Singapore – American Express (AMEX) has announced that from September 30, 2025, cardholders will no longer earn rewards when topping up stored value cards or digital wallets like Grabpay and Shopeepay.
This change impacts all types of Amex cards that provide rewards, including those that offer cashback, Singapore Airlines Krisflyer miles, High Flyer Points, and Membership Reward Points. It’s an extension of the existing exclusions in Amex’s policies.
American Express to End Rewards
This move marks a broader revision than previous rules. For instance, Grabpay top-ups were excluded a few years back, while Krisflyer and Membership Rewards cards lost their rewards eligibility back in March 2020, and Highflyer and True Cashback cards followed suit in April 2023.
Starting in 2025, the exclusions will encompass a wider array of stored value services. The new terms clarify that rewards will not be earned on:
- “Purchase/Load/Top-Up and/or Toppings – or payments intended for toppings or loads (or equivalents) in a digital wallet.”
This means customers could still earn miles, points, or cashback through top-ups to other cards like Nets FlashPay, Touch’n Go, and Suica, as reported by Mile Lion.
Current Stored Value Options and Limitations
Some options technically remain eligible for rewards until the changes take effect, though each comes with its own limits.
- Nets FlashPay: Topping up through the NETS app incurs a fee of S$0.50 per transaction, allowing up to five top-ups daily, capped at S$100 each. Topping up at MRT stations avoids these fees.
- Touch ‘n Go: A 1% fee is charged for credit card top-ups, along with a 3.25% foreign currency transaction fee, though occasional promotions may offset these costs.
- Watermelon: Similar limitations apply, and this option tends to be primarily for travelers in Japan.
These constraints undermine the value of top-ups, and with the new exclusions in September 2025, even this minimal benefit will vanish.
What is Eligible for Rewards
Not all prepaid or voucher purchases are ruled out. For example, buying NTUC or Cold Storage vouchers will still earn Amex rewards, as they’re not considered stored value facilities.
Cardholders should also note that exclusions can vary a bit based on the specific AMEX product. For instance:
- AMEX Platinum Charge and Amex Centurion Card: Rewards for charitable contributions and education payments will still apply.
- Amex True Cashback Card: Cashback on donations, utility bills, and public hospital expenses will remain available, though this may differ from Krisflyer or Membership Reward cards.
General Exclusions for All AMEX Cards
The complete list of exclusions can vary, but several are consistently excluded across most AMEX cards.
- Insurance fees
- Charitable donations (with exceptions noted)
- Top-ups for Glove Pay
- Public hospital payments
- Utility bills
- Simply Pay transactions
- Transactions with Singapore Petroleum Company (SPC)
- Transactions with SingPost
However, if AMEX is accepted, certain government services and private hospital payments might still accrue rewards.
Conclusion
As of September 30, 2025, American Express will no longer offer any rewards for topping up stored value or digital wallet services.
This change signals an end for cardholders who relied on these methods for accumulating points or cashback. If anyone has plans in mind, it might be wise to act before the cutoff date.
