Multi Currency Cards
SG Budget Babe
Asked on 05 Dec 2019
Grab just released their Grabpay card, any thoughts on the card? What are the perks (if there are any) and is it worth looking into?
Grabpay Card is good to get because it allows you to Top up into YOUTRIP (for now).
Youtrip can function as a physical mastercard and as an EZ link card. This means you can use the youtrip card to pay for most of your expenditure at stores and EZ link; while yet getting outsized cash rebates and airmiles for topping into grabpay
Secondly the grabpay card itself allows you to pay for online mobile bills and purchases. On top of it, it earns you equivalent airmiles at 1.8+ miles per dollar (for platinum members) or about 1.5% cashback in grab credits for rides.
It's awesome for me (for now). I love the UOB x Grab promo, I am currently paying for my wedding and this gets me like 10% rebate, nothing else comes close. I also get a huge chunk of Grab points!
Do take note to check if the card you are using for Grab top up is eligible for rebates (most have excluded it).
GrabPay MAstercard is nice!
You can top up grabpay with UOB One card and enjoy the points in UOB One card, and then when you spend on GrabPay Mastercard, you enjoy the GrabPay rewards too.
And there are always good grab promotions, like special coupons for rides or special pricing for durians or bubble tea on GrabFood. :D
I can't say that I love the design of the card, but I appreciate that it's Asia's first numberless card.
I like the various functions too:
Free mobile phone protection coverage if they pay for their monthly mobile bills using the GrabPay Card
Complimentary e-commerce purchase protection for their online shopping
Because the card is tied to the GrayPay wallet, customers can set a budget for spending by capping the wallet top-up each month
Overall very good card as you can earn GrabRewards, take MRT/Bus, pay for pretty much everything except for stores that only accept NETS. Wish they would have include NETS function, this will make it much better.
I've been using the digital version, already signed up for the physical card. With the digital card, I've been able to enjoy some perks out of it because of the promotions with UOB One; I can earn points doing online shopping using Grabpay while clocking eligible transactions (with extra cashback) for UOB One and indirectly top up to my YouTrip too. With the physical card, it means I can tap onto this double dip at physical stores too.
I've tested on a couple of multi currency cards and grabpay card allows you to top up not only YouTrip but other multicurrency cards as well (for now). No, grab rewards when you top up to YouTrip using Grabpay unlike topping up to my Wirex account which gives me grabrewards (for now).
We are all aware that we can use either our Visa or mastercard as an Ezlink card. Unlike other cards, I get cryptoback (similar to getting cashback since you can convert the crypto to traditional currency in-app) for every in-store transaction with my Wirex card.
The rates are great and it's the perfect travel companion for me. Wirex is a Visa card therefore, it is accepted at more than 54m locations with free ATM withdrawals worldwide (cap at a limit, of course).
I actually think it's good, and the clear benefit essentially is that it allows you to spend your GrabPay balance anywhere Mastercard is accepted. This means your GrabPay balance becomes a lot more liquid- you can’t cash it out to a bank account, but you can spend it at any of the 53 million merchants worldwide which accept Mastercard.
If you are into the Grab ecosystem, e.g. take grab rides, food delivery, then it may be an useful consideration. This is because you can exchange for various perks from the grab rewards points.
If you are not into the Grab ecosystem, then it is probably worth waiting for a while more to see what it entails. The last thing to do is to put all the time and energy into it but only to realise it is a waste.
Personally, I am wary of it while staying curious on its potential.
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