Jan 1, 2018, 10:40 am
Last edit by: ericdabbs
Updated Dec-2023 (Plastiq Policy URL links do not work when clicked directly from FT. Copy links to address bar to view)
Visa Card Policy
https://support.plastiq.com/s/article/Visa-Card-Policy
American Express Card Policy
https://support.plastiq.com/s/article/American-Express-Card-Policy
Summary of Supported Payments by Card Brand
https://support.plastiq.com/s/article/supported-payments-by-card-brand
Official word from Plastiq regarding Visa Business cards that was asked which was previously thought it applied to only Visa Personal cards
Plastiq is unable to support mortgage payments on any Visa credit cards. This is an industry-wide mandate that affects all third-party bill payment services. Please note that mortgage payments are also unsupported for credit cards issued by U.S. Bank or Capital One and AMEX.
Plastiq Fees:
Standard Plastiq card payment processing fee is 2.9%. This puts most of the credit cards out of the reward range. Plastiq turns itself into a niche position to earn new card bonus or status threshold. Some CCs may still work.
It makes most of the reward programs not profitable. Use Plastiq to meet welcome bonus spending requirement or to meet certain spend requirements to reach elite status or for large spend bonus. Also take advantage of Plastiq referrals and promotions.
Delivery Fees (The Plastiq Ch. 11 restructure now added some delivery fees):
ACH/EFT/Electronic $0.99
Paper Check $1.49
Wire Transfer: Domestic/International $8.99/$39
This is the thread for 2018 and forward. The previous discussion can be found here.
Updated Nov-2018: A lot of the personal Visa CCs can't be used at Plastiq. Some will be treated as cash advance and won't receive any rewards. Only Capital One personal Visa CCs are not affected. Business Visa CCs are still good. The best CCs are Mastercard and Discover. AmEx CCs can still be used, but not on many of the payment types. Chase personal Visa cards are limited to the cash advance limit (typically 20% of CL). The details are listed as below:
Plastiq Referrals:
Standard Referral: When you refer your friend to Plastiq, after your friend charges $500 or more, your friend will get$500 ($0?) FFDs (fee free dollar) and you'll receive $1,000 ($100) FFDs to spend.
All personal prepaid Gift Cards (GCs) are disallowed. Not sure what "business" gift card can be used.
Successful Credit Cards Used (Posted as Purchase, Visa info outdated)
Note that Plastiq no longer accepts American Express for any transactions as of 2/10/23.
Amex Blue Business Plus
Amex Open SPG Business
AMEX SPG (non-business)
AMEX Delta business
AMEX business platinum and business gold (Canadian)
BofA - Amtrak World MC
BofA - Business Advantage Travel Rewards MC
BofA - Virgin Atlantic MC
Barclaycard Aviator Red/Silver MC
Barclaycard Arrival World MC
Chase Ink Cash Visa
Chase Ink Plus Visa
Chase Ink Preferred Visa
Chase Hyatt Visa (x2)
Chase BA Visa
Chase United MileagePlus Explorer
Chase United MileagePlus Club
Chase Sapphire Preferred (should give 2x, similar to CSR -- probably expired as of 6/5/17)
Chase Sapphire Reserve (3x, coded as travel -- this appears to have expired as of 6/5/17)
Citi Prestige MC
Citi Premier MC
Citi AT&T Access More MC (3x for rent category, misc. government services)
Citi AA Platinum MC
FIA Fidelity Mastercard
US Bank Altitude Reserve Visa
Successful Payees:
AAA (Socal, Santa Ana) insurance: Electronic payment: Processed 5/21 (Sunday), Complete 5/23, Arrived-Posted 5/26
ACS: took about 2 weeks to post
BMW Financial: Processed 10/13, Sent 10/14, Arrived-Posted 10/19
Caliber Home Loans: Processed 12/09, Sent 12/11, Arrived-Posted 12/18
Cedent mortgage
Chase Mortgage (sends check): 2 week turnaround
Citi Mortgage: Electronic - less than 1 week turnaround as of May 2017
Citizen's Auto Finance - Around 1 week.
