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Successful Credit Cards Used (Posted as Purchase, Visa info outdated)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)
Jul 30, 2019, 1:08 pm
#601
Join Date: Apr 2019
Posts: 251
Can someone provide some assistance and insight into using a Simon Giftcard Visa Debit bought online at Plastiq to pay a mortgage bill? Plastiq says Blackhawk (Simon) denied the payment. Blackhawk says you can't use the the gift card for bill payment or money orders. They said if the transaction was used as a one off (and not setup as a bill payment), than it should work. Any ideas?
Jul 31, 2019, 11:53 am
#602
Join Date: Aug 2011
Posts: 20
Thanks, here is what Plastiq said:
"Platiq:
no VISA card , regardless of credit or debit will work for a mortgage payment using Plastiq I'm afraid
ME: ok, how about a car payment?
Plastiq:
yes, a VISA debit should work for car payments but not a VISA credit card
"
Jul 31, 2019, 3:44 pm
#603
Join Date: Apr 2019
Posts: 251
Plastiq website say that Metabank prepaid Visa cards won't work: https://help.plastiq.com/hc/en-us/ar...l-Card-Changes
Down at the bottom of the page they have a list of banks whose prepaid Visa cards don't work.
That said, cards don't always code the way you expect on Plastiq so there is no harm in trying. Let us know if it works.
Down at the bottom of the page they have a list of banks whose prepaid Visa cards don't work.
That said, cards don't always code the way you expect on Plastiq so there is no harm in trying. Let us know if it works.
Aug 8, 2019, 9:17 am
#604
Join Date: Nov 2003
Location: chicago, il, USA
Posts: 132
Misdirected Payment
I have been paying my rent through plastiq using a Visa personal card all year. This month, Plastiq somehow sent my rent payment to a person I've never heard of at an address I'd never seen. Plastiq's response to this has been. . . not very helpful. Should I dispute the charge with Visa?
Relatedly, I tried to re-send a payment to my landlord (who is obviously anxious to get my payment and late fee), but Plastiq's website now says my Visa can't be used for rent payments.
Thanks
Relatedly, I tried to re-send a payment to my landlord (who is obviously anxious to get my payment and late fee), but Plastiq's website now says my Visa can't be used for rent payments.
Thanks
Aug 8, 2019, 3:53 pm
#605
Join Date: Nov 2014
Location: San Diego, CA
Posts: 22
I've been reading quite a lot about Plastiq but still can't find a clear answer.
For the first time ever, I am trying to use Plastiq for MSR.
I currently live at my friend's house (paying rent ofc). So every month I just venmo him the rent.
Can I signup for a new CC (probably Mastercard since Visa doesn't work and using plastiq for Amex MSR is dangerous I hear?) Thinking Chase IHG mastercard.
and pay him rent monthly?
Will Plastiq require rental agreement? We can just write one up if needed...
Also, will Chase be okay with me meeting MSR via plastiq?
Thanks in advance
For the first time ever, I am trying to use Plastiq for MSR.
I currently live at my friend's house (paying rent ofc). So every month I just venmo him the rent.
Can I signup for a new CC (probably Mastercard since Visa doesn't work and using plastiq for Amex MSR is dangerous I hear?) Thinking Chase IHG mastercard.
and pay him rent monthly?
Will Plastiq require rental agreement? We can just write one up if needed...
Also, will Chase be okay with me meeting MSR via plastiq?
Thanks in advance
Aug 9, 2019, 12:38 am
#606
Join Date: Nov 2006
Location: Left Coast
Programs: UA 1K & 1MM, HH Diamond, Marriott/SPG Gold (UA comp)
Posts: 1,353
Plastiq website say that Metabank prepaid Visa cards won't work: https://help.plastiq.com/hc/en-us/ar...l-Card-Changes
Down at the bottom of the page they have a list of banks whose prepaid Visa cards don't work.
That said, cards don't always code the way you expect on Plastiq so there is no harm in trying. Let us know if it works.
Down at the bottom of the page they have a list of banks whose prepaid Visa cards don't work.
That said, cards don't always code the way you expect on Plastiq so there is no harm in trying. Let us know if it works.
Just did a $200 Blackhawk VGC, also went through
Last edited by weezl; Aug 9, 2019 at 12:48 am Reason: 2nd DP added
Aug 9, 2019, 8:44 am
#607
Join Date: Mar 2016
Location: North Texas
Programs: SWA A-List, Marriott Platinum, Hilton Gold
Posts: 188
I've been reading quite a lot about Plastiq but still can't find a clear answer.
For the first time ever, I am trying to use Plastiq for MSR.
I currently live at my friend's house (paying rent ofc). So every month I just venmo him the rent.
Can I signup for a new CC (probably Mastercard since Visa doesn't work and using plastiq for Amex MSR is dangerous I hear?) Thinking Chase IHG mastercard.
and pay him rent monthly?
Will Plastiq require rental agreement? We can just write one up if needed...
Also, will Chase be okay with me meeting MSR via plastiq?
Thanks in advance
For the first time ever, I am trying to use Plastiq for MSR.
