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Successful Credit Cards Used (Posted as Purchase, Visa info outdated)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)
Nov 14, 2018, 7:58 pm
#406
Join Date: Jul 2014
Posts: 369
The first time you do it, keep paying the monthly rent directly. Once your landlord cashes it, do not pay the next rent check. You will get an e-mail once it is cashed. Plastiq is very inconsistent, especially with new accounts and new payees. My reocuriing payments are usually 7 business days from when its sent. But I have seen it take much longer. It could happen from either end, plastiq or the landlord or just the mail being slow.
Nov 18, 2018, 7:53 pm
#407
Join Date: Jul 2010
Posts: 106
It worked out better since I don't have to worry about the check not delivered on time.
Hope this helps someone.
Nov 19, 2018, 1:37 pm
#408
Join Date: Jun 2014
Posts: 290
Apparently Plastiq raised a $27m VC round today at 2x their last valuation: https://techcrunch.com/2018/11/19/pa...h-credit-card/
I can't for the life of me understand how they could be making money with the added chargeback fraud risk they take on and given how much of that 2.5% fee they incur they must be paying out to the networks (Visa/MC/Amex).
I can't for the life of me understand how they could be making money with the added chargeback fraud risk they take on and given how much of that 2.5% fee they incur they must be paying out to the networks (Visa/MC/Amex).
Nov 19, 2018, 2:02 pm
#409
Join Date: Jan 2013
Programs: Hyatt Glb, MR Plat
Posts: 2,577
Apparently Plastiq raised a $27m VC round today at 2x their last valuation: https://techcrunch.com/2018/11/19/pa...h-credit-card/
I can't for the life of me understand how they could be making money with the added chargeback fraud risk they take on and given how much of that 2.5% fee they incur they must be paying out to the networks (Visa/MC/Amex).
I can't for the life of me understand how they could be making money with the added chargeback fraud risk they take on and given how much of that 2.5% fee they incur they must be paying out to the networks (Visa/MC/Amex).
Nov 19, 2018, 11:07 pm
#411
Join Date: Sep 2011
Location: SNA
Programs: AA EXP, Hilton Diamond, Hyatt Globalist, IHG Plat, Marriott Gold, National EE
Posts: 1,204
Apparently Plastiq raised a $27m VC round today at 2x their last valuation: https://techcrunch.com/2018/11/19/pa...h-credit-card/
I can't for the life of me understand how they could be making money with the added chargeback fraud risk they take on and given how much of that 2.5% fee they incur they must be paying out to the networks (Visa/MC/Amex).
I can't for the life of me understand how they could be making money with the added chargeback fraud risk they take on and given how much of that 2.5% fee they incur they must be paying out to the networks (Visa/MC/Amex).
Nov 22, 2018, 12:46 pm
#412
Join Date: Apr 2007
Posts: 1,857
I've heard some people were less than pleased with Plastiq's customer service, so I felt the need to share this. I got an email today confirming that my mortgage payment had been processed... with the wrong credit card. Turns out it was my fault - I thought I had switched it to another card, but I had actually never even added that card to my account.
Today's Thanksgiving, so I sent a support email, hoping there may be some chance I'd hear back before Monday. I heard back from them in 6 minutes. Within 6 minutes, they had voided the transaction and written me back to confirm that I could re-run it on the correct card. 6 minutes. On Thanksgiving day. I'm extremely impressed.
Now I'm sure that probably just means that their support is just sitting there today, bored, because who's going to call/write Plastiq on Thanksgiving? But whatever it is, that's the fastest response I've gotten from any support in a long time, even on a regular day.
Today's Thanksgiving, so I sent a support email, hoping there may be some chance I'd hear back before Monday. I heard back from them in 6 minutes. Within 6 minutes, they had voided the transaction and written me back to confirm that I could re-run it on the correct card. 6 minutes. On Thanksgiving day. I'm extremely impressed.
Now I'm sure that probably just means that their support is just sitting there today, bored, because who's going to call/write Plastiq on Thanksgiving? But whatever it is, that's the fastest response I've gotten from any support in a long time, even on a regular day.
Nov 24, 2018, 9:01 am
#413
Join Date: Sep 2005
Location: Columbia, SC
Programs: AA Plat, SPG/Marriot Gold, HHonors Diamond, Hyatt Expl
Posts: 2,363
I've heard some people were less than pleased with Plastiq's customer service, so I felt the need to share this. I got an email today confirming that my mortgage payment had been processed... with the wrong credit card. Turns out it was my fault - I thought I had switched it to another card, but I had actually never even added that card to my account.
Today's Thanksgiving, so I sent a support email, hoping there may be some chance I'd hear back before Monday. I heard back from them in 6 minutes. Within 6 minutes, they had voided the transaction and written me back to confirm that I could re-run it on the correct card. 6 minutes. On Thanksgiving day. I'm extremely impressed.
Now I'm sure that probably just means that their support is just sitting there today, bored, because who's going to call/write Plastiq on Thanksgiving? But whatever it is, that's the fastest response I've gotten from any support in a long time, even on a regular day.
Today's Thanksgiving, so I sent a support email, hoping there may be some chance I'd hear back before Monday. I heard back from them in 6 minutes. Within 6 minutes, they had voided the transaction and written me back to confirm that I could re-run it on the correct card. 6 minutes. On Thanksgiving day. I'm extremely impressed.
Now I'm sure that probably just means that their support is just sitting there today, bored, because who's going to call/write Plastiq on Thanksgiving? But whatever it is, that's the fastest response I've gotten from any support in a long time, even on a regular day.
Nov 26, 2018, 8:05 am
#414
Join Date: Jul 2010
Location: PHL
Programs: Hyatt Globalist, Hilton Diamond, AA Gold, FB Gold, ITA Volare Executive
Posts: 3,294
RedSun, if I am reading your edit to the Wiki correctly, we are now unable to use Chase Visa cards at all -- that is, not even up to our Cash Advance limiti? I ask because the Plastiq site still shows that we can (seems to have been updated a month ago), and I don't see anything about this in the comments to this DoC thread.
Nov 26, 2018, 8:34 am
#415
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
RedSun, if I am reading your edit to the Wiki correctly, we are now unable to use Chase Visa cards at all -- that is, not even up to our Cash Advance limiti? I ask because the Plastiq site still shows that we can (seems to have been updated a month ago), and I don't see anything about this in the comments to this DoC thread.
https://help.plastiq.com/hc/en-us/ar...l-Card-Changes
Wiki has been updated. From Chase, go to card "details" and you can see the "Cash Advance" section for info, like below:
If you see available for CA, say, $2,000, then you can pay up to $2,000 at Plastiq. If you've scheduled $500, then it should say $1,500 available out of $2k. The available CA will fall back to CA limit after the payment is made. Hope this is clear.
Last edited by RedSun; Nov 26, 2018 at 8:43 am
Dec 3, 2018, 5:26 am
#420
Join Date: Aug 2012
Location: BOS/MHT/PVD/BDL
Programs: Belong to Many but No Longer Loyal to Any
Posts: 880