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Successful Credit Cards Used (Posted as Purchase, Visa info outdated)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)
Aug 31, 2018, 12:33 pm
#316
Join Date: Jul 2016
Posts: 13
Having massive issues with Plastiq of late. Twice now, payments made with Chase VISA cards (also one with Citi Mastercard), were accepted and within 24 hours I get the "We want to look into this payment further" emails, requesting copies of invoices, vendor website, etc. First one was for me paying my book keeper her fees, and the 2nd one was for paying my daughter's apartment rent at college. Meanwhile I'm getting emails from what appears to be a Plastiq "Private Client Representative" trying to court more business from our company to pay through Plastiq. If it is this hard for simple and relatively small (ie. < $2000) transactions, they are not viable. I can (barely) understand the AMEX issues, but VISA? And now Mastercard? Is this a business on life support?
Aug 31, 2018, 12:56 pm
#317
Join Date: Jun 2012
Location: Boston
Programs: UA 1K
Posts: 272
Having massive issues with Plastiq of late. Twice now, payments made with Chase VISA cards (also one with Citi Mastercard), were accepted and within 24 hours I get the "We want to look into this payment further" emails, requesting copies of invoices, vendor website, etc. First one was for me paying my book keeper her fees, and the 2nd one was for paying my daughter's apartment rent at college. Meanwhile I'm getting emails from what appears to be a Plastiq "Private Client Representative" trying to court more business from our company to pay through Plastiq. If it is this hard for simple and relatively small (ie. < $2000) transactions, they are not viable. I can (barely) understand the AMEX issues, but VISA? And now Mastercard? Is this a business on life support?
Aug 31, 2018, 2:55 pm
#318
Suspended
Join Date: May 2012
Posts: 233
Having massive issues with Plastiq of late. Twice now, payments made with Chase VISA cards (also one with Citi Mastercard), were accepted and within 24 hours I get the "We want to look into this payment further" emails, requesting copies of invoices, vendor website, etc. First one was for me paying my book keeper her fees, and the 2nd one was for paying my daughter's apartment rent at college. Meanwhile I'm getting emails from what appears to be a Plastiq "Private Client Representative" trying to court more business from our company to pay through Plastiq. If it is this hard for simple and relatively small (ie. < $2000) transactions, they are not viable. I can (barely) understand the AMEX issues, but VISA? And now Mastercard? Is this a business on life support?
Sep 1, 2018, 9:38 pm
#319
Moderator: Travel Buzz
Join Date: Aug 2012
Location: Sunny San Diego
Posts: 3,095
I've had to send in documentation for 3 vendors. None were P2P. It's very easy to send a web site link over. They verified later the same day and that was that. Once Plastiq got the information they wanted, it's been smooth sailing ever since.
Sep 2, 2018, 11:47 am
#320
Join Date: Jul 2016
Posts: 13
I've been using Plastiq for about 18 months now, and it has never been this bad. I must have done about 50 transactions with them before, and this increased scrutiny started to appear around May this year, particularly with VISA transactions. So far the flagged transactions have been to a corporate rental company, and to my book keeper. I have never had any issues with P2P that go to a LLC entity though. Since anyone could just register a LLC and trade out of it, it doesn't seem to make much sense as to why, which leads me to believe that VISA are putting a lot of pressure on Plastiq, thinking that they are basically acting like a cash advance service. I can't see this getting any better unfortunately.
Sep 2, 2018, 11:48 am
#321
Join Date: Jul 2016
Posts: 13
Are you finding that the verification per vendor sticks to future transactions?
Sep 3, 2018, 10:08 am
#322
Moderator: Travel Buzz
Join Date: Aug 2012
Location: Sunny San Diego
Posts: 3,095
Yes, you'll only have to verify a vendor once, then you're good to go. I got asked twice in a row about a vendor, but I think it was just an overlap. I had sent in the requested data and it hadn't been noted yet on my account.
Sep 4, 2018, 10:48 pm
#323
Join Date: Jul 2016
Posts: 8
Sep 6, 2018, 2:54 am
#325
Join Date: Apr 2018
Posts: 17
YMMV
Last edited by CzarZ; Sep 6, 2018 at 2:56 am Reason: Oops
Sep 6, 2018, 9:58 am
#326
Join Date: Dec 2004
Location: SFO
Programs: BART Platinum, AA Plat Pro
Posts: 1,158
I am making a bunch of $250 1040-ES payments. I don’t have any reason to believe it should be frowned upon by Plastiq or IRS. Plastiq tells you when the payee deposits the check, so you’ll know they were received.
Sep 6, 2018, 10:22 am
#327
Join Date: Jul 2017
Programs: UR, Marriott, AA, WN, Chick Fil A Red
Posts: 182
I'm doing the same, and scheduled a number of payments to process today. Only 15 of them went through, with the others not showing up on the Plastiq website as even being scheduled. Perhaps there is a limit of 15 transactions with a single biller per day? It did not show an error when scheduling all of them, and my CC doesn't appear to have declined them. It's as if they were never scheduled in the first place (and they definitely were.)
Sep 6, 2018, 12:01 pm
#328
Join Date: Dec 2004
Location: SFO
Programs: BART Platinum, AA Plat Pro
Posts: 1,158
I'm doing the same, and scheduled a number of payments to process today. Only 15 of them went through, with the others not showing up on the Plastiq website as even being scheduled. Perhaps there is a limit of 15 transactions with a single biller per day? It did not show an error when scheduling all of them, and my CC doesn't appear to have declined them. It's as if they were never scheduled in the first place (and they definitely were.)
Sep 8, 2018, 2:36 pm
#329
Join Date: Jul 2010
Location: PHL
Programs: Hyatt Globalist, Hilton Diamond, AA Gold, FB Gold, ITA Volare Executive
Posts: 3,294
Is there any sort of wait time between signing up for Masterpass and Plastiq registering an MC as an MC Masterpass card? Just did the sign up and am trying to help spouse pay from her Plastiq account. Mine, to same payor (college tuition) shows as Masterpass. Hers does not.
Update: Okay, so what I seem to have forgotten--I mean, it would be one thing not to have known this, but since I must have done this on my account, I can't claim that as an excuse--is that to load an MC as a Masterpass card you have to go to Manage Card, then Add New Card, but rather than actually adding a card, click on the little box that says "+ More Ways to Add". That will reveal Add a Card from Masterpass.
Update: Okay, so what I seem to have forgotten--I mean, it would be one thing not to have known this, but since I must have done this on my account, I can't claim that as an excuse--is that to load an MC as a Masterpass card you have to go to Manage Card, then Add New Card, but rather than actually adding a card, click on the little box that says "+ More Ways to Add". That will reveal Add a Card from Masterpass.
Last edited by Biggie Fries; Sep 11, 2018 at 12:09 pm Reason: I'm a moron, or losing my memory, or both
