frekwentflier

I've sent multiple mortgage payments using AGCs and Plastiq over the past few months. They've all arrived in less than 2 weeks, usually 10-12 days.

However you may want to read up on the AGC thread since it appears AGC is dead (hopefully temporarily).

frekwentflier

I just received a confirmation email from Chase mortgage that my 2 Plastiq payments have been processed. So the timeline is:

8/14: Submitted payments on Plastiq using AGC.
8/19: Received "check mailed" notification email from Plastiq
8/23: Received payment processed email from Chase.

So 9 days total, including 4 weekend days. Not bad at all!

joscofra

I didn't see any reference to this on the Plastiq website. Where can I read more details about this? thanks.

Irish80

Read it on millionmiles blog. To get more info I'd suggest you email them from their site after you log in. They've been pretty good in responding to me w/in 24 hours

joscofra

thanks, got more info, but doesn't seem worth it as the 0% is only for the payments scheduled during the promotional period and the amounts aren't great enough to warrant the hassle and very long payment times.

swirlsaepi

Data point:

8/11: Payment submitted on Plastiq using my SPG Amex. Payment & 1.99% fee were immediately charged (thanks to Amex text alerts for non-physical transactions)
8/12: Check mailed by Plastiq
8/17: Payment processed by Quicken Loans

This was my September mortgage payment. I intentionally paid it roughly three weeks ahead of time in the event it wouldn't go through very fast.

I'm quite pleased. I will continue to use Plastiq's services.

concordian

I used it yesterday using FMs link. Scheduled 12 payments for Power & Water. Let's see how soon Plastiq mails the checks.

Sintaku

Data point.
8/7 - Paid with Citi mastercard.
8/11 - Plastiq had posted the payment.
Recipient has yet to receive the check, they normally immediately cash it electronically.
No change since then. Before the payment posted I spoke to a plastiq chat person since the address line is long and the person said it will go fine. I feel like this is the problem. Emailed plastiq and been over 24 hours. They haven't got back to me. Bad first experience for me...

FreakingFlyer

I thought my mortgage payments all showed up.

Well, I was reading my insane mortgage statement wrong. Only one showed up. Not the three I sent. It's been a week since the one showed up.

Plastiq hasn't responded to me.

Fun!

mberlew

A word of caution based on my experience attempting to pay my mortgage via EFT. Citimortgage gave me wiring instructions and requested to put “Payment: Last Name, Account Number” in the memo field. Plastiq only allows 15 characters in the memo field, so I decided to give it a go with only my account number.

August 5 - Payment submitted August 5.

August 11 - Plastiq updates status to “Your payment is now complete. Citimortgage, Inc. has received your payment electronically.”

August 25 – Citimortgage website still not showing payment. Message with Plastiq Support. They confirm the wire payment was made. At Citimortgage suggestion, I request the EFT receipt from Plastiq Support. At this point, I am not doubting that the payment was received by Citi, I’m assuming that they didn’t have enough information to process it and apply it to my account. Plastiq Support submits a ticket to their funding department to research and send me the EFT receipt.

August 26 – Get email from Plastiq Support saying “I am writing to let you know that your payment to Citimortgage, Inc. has failed. We tried to deliver the funds as your instructed and the bank sent the money back to us with a failed notice saying CREDIT REFUSED BY RECEIVER. We are going to refund your payment back to your card. Please note the speed of the refund depends on the speed of your bank so it can take 3-5 business days for you to see the refund. If you need to make this payment, please try again but first contact the payee and make sure you have the correct bank transfer information before you resubmit or select Check and we will mail the payment to them. Please let me know if there is anything else I can help you with. Miguel D \ Member Services”

First off, I’m a big fan of the potential of the company. Their support team has been responsive and polite (if not fully in the know). And I’m grateful that they have agreed to refund the service fee as well, as they could have claimed they tried and it was my fault the payment didn’t go through. All that said, the whole process has been disappointing. They shouldn’t have given me confirmation that the payment was complete on August 11 if it was rejected. Even if that slipped through the cracks, the burden shouldn’t have been on me to follow up two weeks later to request proof of the EFT for them to see that the payment did not go through. Furthermore, they shouldn’t have confirmed on my August 25 chat that the payment was complete when it obviously wasn’t.

mberlew

Follow-up to prior post. I just now received clarification from Miguel at Platiq Support that the rejection notice was received Aug 25 evening and was unrelated to my Aug 25 inquiry. Seems very coincidental but i'll take their word for it. So now my hesitation in using them is isolated to the fact that my mortgage company requires certain information to be included with the payment in order to accept/post, and 15 characters allowed by Plastiq is not enough to get that done.

swirlsaepi

Instead of doing the EFT and having those types of wiring issues, why not just go the traditional route and have Plastiq mail them a check?

mberlew

Had I known I'd have this many difficulties with EFT, I probably would have done so. My logic at the time for preferring EFT over check was 1) should theoretically be a lot quicker, 2) no chance of getting lost in the mail, 3) easier to track if things go wrong.

In fact, Citi could have rejected a check payment too for insufficient information, but in that case I wouldn't have been able to demand a receipt from Plastiq. I could still be sitting here not knowing where my check is, whether Plastiq sent it, whether Citi received it but hasn't processed it, etc.

All that said, now that I know EFT doesn't work, I may just try to pay by check - haven't made up my mind whether to give them another shot or throw in the towel.

snic

My experience: schedule payment to a company that has provided me with a service on 8/15. Still no evidence that a check has been sent by 8/21, so I sent Plastiq a message via the "chat" feature (when it was not being staffed; it said I'd receive an answer the next day). Never received an answer. On 8/26, get an e-mail saying the check has been sent (this is 11 days after they charged my card). Today, I get an e-mail, apparently not in response to my inquiry but rather a mass e-mail, apologizing for a technical issue that has been causing a delay.

Except, I remember reading in this thread that someone received a similar explanation for a long payment delay due to a technical issue, but that was before I even signed up for Plastiq. I assume that if they knew about the technical issue, they'd have fixed it by the time I signed up and made my first payment.

So are 11 day "technical issues" just the way Plastiq works? Take your money and earn interest on it for 1.5 weeks?

powerup25

I made a few car payments, I chatted the day after with plastiq to make sure that I shouldn't get in trouble like I other people had, they said everything is ok the checks will be shipped the other day. Today 4 days later, on a weekend. I get a e-mail saying they I need to verify some information, if I they don't get in 48 hours they are refunding the money. Now my car payments will be late. They are so baddddd, I wished I follow the warning from the other people on the forum and stayed faaaar away from them.