Wise vs amaze (November 2026): Which Travel Card Should You Use in Singapore?
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Wise and amaze both get you out of the 3.25% foreign currency fee that Singapore banks charge when you spend overseas. That is where the similarity ends.
Wise is a multi-currency account. You convert at the mid-market rate, hold 40+ currencies and send money to other countries cheaply. amaze is a card that sits in front of your credit card, so you keep earning miles or cashback on overseas spend, or a prepaid wallet with 0% FX markup.
Both companies have written their own comparison, and each one picks itself. Instarem’s article calls amaze “the better everyday choice”. Wise’s compares itself with amaze and YouTrip. This one is independent: I use both, and I checked every fee against each company’s own pages on 31 October 2026.
Short answer: use amaze Link for overseas card spending when your credit card still earns rewards on it, and Wise for overseas transfers, holding foreign currency and receiving money. Many people in Singapore carry both.
Wise vs amaze at a Glance
| Wise | amaze | |
|---|---|---|
| What it is | Multi-currency account and debit card | Card that links to your Mastercard, plus a prepaid wallet |
| Run by | Wise Asia-Pacific Pte. Ltd. | Nium Pte. Ltd. (Instarem) |
| MAS licence | Major Payment Institution, PS20200413 | Major Payment Institution, PS20200276 |
| Currencies you can hold | 40+ | 11 in the amaze Wallet |
| Card spend FX | Mid-market rate plus a conversion fee, from 0.26% | Wallet: 0% FX markup. Link: FX spread up to 2.1% |
| Fee on SGD spend | None | Link: 1%, minimum S$0.50. Wallet: none |
| Overseas ATM | First S$100 a month free, then 1.75% | 2%, up to S$1,000 a day |
| Card cost | Free (express delivery from S$16) | Free |
| Rewards | None | Wallet: 0.5 InstaPoints per S$1. Link: your credit card’s rewards |
| Overseas transfers | Yes, the core product | Yes, through Instarem, to 60+ countries |
| Local account details | Yes, receive money like a local in several currencies | No |
| Sign-up offer (Nov 2026) | Fee-free transfer up to S$900, or a free card | 2,000 InstaPoints (S$25) with a referral code |
Fees from Wise’s Singapore card fees page and Instarem’s amaze fees FAQ, checked 31 October 2026.
How Wise and amaze Work
Wise: Convert and Hold Currencies at the Mid-Market Rate
You top up your Wise account in SGD by PayNow or bank transfer, for free. You can convert to another currency ahead of a trip, or let the card convert at the moment you pay. Either way, Wise uses the mid-market rate and shows its fee separately before you confirm.
Wise also gives you local account details for several currencies, so you can be paid in USD, GBP or EUR like a local. In Singapore you can hold up to S$20,000 across your Wise balances.
amaze: Two Modes in One Card
amaze lives inside the Instarem app and has two modes:
- amaze Link: you link up to five Mastercard credit or debit cards. When you spend in a foreign currency, amaze converts it and charges your card in SGD. Your bank sees a Singapore dollar transaction, so it doesn’t add its 3.25% foreign currency fee, and you still earn your card’s miles or cashback.
- amaze Wallet: a prepaid wallet you top up by PayNow or a linked bank account. It holds 11 currencies (SGD, EUR, USD, JPY, THB, GBP, AUD, CHF, NZD, CAD and MYR), charges 0% FX markup on foreign currency spend and earns InstaPoints.
Fees Compared
Spending Overseas
Wise converts at the mid-market rate and adds a conversion fee that depends on the currency. Wise’s own Singapore blog puts it from 0.26%. If you already hold the currency, for example yen you converted earlier, card spend in it costs nothing extra.
amaze Wallet has 0% FX markup on foreign currency spend, according to Instarem. You see the rate before you spend.
amaze Link charges an FX spread of up to 2.1%, which Instarem compares with banks’ FX fees of up to 3.5%. That is the price of keeping your credit card’s rewards.
Spending in Singapore Dollars
Wise charges nothing for SGD card spend.
amaze charges 1% (minimum S$0.50) on SGD spend through a linked card. A S$20 MRT top-up costs S$0.50 extra, and a S$300 grocery shop costs S$3. Spending from the amaze Wallet avoids the fee. Don’t make amaze Link your default card at home.