CRA Personal Tax & GST/HST remittances
Firstmark Services (student loan, electronically remitted)
Fidelity Bank (Mortgage) https://www.fidelitybank.com/ks/Home.aspx
Flagstar Bank (Mortgage), electronic payment, posts in 2-3 days.
George Mason University: Over a week and a half.
Infiniti Financial: Processed 10/13, Sent 10/14, Arrived-Posted 10/21
Lexus Financial. Processed 3/9/16, Posted 3/14/19
Morgan Stanley Home Loans: Processed 01/14, Sent 01/15, Arrived-Posted 01/21
NA Shade & Associates LLC
National Grid Electric MA: 1 week turnaround
National Grid Gas MA: 3 week turnaround, sends physical check
Nationstar Mortgage, electionic payment, post in 2-3 days.
New York Community Bank (NYCB) Mortgage: check mailed by Plastiq 4/27, posted 5/1.
NewRez Mortgage, Sent 9/20 Arrived 9/30
"NJ City" Tax: Processed 01/21, Sent 01/22, Arrived-Posted 02/01
Penfed Mortgage: 1 week turnaround
PennyMac Mortgage: 1-1.5wk turnaround
SCE (So Cal Edison)
SoCal gas
TCF Mortgage: 1.5 week turnaround
TD Bank Mortgage (EFT)
Toyota Financial
Wawanesa USA Insurance
Wells Fargo Mortgage: Processed 10/8, Sent 10/9, Arrived-Posted 10/16
Wells Fargo Mortgage: Processed 8/6, Sent 8/9, Posted 8/16
Restrictions:
New VISA payments are not being accepted for mortgages.
*Visa Gift Card by Blackhawk does not seem to be working
Visa Card Policy
https://support.plastiq.com/s/article/Visa-Card-Policy
American Express Card Policy
https://support.plastiq.com/s/article/American-Express-Card-Policy
Summary of Supported Payments by Card Brand
https://support.plastiq.com/s/article/supported-payments-by-card-brand
Official word from Plastiq regarding Visa Business cards that was asked which was previously thought it applied to only Visa Personal cards
Plastiq is unable to support mortgage payments on any Visa credit cards. This is an industry-wide mandate that affects all third-party bill payment services. Please note that mortgage payments are also unsupported for credit cards issued by U.S. Bank or Capital One and AMEX.
Plastiq Fees:
Standard Plastiq card payment processing fee is 2.9%. This puts most of the credit cards out of the reward range. Plastiq turns itself into a niche position to earn new card bonus or status threshold. Some CCs may still work.
It makes most of the reward programs not profitable. Use Plastiq to meet welcome bonus spending requirement or to meet certain spend requirements to reach elite status or for large spend bonus. Also take advantage of Plastiq referrals and promotions.
Delivery Fees (The Plastiq Ch. 11 restructure now added some delivery fees):
ACH/EFT/Electronic $0.99
Paper Check $1.49
Wire Transfer: Domestic/International $8.99/$39
This is the thread for 2018 and forward. The previous discussion can be found here.
Updated Nov-2018: A lot of the personal Visa CCs can't be used at Plastiq. Some will be treated as cash advance and won't receive any rewards. Only Capital One personal Visa CCs are not affected. Business Visa CCs are still good. The best CCs are Mastercard and Discover. AmEx CCs can still be used, but not on many of the payment types. Chase personal Visa cards are limited to the cash advance limit (typically 20% of CL). The details are listed as below:
Plastiq Referrals:
Standard Referral: When you refer your friend to Plastiq, after your friend charges $500 or more, your friend will get
All personal prepaid Gift Cards (GCs) are disallowed. Not sure what "business" gift card can be used.
Successful Credit Cards Used (Posted as Purchase, Visa info outdated)
Note that Plastiq no longer accepts American Express for any transactions as of 2/10/23.
