such as your personal income taxes to IRAS should be the same exact procedure. Anyway, I have also not tried making payments for other categories on the AXS Mobile App such as
- Others – student course fees, condominium management fees
But I figured that the process would not be any different. For those who have done so, let me know if the same payment process can be replicated so that we score savings on them as well?
Constraints of using the GrabPay MasterCard
The full terms and conditions that explain the transaction limits for the GrabPay Card can be found on the Grab website. I have broadly summarised the important things to take note:
- There is a $5,000 top-up limit within a 24-hour period
- There are also spend limits of $5,000 (daily), $10,000 (calendar month), $30,000 (calendar year)
- $500 limit per eAXS/mAXS transaction. If your bill is bigger than this, you might have to pay the premiums in multiple tranches. For the record, I made 9 transactions in a single day.
In addition, do note that GrabReward points will not be awarded for AXS transactions.
Despite all the constraints outlined above, I am happy to operate within the parameters. As an example, for a $10,000 premium, the cashback earned would be $170. This is not too shabby for a 20-minute effort spread over 2 days. Without which, the usual conventional methods would have yielded zero cashback and hence no savings.
This is an example of putting my UOB Absolute Cashback Card to work to its maximum effect. If you would like to apply for a UOB Absolute Cashback Card as well, you can click on my referral link here and enjoy extra savings like I did. From 1- 30 Sep 2021, new cardmembers who apply via Heartland Boy’s link receive $30 cash in addition to the bank’s welcome bonus promotion.
Disclaimer: This article contains affiliate links which goes towards ensuring the sustainability of this blog.
Information is correct as at 29 August 2021
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any idea if uob absolute cashback works on SAM online payment for school fees? it’s 5.5k grab card capped. thanks in advance!
I went to take a look at SAM online (https://www.singpost.com/pay/education-bills) it accepts aAMEX, so it should work. good luck!
Hello Heartland Boy,
Just to share with you my experience, IRAS income tax and HDB mortgage does not allow deduction from GPMC. There is an error to mention that only debit card is accepted for this transaction although I chose Debit Card to input the GPMC number.
Did you go through the AXS Online/mobile app because I see it listed under the category of General?
Hi Heartland boy,
Yep, I did. It’s up till the payment page that it rejected the GPMC.
would it be better with uob1 via ipaymy/cardup for insurance? (~3% nett gain, assuming highest tier)
Yes, that would be a better option but the criteria will be harder to achieve- minimum $2,000 spend/month for consecutive 3 months.
Besides, I am not sure if payment to ipaymy qualifies for cashback under the uob1 card?
Can use AMEX true cashback card topup Grab wallet also. I think can earn 1.5% cashback.
Of course, that works too. I prefer Absolute since the cashback is marginally higher at 1.7%
Hi Heartland Boy,
I read your post with great interest, as I too have a an insurance payment (also with GE) coming up. Can I check-
(1) Does this payment method apply to second and subsequent premium payments? My insurance agent told me that my second and subsequent payments have to be via GIRO.
(2) I currently have a Standard Chartered Ultimate Cashback card. AXS transactions and insurance payments are not eligible for cashback. Would cashback work though if I sign up for a Grab mastercard, use the SC card to top up the Grab mastercard, and then use the Grab mastercard to pay via AXS?
Any advice is greatly appreciated!
1) Yes, the example that I showed is actually my 6th annual payment. It is not true that subsequent payments have to be GIRO. You can always leave that option “open”
2) Topping up the Grab mastercard with your SCB Unlimited cashback card will not entitle you to any cashback. The payment will still go through but you will not receive any cashback.
Heartland Boy – another great article!
For insurance premiums that have existing GIRO arrangements, would it be wise to maintain the GIRO as “back up” and attempt to pay the premiums before GIRO deductions? In case we forget to pay the premium (which leads to a lot of headache / penalties etc) via the above Grab Pay-AXS method, and still have the GIRO safety net to deduct when payment deadline comes. Not sure if there will be double deductions from the insurers through this strategy though…
Thanks for your compliments.
Yes, I would advise to retain the GIRO as backup. There shouldnt be double deductions
Did this still work recently? I got through once on 2 Oct. Tried again on 8 and 9 Oct, both failed.
I read on the forums that other users are also experiencing the same issue. you probably need to wait a while more for it to be resolved.
Hi heartland boy,
Great sharing indeed . Does UOB absolute cashback card gives 1.7% cashback for second and subsequent insurance payments ie does not go thru the grab wallet topup option
It should still give 1.7% cashback for subsequent insurance payments.
Since grabpay is only limited to 30000 a year. Can Singtel daddy wallet use to pay insurance, income tax and CPF. If can then can use more than 30k.
Does anyone know?
Hi Heartland boy,
Thanks for sharing! Can I check where do I see the 1.7% cashback in the UOB app? Can’t seem to see any cashback sign even after topping up my grabpay
Thanks in advance!
You can look for it under accounts > UOB Absolute Cashback > transactions. Note that cashback are posted a month later.
I have multiple insurance policies. I was wondering if there is a way I can set this card for recurring payment. And also grab pay has $30,000 annual spending limit which I am at 90%. So I was thinking if there is any other alternative beside this as AXS don’t accept this card directly.
I am not sure if it can be set up for recurring payments. Maybe other readers can share their own experiences?