$5 Fave Credit for Subscribing to SingSaver Newsletter via Fave - Overview of Fave
Disclaimer: This post contains a referral to sign up to use FAVE. This promotional code allows you to get $3 off your first transaction via FAVE. This promotional code must be used to register. In return, I will get $2 FAVE credit. The promotional code is FAVEWAYNE109 and can be applied after signing up, or you can click on the link above.
[Update] 4 July 2018 13:45:
- I have successfully received my $5 Fave Credit. I don't know when exactly it was added to my account, but it has an expiry of 30 July 2018
- I didn't mention this in my post below, but just a side tip - you can use the same Fave app in Malaysia. App will automatically change everything to the local currency for you
- Added a Deal Rating
$5 Fave Credit for Subscribing to SingSaver Newsletter via Fave
Deal Rating: 8/10 - A very versatile deal which provides you with a reasonably long enough time to use the free $5 credit (30 July 2018)
Here's a pretty easy deal which does not require much effort. I first spotted this deal on Cheapcheaplah.
Get $5 Fave Credit simply for subscribing to the SingSaver Newsletter using the promo code "SIGNUP" through Fave. Subscribing to the newsletter costs $0 with or without the SIGNUP promo code, but you have to use the SIGNUP code to get the $5 FAVE credit which does not get credited to your account immediately.
Over on Cheapcheaplah, they included a pretty succinct 5-step method of completing this. I'll paste it over here:
- Click on ‘BUY NOW’, and apply ‘SIGNUP’ in the Promo Code section when you checkout.
- Only purchases made using the ‘SIGNUP’ promo code will be eligible for the $5 Fave credits.
- SingSaver will send you an email to register for their newsletter.
- Open the SingSaver newsletter in your inbox.
- $5 Fave credits will be credited to your Fave Wallet 3 days after you sign up for the SingSaver newsletter.
Fave Credit is useful as it can be used at any merchant that accepts Fave. I've personally found that merchants accepting FavePay are quite widespread.
What is Fave?
Fave is what Groupon in Singapore has actually evolved into. For those familiar with the concept of Groupon/Scoopon in Australia (and I presume in other countries), this concept still exists within Fave. That is, you buy a "voucher" upfront that gives you the option of obtaining more than what you paid in the form of food, desserts, services, etc.
A simple example is you buy a voucher for $50 that allows you to have $100 to spend in credit at McDonald's.
However, Fave has a separate mechanism within the app which also operates side by side along the "Groupon" concept. This concept is similar to AliPay, GrabPay, WeChat Pay, or StudentPal. You link a credit card to your account which operates as your funding card to pay for any transactions made through Fave.
Effectively, it works as follows:
- Eating at a restaurant that accepts FavePay? Add a payment method (credit card) to your account
- Ready to pay the bill? Go to the cashier and say "I wish to pay by Fave"
- Scan a QR code that the merchant usually has around the cash counter for Fave Pay payments
- Enter the amount payable - that is, the total bill
- Your credit card will be deducted for the total bill, minus the value of any promotional codes that are applicable
Personally, I like the QR code payment side of Fave. The advantage of this over paying by card regularly direct to the merchant is that you also earn varying amounts of cashback (between 5-25%) via the Fave app.
Important: The cashback you earn is often specific to the merchant. For example, if you spend $10 at Subway earning you 10% cashback, you'll have $1 in cashback to spend next time you spend at (any) Subway.
Tip for Minimising the amount of "leftover" Cashback you have lying around in Fave
To avoid having small random amounts of cashback specific to a merchant sitting in your Fave account, here's a tip I have.
Say for example, the scenario is as follows:
- Ordered $70 worth of food over 10 items
- Each item costs $7
- Merchant offers 10% cashback
- Ask for the bill to split into 9x $7 and 1x $7
- The $63 transaction will earn you $6.30 cashback
- You then use this $6.30 cashback to fund the last $7 item you haven't paid for yet, leaving you with $0.70 to pay "out of pocket".
- What (should) matter to the merchant is that they've been paid $70 - and whether you pay $63 + $7, $60 + $10 should not matter to them
- This is as opposed to paying $70 upfront and having $7 in cashback for next time
- Not all merchants/cashiers are willing to do this. They may say something along the lines of "it's too messy", or "it's too complicated", or they may not understand. Don't be too pushy. If they don't allow it then they don't allow it, but you can try and explain and understand why.
- It may help to try and ask them to do this at the time of ordering to save confusion. That way, when it comes time to actually paying, you would be paying for 2 separate bills.
What are your experiences with Fave so far? Feel free to comment below!