Amex Blue Business Plus
Amex Open SPG Business
AMEX SPG (non-business)
AMEX Delta business
AMEX business platinum and business gold (Canadian)
BofA - Amtrak World MC
BofA - Business Advantage Travel Rewards MC
BofA - Virgin Atlantic MC
Barclaycard Aviator Red/Silver MC
Barclaycard Arrival World MC
Chase Ink Cash Visa
Chase Ink Plus Visa
Chase Ink Preferred Visa
Chase Hyatt Visa (x2)
Chase BA Visa
Chase United MileagePlus Explorer
Chase United MileagePlus Club
Chase Sapphire Preferred (should give 2x, similar to CSR -- probably expired as of 6/5/17)
Chase Sapphire Reserve (3x, coded as travel -- this appears to have expired as of 6/5/17)
Citi Prestige MC
Citi Premier MC
Citi AT&T Access More MC (3x for rent category, misc. government services)
Citi AA Platinum MC
FIA Fidelity Mastercard
US Bank Altitude Reserve Visa
Successful Payees:
AAA (Socal, Santa Ana) insurance: Electronic payment: Processed 5/21 (Sunday), Complete 5/23, Arrived-Posted 5/26
ACS: took about 2 weeks to post
BMW Financial: Processed 10/13, Sent 10/14, Arrived-Posted 10/19
Caliber Home Loans: Processed 12/09, Sent 12/11, Arrived-Posted 12/18
Cedent mortgage
Chase Mortgage (sends check): 2 week turnaround
Citi Mortgage: Electronic - less than 1 week turnaround as of May 2017
Citizen's Auto Finance - Around 1 week.
CRA Personal Tax & GST/HST remittances
Firstmark Services (student loan, electronically remitted)
Fidelity Bank (Mortgage) https://www.fidelitybank.com/ks/Home.aspx
Flagstar Bank (Mortgage), electronic payment, posts in 2-3 days.
George Mason University: Over a week and a half.
Infiniti Financial: Processed 10/13, Sent 10/14, Arrived-Posted 10/21
Lexus Financial. Processed 3/9/16, Posted 3/14/19
Morgan Stanley Home Loans: Processed 01/14, Sent 01/15, Arrived-Posted 01/21
NA Shade & Associates LLC
National Grid Electric MA: 1 week turnaround
National Grid Gas MA: 3 week turnaround, sends physical check
Nationstar Mortgage, electionic payment, post in 2-3 days.
New York Community Bank (NYCB) Mortgage: check mailed by Plastiq 4/27, posted 5/1.
NewRez Mortgage, Sent 9/20 Arrived 9/30
"NJ City" Tax: Processed 01/21, Sent 01/22, Arrived-Posted 02/01
Penfed Mortgage: 1 week turnaround
PennyMac Mortgage: 1-1.5wk turnaround
SCE (So Cal Edison)
SoCal gas
TCF Mortgage: 1.5 week turnaround
TD Bank Mortgage (EFT)
Toyota Financial
Wawanesa USA Insurance
Wells Fargo Mortgage: Processed 10/8, Sent 10/9, Arrived-Posted 10/16
Wells Fargo Mortgage: Processed 8/6, Sent 8/9, Posted 8/16
Restrictions:
New VISA payments are not being accepted for mortgages.
*Visa Gift Card by Blackhawk does not seem to be working
Plastiq for rent, tuition, utilities, etc.(2018 onwards)
Jun 5, 2018, 9:45 am
#151
Join Date: Sep 2012
Posts: 4,431
I already scheduled 2 months of mortgage payments (for July 1 and Aug 1) using my Prestige card (which earns 1x) in $500 increments. But today I called Citi retention and was given an offer for an extra 2x (up to 35K extra points) on my Preferred card. Any reason I should NOT just cancel my Prestige $500 payments and just slam my bank with $250 payments? I've paid my mortgage using $200 and $500 gift card payments using Plastiq before in the past so I know the bank is able to figure it out.
Jun 5, 2018, 1:47 pm
#152
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,932
If you read the table carefully, it says "Citi Thank You Premier (Visa only)". Citi years ago used to issue many Visa cards, but in recent years has switched almost excluslively to MC. So it's possible that someone who's had a Premier from many years ago might have a Premier Visa, which would be affected, but anyone who got a CIti TYP Premier in the last few years liikely has a Premier MC, which is not affected.
Jun 5, 2018, 1:52 pm
#153
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,932
heads up, anyone that has any cards listed as cash advance, you've been warned - https://plastiq.zendesk.com/hc/en-us...s/360005215254
I would suggest anyone worried about cash advance, who never wants to use their card for a cash advance anyway, call up their bank and lower the cash advance to the lowest it can be. How low that is varies a lot from bank to bank.
