SINGAPORE– American Express (AMEX) has confirmed that starting 30 September 2025, cardholders will no longer earn rewards for topping up stored value cards or digital wallets such as GrabPay (GRB) and ShopeePay.
The change affects all rewards-earning AMEX cards, including those offering cashback, Singapore Airlines KrisFlyer (SQ) miles, HighFlyer points, and Membership Rewards points. This update marks an expansion of AMEX’s existing exclusions list.

American Express to End Rewards
The update extends beyond previous rules. GrabPay top-ups were already excluded years ago: in March 2020 for KrisFlyer and Membership Rewards cards, and in April 2023 for the HighFlyer and True Cashback Cards.
From 30 September 2025, the exclusion will cover a wider scope of stored value facilities. The new wording in AMEX’s terms states that no rewards will be earned for:
- “Payments for the purpose of stored value card purchase / load / top–ups and/or the topping–up or loading of currency (or equivalent) for digital wallets, including but not limited to GrabPay and ShopeePay.”
This means customers who have been earning miles, points, or cashback through top-ups of other cards such as NETS FlashPay, Touch ‘n Go, or Suica will no longer be able to do so, Mile Lion reported.

Current Stored Value Options and Limitations
Until the change takes effect, several options remain technically eligible for rewards. However, each comes with its own limitations:
- NETS FlashPay: AMEX top-ups via the NETS app incur a S$0.50 fee per transaction and are capped at S$100 each, with a maximum of five top-ups daily. Top-ups at MRT stations avoid the fee.
- Touch ‘n Go: A 1% credit card top-up fee applies, along with a 3.25% foreign currency transaction fee. Occasional foreign currency promotions may offset costs.
- Suica: Similar restrictions apply, and usage is often limited to overseas travelers in Japan.
These drawbacks limit the value of such top-ups, and with the September 2025 exclusion, even these marginal benefits will disappear.

What Remains Eligible for Rewards
Not all prepaid or voucher purchases fall under the exclusion. For example, buying NTUC or Cold Storage vouchers will still earn AMEX rewards, since these are not categorized as stored value facilities.
Cardholders should also note that exclusions differ slightly depending on the AMEX product. For instance:
- AMEX Platinum Charge and AMEX Centurion Card continue to earn rewards on charitable donations and education payments.
- AMEX True Cashback Card still awards cashback on donations, utilities, and public hospital bills, though this may differ from KrisFlyer or Membership Rewards cards.
Common Exclusions Across AMEX Cards
While the full lists vary, the following are consistently excluded across most AMEX cards:
- Insurance premiums
- Charitable donations (with exceptions noted above)
- GrabPay top-ups
- Public hospitals
- Utilities bills
- SimplyGo payments
- Singapore Petroleum Company (SPC) transactions
- SingPost transactions
Certain government services and private hospital payments may still earn rewards, provided AMEX acceptance is available.

Bottom Line
From 30 September 2025, American Express will no longer grant rewards for any form of stored value or digital wallet top-up.
For cardholders who relied on these avenues for points or cashback, the window to maximise rewards is closing. Anyone with pending strategies should act before the cut-off date.
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