Overseas ATM Withdrawals
| Wise | amaze | |
|---|---|---|
| Free allowance | First S$100 a month | None |
| Fee after that | 1.75% of the amount above S$100 | 2% of the withdrawal |
| Limit | Set in the app | S$1,000 a day |
| ATMs in Singapore | Not available | Not available |
Wise is cheaper for small withdrawals. Neither card withdraws cash at ATMs in Singapore.
Card and Top-Up Fees
| Fee | Wise | amaze |
|---|---|---|
| Card order | Free | Free |
| Annual fee | None | None |
| Replacement | S$4 (expired cards free) | Free |
| PayNow / bank top-up | Free | Free |
| Other top-ups | Card top-up fee shown before you pay | Apple Pay 1.5%, minimum S$0.50 |
| Topping up other e-wallets | 2% | No InstaPoints on these |
Example: S$1,000 Spent in Japan
Here is roughly what S$1,000 of yen card spending costs each way. The Wise fee is an estimate, since it varies by currency and day.
| Option | FX cost (approx.) | What you earn | Best for |
|---|---|---|---|
| amaze Link + Citi Rewards | Up to S$21 (2.1% spread) | Up to 4,000 miles, if the spend qualifies | Miles collectors |
| amaze Wallet | About S$0 (0% markup) | 500 InstaPoints, about S$6 as cashback | Lowest cost with a small reward |
| Wise card | About S$3–5 (0.26%+ conversion fee) | Nothing | Lowest cost without thinking about points |
| Typical bank card | About S$32.50 (3.25% FX fee) | Your card’s overseas earn rate | Not recommended |
The Citi Rewards figure is from MainlyMiles: amaze spend codes as an online transaction, so it can earn 4 miles per dollar on the first S$1,000 per statement month, as long as it isn’t a travel-related merchant. At up to S$21 for 4,000 miles, that is about half a cent a mile. Check which cards still earn on amaze before you rely on it: The MileLion reported in August 2026 that DBS, POSB, DCS and UOB cards no longer give rewards on amaze transactions.
Rewards: amaze Wins, Wise Doesn’t Try
Wise has no rewards programme. It competes on price instead.
amaze has two routes to rewards:
- amaze Link: you earn your linked credit card’s rewards. amaze Link spend doesn’t earn InstaPoints.
- amaze Wallet: you earn 0.5 InstaPoints per S$1, with no cap. Foreign currency transactions under S$10 don’t earn.
InstaPoints can be redeemed as cashback (1,000 points = S$5; 2,000 points = S$25, once per calendar month), as KrisFlyer miles (3 points = 1 mile, minimum 1,200 points) or as S$25 off an overseas transfer above S$1,000. They expire 12 months after they are credited. The 2,000-point tier works out to a 0.63% rebate on Wallet spend.
Overseas Transfers: Wise’s Home Ground
If you send money overseas, Wise is the stronger choice. It sends to 140+ countries at the mid-market rate with a fee shown upfront, and it’s built for large one-off payments such as tuition or a property deposit.
Instarem, amaze’s parent, also sends money abroad, to 60+ countries. Its fees and rates are shown in the app before you confirm. Instarem’s pitch is the referral and InstaPoints perks: a transfer above S$1,000 can qualify a new user for the 2,000 InstaPoints referral reward, and 2,000 InstaPoints give S$25 off a later transfer above S$1,000.
Compare both quotes in the apps on the day you send. For most corridors, Wise’s quote is the one to beat.
Sign-Up Bonuses Compared (November 2026)
| Wise | amaze | |
|---|---|---|
| How to claim | Sign up through a referral link | Enter a referral code at sign-up |
| Reward | Fee-free transfer up to S$900, or a free card | 2,000 InstaPoints (S$25) with a friend’s code; 1,000 (S$5) with AMAZE25 |
| What you must do | Use the fee-free transfer within 6 months | Spend over S$100 on amaze, or send one transfer above S$1,000, within 1 year |
| Late add | Within 30 days of signing up | Not possible after sign-up |
| Extra in November | No Singapore campaign running | Travel More: 6X InstaPoints, 1–15 Nov, up to 2,000 extra |
amaze’s sign-up reward is worth more in cash terms. Wise’s fee-free transfer saves you Wise’s fee on your first transfer, which is usually a few dollars, not S$900. You can take both, since they are different companies.