Jun 5, 2018, 4:51 pm
#154
Join Date: Sep 2011
Location: SNA
Programs: AA EXP, Hilton Diamond, Hyatt Globalist, IHG Plat, Marriott Gold, National EE
Posts: 1,204
I already scheduled 2 months of mortgage payments (for July 1 and Aug 1) using my Prestige card (which earns 1x) in $500 increments. But today I called Citi retention and was given an offer for an extra 2x (up to 35K extra points) on my Preferred card. Any reason I should NOT just cancel my Prestige $500 payments and just slam my bank with $250 payments? I've paid my mortgage using $200 and $500 gift card payments using Plastiq before in the past so I know the bank is able to figure it out.
Jun 5, 2018, 5:49 pm
#155
Join Date: Sep 2012
Posts: 4,431
But you bring up a good point.
Jun 5, 2018, 8:55 pm
#156
Suspended
Join Date: Sep 2014
Posts: 350
Used to do that with BPs at wally's that way I could identify if needbe
Jun 6, 2018, 7:47 am
#157
Join Date: Jul 2014
Posts: 369
Interesting. It says that for Chase cards it's limited to 20% of your CL, rather than being cash advance. But just to be sure, I looked at the cash advance limit on my Chase Marriott Visa card (where I'm currently doing minimum spend for the signup bonus), and it was 20% of my overall credit limit. I called up Chase and they were able to lower the cash advance credit limit to $100. Since the payment I'm going to make in a week or so on Plastiq with that Chase Marriott Visa card is going to be $600ish, it should either clear if it's indeed 20% of my overall credit limit (since that's well over $10k), or get rejected if they try to process it as a cash advance.
I would suggest anyone worried about cash advance, who never wants to use their card for a cash advance anyway, call up their bank and lower the cash advance to the lowest it can be. How low that is varies a lot from bank to bank.
I would suggest anyone worried about cash advance, who never wants to use their card for a cash advance anyway, call up their bank and lower the cash advance to the lowest it can be. How low that is varies a lot from bank to bank.
Jun 6, 2018, 8:00 am
#158
Join Date: Mar 2011
Location: SAN
Programs: Delta Gold. Hilton Diamond. Hyatt Explorist.
Posts: 1,672
Officially there is nothing to stop you. But I suspect Plastiq will shut you down if you make too many consecutive $250 payments to the same biller.
Jun 6, 2018, 9:47 am
#159
Join Date: Feb 2017
Posts: 95
I did 10 payments of 500 each (2 payments per day for five days) before May 31. All went through. My guess is that MasterCard (MasterPass) has been footing the bill for the fees so Plastiq is probably - emphasis probably - does not care much. This is probably why they basically encouraged people to do as much payments as they could before May 31 in an email in which they announced changes to the promotion.
Jun 6, 2018, 10:04 am
#160
Join Date: Jun 2018
Posts: 1
Does anyone have experience with Metabank VGCs with Plastiq recently? I tried using them after the cash advance change (June 1) and all my payments are declined.
Plastiq points that their system is fine, but I think Metabank is blocked as well.
Plastiq points that their system is fine, but I think Metabank is blocked as well.
Jun 6, 2018, 1:44 pm
#162
Join Date: Sep 2011
Location: SNA
Programs: AA EXP, Hilton Diamond, Hyatt Globalist, IHG Plat, Marriott Gold, National EE
Posts: 1,204
Hassle, 2x change of lost payments, and most importantly, unable to pay bills in the $250-500 range where it is undesirable (for whatever reason) to have multiple payments. There are some vendors where I'd rather eat a 2.5% fee than save money for relationship purposes (e.g. my attorney).
Jun 6, 2018, 8:20 pm
#163
Suspended
Join Date: Mar 2013
Posts: 465
Hassle, 2x change of lost payments, and most importantly, unable to pay bills in the $250-500 range where it is undesirable (for whatever reason) to have multiple payments. There are some vendors where I'd rather eat a 2.5% fee than save money for relationship purposes (e.g. my attorney).
Jun 7, 2018, 8:51 am
#164
Join Date: May 2018
Posts: 23
Not working for me either.