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Successful Credit Cards Used (Posted as Purchase, Visa info outdated)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)
Sep 9, 2018, 5:00 pm
#331
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
Sep 9, 2018, 5:03 pm
#332
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
How long does it take to receive the $500 referral free dollar after the $500 spending is made?
After the referral, the $500 was made and charged last night. Then the new member is to receive $500 and the referring member is to receive $1,000 no-fee spending.
After the referral, the $500 was made and charged last night. Then the new member is to receive $500 and the referring member is to receive $1,000 no-fee spending.
Sep 11, 2018, 9:08 am
#333
Join Date: Sep 2018
Posts: 2
First time considering Plastiq here..if my mortgage company is loaded in Plastiq’s site and it says it will lay in 2-3 business days, this means it for sure will post as an ACh transaction that quickly? Not sure how far in advance I should submit payment for it to post towards my normal mortgage payment.
Side note - this is going to be made through Citi TY Premier..this is still being accepted, correct?
Side note - this is going to be made through Citi TY Premier..this is still being accepted, correct?
Sep 11, 2018, 1:28 pm
#335
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
I realized Plastiq has a lot of technical issues.
With Masterpass, I set up with 3 banks with 3 MCs. But in Plastiq, only one is selected and I can't change it. Say, I have Masterpass with BA, City and Chase. Only Masterpass BA is available, hard-coded. I can't switch CCs. There is no pending or scheduled payments.
Plastiq still relied on paper check. This is just amazing....
With Masterpass, I set up with 3 banks with 3 MCs. But in Plastiq, only one is selected and I can't change it. Say, I have Masterpass with BA, City and Chase. Only Masterpass BA is available, hard-coded. I can't switch CCs. There is no pending or scheduled payments.
Plastiq still relied on paper check. This is just amazing....
Sep 12, 2018, 2:17 pm
#336
Join Date: Sep 2011
Location: SNA
Programs: AA EXP, Hilton Diamond, Hyatt Globalist, IHG Plat, Marriott Gold, National EE
Posts: 1,204
Too bad there is no effective alternative to Plastiq at a competitive price. If it were easy to run a company like Plastiq (and survive) I would expect a lot more competition. Since there's not a credible competitor, that leads me to believe that it's not easy to run a company like Plastiq.
Sep 12, 2018, 2:25 pm
#337
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
Too bad there is no effective alternative to Plastiq at a competitive price. If it were easy to run a company like Plastiq (and survive) I would expect a lot more competition. Since there's not a credible competitor, that leads me to believe that it's not easy to run a company like Plastiq.
Also, if the CC offers get worse, $$ payments will flow out of Plastiq....
Sep 12, 2018, 4:16 pm
#338
Join Date: Dec 2004
Location: SFO
Programs: BART Platinum, AA Plat Pro
Posts: 1,158
Hard to believe someone hasn't tried this yet, but:
- Huntington Business Voice card is a Mastercard that pays out 4% on "Utilities" up to $28k of spending per year
- Plastiq codes a lot of things as "UTILITIES..." on MC. Recent payments I've done on MC that code as such include 1040-ES, HOA dues, and housecleaner payments (i.e. pretty much everything I've paid through Plastiq other than mortgage).
Sep 12, 2018, 7:58 pm
#340
Join Date: Jul 2010
Location: PHL
Programs: Hyatt Globalist, Hilton Diamond, AA Gold, FB Gold, ITA Volare Executive
Posts: 3,294
Sep 12, 2018, 10:15 pm
#343
Join Date: Jan 2013
Programs: Hyatt Glb, MR Plat
Posts: 2,576
Sep 13, 2018, 9:11 pm
#344
Join Date: Sep 2011
Location: NYC
Programs: Delta Gold, SPG Gold, HHonors Gold, UA Gold (status match)
Posts: 777
Big problem over here. Rent payment (not recurring automatically though I generate the same payment monthly) sent out per plastiq email on august 23. My leasing office claims they only received it September 10th. I’m hoping they waive late fees since I tried to get in touch with them to see if they wanted a backup check and they were MIA for a week, but even though plastiq ‘guarantees’ delivery the guarantee doesn’t apply when the payment is mailed due to USPS delays.
Last edited by floridagal23; Sep 15, 2018 at 5:48 am
Sep 13, 2018, 9:30 pm
#345
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
Plastiq service has been really bad. I had a payment rejected and it was good before. I sent in the support materials and have not received any response for two days. So I had to send in payment from my bank since this caused several days' delay. Just awful....