- → Get the amaze referral code JxU1zN (2,000 InstaPoints, S$25)
- → Get the Wise referral link (fee-free transfer up to S$900)
For every live offer this month, see my amaze promo and Wise promo pages.
Safety and Regulation
Both are licensed by the Monetary Authority of Singapore as Major Payment Institutions: Wise Asia-Pacific Pte. Ltd. (licence PS20200413) and Nium Pte. Ltd., which runs Instarem and amaze (licence PS20200276).
Neither is a bank. Money in a Wise account or the amaze Wallet is not a bank deposit, so SDIC deposit insurance does not apply. Wise says customer money is safeguarded in segregated accounts at DBS and OCBC. Keep your savings in the bank and use these for travel money and transfers.
What About YouTrip?
YouTrip is the third card people compare. It’s a prepaid multi-currency wallet with no fee on SGD spend and a larger free ATM allowance than Wise, according to Wise’s own comparison. It doesn’t let you keep credit card rewards the way amaze Link does. See my YouTrip promo page for its current offers.
Which Should You Use?
Choose amaze if:
- You have a Mastercard credit card that still earns rewards on amaze, such as Citi Rewards, and want miles on overseas spend.
- You want a prepaid travel wallet with 0% FX markup that also earns a small reward.
- You will only use it for foreign currency, never for SGD spend through a linked card.
Choose Wise if:
- You send money overseas, or get paid in a foreign currency.
- You want to hold many currencies and convert ahead of a trip at the mid-market rate.
- You want one card with no fee on SGD spend and a free monthly ATM allowance abroad.
Use both if you travel and also send money abroad. That’s what I do: amaze Link with a miles card for spending, Wise for transfers and cash.
For more detail on each, read my amaze card review and Wise Singapore review.
Frequently Asked Questions
Is Wise or amaze better in Singapore?
It depends on what you use it for. amaze is better for overseas card spending if you want to keep earning credit card rewards, and its Wallet has 0% FX markup. Wise is better for overseas transfers, holding 40+ currencies, receiving money from abroad and SGD spending without a fee.
Which is cheaper for spending overseas, Wise or amaze?
The amaze Wallet has 0% FX markup, so it’s usually the cheapest. Wise adds a conversion fee from 0.26%, depending on the currency. amaze Link costs the most, with an FX spread of up to 2.1%, but it lets you earn your credit card’s miles or cashback.
Does amaze charge a fee on SGD spending?
Yes. amaze charges 1% (minimum S$0.50) on SGD spending through a linked card. Spending from the amaze Wallet has no fee. Wise doesn’t charge a fee on SGD card spending.
Can I use Wise and amaze together?
Yes. They are separate companies, so you can sign up for both and claim both sign-up offers. A common setup is amaze Link with a miles credit card for overseas spending, and Wise for transfers and holding foreign currency.
Can I link my Wise card to amaze?
amaze Link only accepts Mastercard cards, and some cards and banks are excluded. Linking a prepaid or multi-currency card adds a layer of FX conversion without a reward, so it rarely makes sense. Use each card on its own.
Which has a better sign-up bonus, Wise or amaze?
amaze’s referral code gives 2,000 InstaPoints, worth S$25, after over S$100 of amaze spend or a transfer above S$1,000 within a year. Wise’s referral link gives a fee-free transfer of up to S$900, which saves Wise’s fee on your first transfer, usually a few dollars.
Are Wise and amaze safe?
Both are licensed by MAS as Major Payment Institutions. Neither is a bank, so balances are not covered by SDIC deposit insurance.
Final Verdict
Wise and amaze solve different problems, so the best answer for most people in Singapore is both.
- Overseas spending with miles: amaze Link with a card that still earns.
- Cheapest overseas spending: amaze Wallet or Wise.
- Overseas transfers and holding currencies: Wise.
- SGD spending at home: neither. Use your normal card.
Sign up with the referral offers before you start, since amaze’s code can’t be added later and Wise’s link only works within 30 days.
→ amaze referral code JxU1zN · → Wise referral link
Which do you take on your trips: Wise, amaze or both? Tell me in the comments.
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