Zipmex Card fees, limits and rewards
The fees and limits set out below apply to Zipmex Card and are applicable as of: 19 April 2022
Refer to the Zipmex Debit Card Terms for explanation and definitions.
Supported Digital Assets
You can currently spend the digital assets below that have balances in your Z Wallet. We are working on expanding this list in the future.
- Zipmex Token (ZMT)
- Bitcoin (BTC)
- Ethereum (ETH)
Fees
All fees are applicable unless otherwise specified.
| Transaction type | Fees | Rebates |
|---|---|---|
| Annual fee | $0 | |
| Replacement card | $45 SGD for every card | |
| Cryptocurrency conversion fee | Conversion rate may vary depending on liquidity and availability at the time of purchase. | |
| International transactions* | 2% | VIP 4 users will receive 100% rebate on International transaction fees paid back in ZMT on the 1st day of every month. |
| Refund processing fee | 3% All refunds will be credited back in ZMT minus the refund processing fee. Disputes and Chargebacks will not be charged a refund processing fee. | |
| ATM cash withdrawals | Currently not available | |
| International ATM cash withdrawals | Currently not available |
*Zipmex Card is issued by PayrNet Pte. Ltd. (UEN: 201913150C) which is exempt from holding a license by the Monetary Authority of Singapore (MAS) pursuant to the Payment Services (Exemption for Specified Period) Regulations 2019. To comply with this license exemption there may be limitations applied that restrict the usage of the card. Currently Zipmex Card can be used for domestic Singapore transactions only. Upon a license being granted Zipmex may be able to open up international usage of the card and will notify all customers of the changes.
Limits
| Type | Limit |
|---|---|
| Daily Spending Limit | $5,000 SGD |
| Annual Spending Limit | $30,000 SGD |
| Pre-authorisation (such as hotels and car rentals) | Currently not available |
| ATM withdrawal limit | Currently not available |
Rewards
Users will earn rewards in ZMT based on their monthly spend and Zipmex VIP tier. All completed transactions within any given month will be eligible to receive a percentage back in ZMT rewards. Rewards will be paid out on the 1st day of every month and based on the previous month’s completed transactions.
| Tier | VIP 0 | VIP 1 | VIP 2 | VIP 3 | VIP 4 |
|---|---|---|---|---|---|
| VIP Criteria | – | Buy and lock 100 ZMT Get 12% APY | Buy and lock 1,000 ZMT Get 12% APY | Buy and lock 5,000 ZMT Get 12% APY | Buy and lock 20,000 ZMT Get 12% APY |
| Zipmex Card Rewards | 0.5% | 1% | 2% | 3% | 4% |
Refer to the Zipmex Debit Card Terms for more details on Rewards.