Tax Payment Promos 2025: Buy Miles/Get Cashback With These CardUp and ipaymy Promo Codes

Paying the taxman? Payment services CardUp and ipaymy have promo codes for you to save on fees. This way, you get to buy miles cheaper and/or have more net cashback for your contributions to nation-building.

New User Promos

Both services offer tax payment promo codes that work for existing users. If you’re a new user, you should take advantage of the new user promo first before making use of those promo codes after you become an existing user.

The new user promo code can be used for any payment type, which means you can use it for payments like school fees, insurance, mortgage etc. while the promo codes for existing users are only for tax payments to IRAS.

Refer to my guide on these services for more information.

Existing User Promo Codes (For Tax)

For existing users, both platforms are offering a reduced fee of 1.75% for tax payments made to IRAS.

Service	Code	Cards	Details
CardUp	SETHTAX25R	Visa UnionPay	Reduced fee of 1.75% for recurring tax payments
ipaymy	TAX2025	Visa UnionPay	Reduced fee of 1.75% for one-time or recurring tax payment
ipaymy	TAX199	Mastercard Amex	Reduced fee of 1.99% for one-time tax payment

Calculating the cost per mile or cashback earned

To figure out the approximate cashback rate you’d get, you can simply take the cashback earn rate of your card and subtract the service fee. For instance, if you are using Maybank Platinum Visa which gives 3.33%, you can get an estimated 1.58% cashback (3.33% cashback – 1.75% fee) if your service fee is 1.75%.

For the approximate cost per mile, you can take the service fee divided by the miles per dollar earn rate of your card. For instance, DBS Vantage offers 1.5 miles per dollar on such transactions, which means you get a cost per mile of about 1.17 cents per mile if your service fee is 1.75%.

In practice, your net rewards will be higher because the fee itself generates rewards.

Cost Per Mile

Here is what you can expect your cost per mile to be for various cards and fees. I consider a cost per mile of 1.5 cents and under to be a good deal.

Earn Rate	Card(s)	Cost Per Mile (1.75% service fee)	Cost Per Mile (1.79% service fee)	Cost Per Mile (1.99% service fee)
1.6 miles per dollar	DBS Insignia, Citi Ultima	1.08¢	1.10¢	1.22¢
1.5 miles per dollar	DBS Vantage	1.15¢	1.17¢	1.30¢
1.4 miles per dollar	UOB PRVI	1.23¢	1.26¢	1.40¢
1.3 miles per dollar	Citi Prestige, DBS Altitude, OCBC 90°N	1.32¢	1.35¢	1.50¢
1.2 miles per dollar	Citi PremierMiles, StanChart Journey	1.43¢	1.47¢	1.63¢

Cashback Cards to Use

Here are cards to consider if you prefer cashback. Obviously, the earn rate should be significantly higher than the fees paid:

Card	Cashback Rate	Remarks
OCBC FRANK	8% cashback (capped at S$25 for online)	Min spend of S$800 within the month with S$25 max cashback on online transactions (3.125% effective cashback if used solely online)
DCS Flex	6% cashback (capped at S$25 for online)	Min. spend of S$600 within the month with S$25 max cashback on online transactions (4.16% effective cashback if used solely online) Note: will not work for ipaymy from 1st June 2025
Maybank Platinum Visa	3.33% cashback	Min spend of S$300, S$1,000 or $2,000 per quarter Note: will not work for CardUp from 1st July 2025
StanChart Manhattan (Discontinued)	3% cashback	Min spend of S$3,000 within the month. This card is no longer open to new applicants

Get additional 1% cashback by paying your credit card with HSBC EGA

For HSBC EGA accountholders, it is possible to get an additional 1% cashback when pay off their credit card bill. This of course can significantly decrease the cost per mile (except for Chocolate Card, which cannot be put on GIRO) or increase the amount of cashback received.

To do so, place your credit card on GIRO payment with your HSBC EGA. You will also need to fulfil the conditions of Everyday+ Rewards Programme which is to transfer in at least S$2,000 of funds (S$5,000 for Premier customers), and make at least 5 transactions (debit, credit, or even FAST/PayNow transfer) within the month.

Alternate CardUp promo for new users: 1.55% fee for OCBC cardholders

OCBC 90°N cardholders who are new to CardUp can also get a better deal with a reduced fee of 1.55% for their first transaction of up to S$10,000. With an earn rate of 1.3 miles per dollar, that works out to a cost per mile of 1.18 cents each. The promo code to use is OCBC90NMC for OCBC 90°N Mastercard and OCBC90NV for the Visa version.

OCBC VOYAGE (for those with S$120,000 annual requirement) & OCBC Premier Visa (for OCBC Premier Banking customers) Infinite cardholders can get the same 1.55% fee for their first transaction up to S$20,000. With an earn rate of 1.6 miles per dollar, this is a cost of 0.95 cents per mile. The code to use is OCBC155.

While attractive, it would probably be wiser and more convenient to stick to cards you already have points with. Getting OCBC 90°N, for instance, just for this promo will result in having to incur more conversion fees versus just sticking to say your UOB PRVI Miles card and earning points that pool with your UOB Preferred Platinum Visa.

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This year is a pretty odd year for income tax payment promos. Not only is the promo for Citi PayAll conspicuously absent, UOB has interestingly enough offered a pretty compelling tax payment promo of its own. I intend to do a piece on what I’m going to do with my own income tax payment, so stay tuned for that.

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H/T: Milelion for OCBC promos

Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.

He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.

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