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Successful Credit Cards Used (Posted as Purchase, Visa info outdated)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)
May 19, 2018, 6:56 pm
#121
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,933
I've never used MasterPass, but I've heard it's MC's equivalent of Visa Checkout, and Visa Checkout let me set up an MC as my preferred Visa Checkout card, and it worked! (Well, it worked in the way that it took it. This was for a silly WyndhamRewards hotel program promo, where you would get bonus points for reserving using Visa Checkout, but since i was reserving non-prepaid stays, I had to present the card at check-in anyhow. So I guess I really only used Visa Checkout with that MC to secure my reservation, not actually pay for it.)
May 19, 2018, 7:01 pm
#122
Join Date: Mar 2011
Location: SAN
Programs: Delta Gold. Hilton Diamond. Hyatt Explorist.
Posts: 1,674
Do you actually have to use an MC with MasterPass?
I've never used MasterPass, but I've heard it's MC's equivalent of Visa Checkout, and Visa Checkout let me set up an MC as my preferred Visa Checkout card, and it worked! (Well, it worked in the way that it took it. This was for a silly WyndhamRewards hotel program promo, where you would get bonus points for reserving using Visa Checkout, but since i was reserving non-prepaid stays, I had to present the card at check-in anyhow. So I guess I really only used Visa Checkout with that MC to secure my reservation, not actually pay for it.)
I've never used MasterPass, but I've heard it's MC's equivalent of Visa Checkout, and Visa Checkout let me set up an MC as my preferred Visa Checkout card, and it worked! (Well, it worked in the way that it took it. This was for a silly WyndhamRewards hotel program promo, where you would get bonus points for reserving using Visa Checkout, but since i was reserving non-prepaid stays, I had to present the card at check-in anyhow. So I guess I really only used Visa Checkout with that MC to secure my reservation, not actually pay for it.)
May 20, 2018, 9:28 am
#123
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
I just received an email from Plastiq - no fee when paying up $500 using MasterPass.
Scheduling payments starting 5/15/2018 through 9/30/2018.
I tried and it works - it's actually UP TO $500 fee free, so if you have a payment in excess of $500, only the portion over $500 gets the standard fee charged.
Not sure if this is targeted - I didn't have to enter a promo code or anything - it just worked automatically.
Scheduling payments starting 5/15/2018 through 9/30/2018.
I tried and it works - it's actually UP TO $500 fee free, so if you have a payment in excess of $500, only the portion over $500 gets the standard fee charged.
Not sure if this is targeted - I didn't have to enter a promo code or anything - it just worked automatically.
I'll only use Plastiq if I'll have to complete some SUBs quickly. Its 2.5% fee is very high. It is not good for normal MSing. I'll keep the MS fee at 1% and no more than 1.5%.
And we rarely see Plastiq promotions. They want to get the most they can. I've been trying to stay away from them.
May 20, 2018, 10:31 am
#124
Join Date: Aug 2000
Location: Chicago Burbs
Programs: SPG Gold, Hyatt Diamond
Posts: 223
Mine are college payments, so I doubt they would complain about 10-20 ~$500 checks like a landlord or other private party might.
May 20, 2018, 12:01 pm
#125
Join Date: Mar 2011
Location: SAN
Programs: Delta Gold. Hilton Diamond. Hyatt Explorist.
Posts: 1,674
Yeah I scheduled a bunch of payments that will happen well into the future to lock in the lack of fees. I'm speculating that as long as the fee-free payment is scheduled now, it will be honored even if they change the terms.
May 20, 2018, 9:55 pm
#126
Join Date: Oct 2006
Location: Long Beach, CA
Programs: AA PLTPRO, HH Diamond, IHG Plat, Marriott Plat, Hyatt Globalist
Posts: 3,559
$500 is close to useless.
I'll only use Plastiq if I'll have to complete some SUBs quickly. Its 2.5% fee is very high. It is not good for normal MSing. I'll keep the MS fee at 1% and no more than 1.5%.
And we rarely see Plastiq promotions. They want to get the most they can. I've been trying to stay away from them.
I'll only use Plastiq if I'll have to complete some SUBs quickly. Its 2.5% fee is very high. It is not good for normal MSing. I'll keep the MS fee at 1% and no more than 1.5%.
And we rarely see Plastiq promotions. They want to get the most they can. I've been trying to stay away from them.
