RewardPay Review - The Definitive New Zealand Guide
If you want to earn free business and first class flights by paying IRD and ACC bills with an American Express card, RewardPay is the first (and only) service in New Zealand to offer this. Our guide explains the costs, pros and cons, key facts and frequently asked questions
- RewardPay is a service that lets you pay the IRD and ACC with an American Express credit card. As the IRD and ACC only accept Visa and Mastercard Debit and Credit Cards via myIR, RewardPay gives business owners with an American Express card the option to use it to pay ongoing IRD and ACC bills following a very similar process.
- RewardPay is suitable for business owners who want to earn rewards (specifically American Express Reward Points) by using their card for IRD and ACC expenses instead of bank transfers (or using a Visa or Mastercard debit or credit card).
- RewardPay charges a fee to the payer (e.g. person making the payment), which adds to the total cost of the transaction. This is 1.67% for IRD payments and 1.99% for ACC payments. However, as these amounts are pre-tax, the after-tax costs (and arguably true out-of-pocket) for IRD and ACC payments fall to as low as 1.01% and 1.21% (for 39% PAYE earners, and 1.43% and 1.20% (for companies paying 28% tax on profit).
- Know This: Whether or not you use RewardPay will depend on how useful and valuable Membership Reward Points are to you.