Link up your Citibank, DBS or POSB credit card with your EZ-Pay account to automate payments for your ERP charges.
You may have heard that DBS and POSB Credit cards can now be used for ERP payments, joining Citibank in expanding the payment types you can charge to your card.
Don’t worry, you’re not being asked to leave your credit card inside your In-vehicle Unit (IU) to be scanned every time you drive under an ERP gantry.
Not only is this dangerous (hello, increased insurance premiums thanks to repeated windscreen smashings!) but it’s also impractical. What if you forget to take your credit card out from your car? Are you going to have to starve for the day?
Thankfully, the solution is much more elegant and sensible. You can now link an EZ-Pay account to your credit card, which lets your ERP charges be directly charged to that card.
Best of all, this works even without inserting a stored value card in your IU.
Never again will you have to worry about getting fined (up to S$10, plus the ERP charge you owe) for neglecting to insert a cashcard with sufficient value in your IU before you start driving!
Sounds Great, Where Do I Sign Up?
To get started, all you have to do is to sign up on EZ-Link’s homepage, respond to the verification SMS, and await notification about the start date of your EZ-Pay account.
Once Your EZ-Pay account has been set up, you can finally stop panicking at the sight of an ERP gantry, reducing unnecessary accidents for you and your fellow drivers. (Not that accidents are ever necessary, but you know what we mean.)
Ok, But What Do I Do With All These Cashcards I Bought?
You can still continue to use your Cashcards in your IU to pay for ERP charges as per normal.
Once your Cashcard runs out of value (or doesn’t have enough), the ERP fees will be automatically charged to your credit card. Now that’s how you make a seamless transition.
Cool. Which Credit Cards Can I Use For EZ-Pay?
For the moment, you can set up your EZ-Pay account on any Mastercard or Visa credit card issued by Citibank, DBS or POSB.
To make your credit card even more useful, and help you save money, try pairing your EZ-Pay account with a credit card that gives you cashback when you spend on daily essentials.
We suggest the Citi Cash Back Visa Card, which gives up to 20.88% savings on petrol at Shell and Esso, and 8% savings at all other petrol stations – very useful for car drivers. But that’s not all. This card also entitles you to 8% rebates on dining and groceries, providing savings at every stage of your weekend grocery shopping-cum-dinner trip.
Need another reason to sign up for one? How about this: apply by 31 Mar 2017 and receive a S$100 NTUC voucher exclusively from SingSaver.com.sg!
Read This Next:
How to Save Money Buying Used Cars in Singapore
Why the COE Fails at Discouraging Singaporeans from Driving
By Alevin Chan
A Certified Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimise happiness and enjoyment in his life.
The post Avoid ERP Fines By Linking Your Credit Card to EZ-Pay appeared first on Financial News and Advice in Singapore.