May 21, 2018, 5:26 pm
#127
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
May 21, 2018, 5:36 pm
#128
Join Date: Jan 2014
Location: TYS/BNA/ATL
Programs: UR, TYP, MR, C1, AA, UA, WN, BA, AS, AV, AC, Choice, Hyatt, IHG, Hilton, Wyndham, Marriott
Posts: 1,973
Do you actually have to use an MC with MasterPass?
I've never used MasterPass, but I've heard it's MC's equivalent of Visa Checkout, and Visa Checkout let me set up an MC as my preferred Visa Checkout card, and it worked! (Well, it worked in the way that it took it. This was for a silly WyndhamRewards hotel program promo, where you would get bonus points for reserving using Visa Checkout, but since i was reserving non-prepaid stays, I had to present the card at check-in anyhow. So I guess I really only used Visa Checkout with that MC to secure my reservation, not actually pay for it.)
I've never used MasterPass, but I've heard it's MC's equivalent of Visa Checkout, and Visa Checkout let me set up an MC as my preferred Visa Checkout card, and it worked! (Well, it worked in the way that it took it. This was for a silly WyndhamRewards hotel program promo, where you would get bonus points for reserving using Visa Checkout, but since i was reserving non-prepaid stays, I had to present the card at check-in anyhow. So I guess I really only used Visa Checkout with that MC to secure my reservation, not actually pay for it.)
May 21, 2018, 10:40 pm
#129
Join Date: Jan 2013
Programs: Hyatt Glb, MR Plat
Posts: 2,577
May 21, 2018, 10:52 pm
#130
Join Date: Aug 2000
Location: Chicago Burbs
Programs: SPG Gold, Hyatt Diamond
Posts: 223
I used my CitiDC MC. I don't have any cards that I'd want to use with MasterPass issuers, even if they were Visa. There's a full list at https://masterpass.com/en-us/featured-issuers.html. My focus is Amex SPG for unbonused spend and CitiDC when I'm not using other 5x VGC options.
May 22, 2018, 9:10 am
#131
Join Date: Dec 2004
Location: SFO
Programs: BART Platinum, AA Plat Pro
Posts: 1,158
May 24, 2018, 1:55 am
#132
Join Date: May 2006
Location: KSNA/KLAX
Programs: IML GOLD, Bonvoy LTPE, WOH Globalist, AAEXPLT
Posts: 645
$500 is close to useless.
I'll only use Plastiq if I'll have to complete some SUBs quickly. Its 2.5% fee is very high. It is not good for normal MSing. I'll keep the MS fee at 1% and no more than 1.5%.
And we rarely see Plastiq promotions. They want to get the most they can. I've been trying to stay away from them.
I'll only use Plastiq if I'll have to complete some SUBs quickly. Its 2.5% fee is very high. It is not good for normal MSing. I'll keep the MS fee at 1% and no more than 1.5%.
And we rarely see Plastiq promotions. They want to get the most they can. I've been trying to stay away from them.
For work we've got vendors that are "paper check only" so I really wonder how many can be pushed thru before they put the brakes on. Also got the car, and house payments so maybe there will be a lot of TYP coming in the next few months
May 25, 2018, 2:39 pm
#134
Join Date: Mar 2015
Posts: 484
Got an email from Plastiq this morning. If the Masterpass promotion is worth it to you, might want to jump on it immediately.
Due to the high demand for our latest promotion, conducted in partnership with Mastercard, we wanted to give you advance notice of an upcoming update. Starting June 1, 2018, the promotion will apply to any bill or invoice, up to a maximum of $250 each, instead of $500.*
If you’ve already scheduled payments with this promotion, we will still honor the promotional fee applied to those payments. But please note that editing these scheduled payments will result in a loss of the promotional fee.
If you haven’t taken advantage of this promotion yet, this is your time to do so! Don’t forget to make sure the payment is delivered by September 30, 2018 to qualify.
Please reach out to us if you have any questions.
Best,
The Plastiq Team
If you’ve already scheduled payments with this promotion, we will still honor the promotional fee applied to those payments. But please note that editing these scheduled payments will result in a loss of the promotional fee.
If you haven’t taken advantage of this promotion yet, this is your time to do so! Don’t forget to make sure the payment is delivered by September 30, 2018 to qualify.
Please reach out to us if you have any questions.
Best,
The Plastiq Team