I currently live at my friend's house (paying rent ofc). So every month I just venmo him the rent.
Can I signup for a new CC (probably Mastercard since Visa doesn't work and using plastiq for Amex MSR is dangerous I hear?) Thinking Chase IHG mastercard.
and pay him rent monthly?
Will Plastiq require rental agreement? We can just write one up if needed...
Also, will Chase be okay with me meeting MSR via plastiq?
Thanks in advance
Aug 9, 2019, 11:24 am
#608
Join Date: Nov 2010
Location: Washington, DC
Posts: 393
Just got an offer to pay 3 bills up to 10K each at 1.5% and used a $500 Metabank VGC that did NOT work a couple mos ago, but on retry today went through without a hitch (yes I sat on the card this for a long time, too lazy to go get a MO).
Just did a $200 Blackhawk VGC, also went through
Just did a $200 Blackhawk VGC, also went through
Aug 9, 2019, 12:20 pm
#609
Join Date: Nov 2014
Location: San Diego, CA
Posts: 22
Is it considered "safe" to meet MSR via Plastiq for Chase mastercards?
Last edited by courtesy9711; Aug 9, 2019 at 2:37 pm Reason: quote
Aug 9, 2019, 12:31 pm
#611
Join Date: Nov 2014
Posts: 50
A caution about using Plastiq for Tax Payments
I've used Plastiq a number of times to pay the IRS. This is an especially easy way to get rid of MGCs for a 1% fee. But I've found the danger of getting the payment misrouted is high.
1) I once had a 2018 tax payment directed to tax year 2017. This resulted in the IRS refunding me for 2017 and dinging me for 2018. The different between the refund and the bill was small -- so I just let it go and cashed the 2017 payment and paid the 2018 bill.
2) I recently had 2019 estimated taxes credited to tax year 2018. This resulted in a long phone call with an IRS rep (who was quite nice) to get the payments straightened out. I only found this out when the IRS notified me that I had overpaid in 2018.
It appears that even though Plastiq asks for the Tax Type and Year during the process -- this information is not given to the IRS. The IRS rep was able to look at the check sent by Plastiq and it didn't indicate the tax year. So the IRS processing agent just does what he/she thinks is best.
1) I once had a 2018 tax payment directed to tax year 2017. This resulted in the IRS refunding me for 2017 and dinging me for 2018. The different between the refund and the bill was small -- so I just let it go and cashed the 2017 payment and paid the 2018 bill.
2) I recently had 2019 estimated taxes credited to tax year 2018. This resulted in a long phone call with an IRS rep (who was quite nice) to get the payments straightened out. I only found this out when the IRS notified me that I had overpaid in 2018.
It appears that even though Plastiq asks for the Tax Type and Year during the process -- this information is not given to the IRS. The IRS rep was able to look at the check sent by Plastiq and it didn't indicate the tax year. So the IRS processing agent just does what he/she thinks is best.
Aug 9, 2019, 2:35 pm
#612
Join Date: Nov 2014
Location: San Diego, CA
Posts: 22
Aug 9, 2019, 3:57 pm
#613
Join Date: Jun 2019
Posts: 3
I am looking to use Plastiq for business, and they said they can drop the fee to 2.4% if we process at least $100k a month.
Still don't think the math works out with the current offers for visa/mc business cards out there. It just seems like it's effectively buying miles, though I guess you could argue earnings points is buying miles for the cash back you could be earning instead
Still don't think the math works out with the current offers for visa/mc business cards out there. It just seems like it's effectively buying miles, though I guess you could argue earnings points is buying miles for the cash back you could be earning instead
Aug 12, 2019, 8:50 am
#614
Join Date: Mar 2016
Location: North Texas
Programs: SWA A-List, Marriott Platinum, Hilton Gold
Posts: 188
I've used Plastiq a number of times to pay the IRS. This is an especially easy way to get rid of MGCs for a 1% fee. But I've found the danger of getting the payment misrouted is high.
1) I once had a 2018 tax payment directed to tax year 2017. This resulted in the IRS refunding me for 2017 and dinging me for 2018. The different between the refund and the bill was small -- so I just let it go and cashed the 2017 payment and paid the 2018 bill.
2) I recently had 2019 estimated taxes credited to tax year 2018. This resulted in a long phone call with an IRS rep (who was quite nice) to get the payments straightened out. I only found this out when the IRS notified me that I had overpaid in 2018.
It appears that even though Plastiq asks for the Tax Type and Year during the process -- this information is not given to the IRS. The IRS rep was able to look at the check sent by Plastiq and it didn't indicate the tax year. So the IRS processing agent just does what he/she thinks is best.
1) I once had a 2018 tax payment directed to tax year 2017. This resulted in the IRS refunding me for 2017 and dinging me for 2018. The different between the refund and the bill was small -- so I just let it go and cashed the 2017 payment and paid the 2018 bill.
2) I recently had 2019 estimated taxes credited to tax year 2018. This resulted in a long phone call with an IRS rep (who was quite nice) to get the payments straightened out. I only found this out when the IRS notified me that I had overpaid in 2018.
It appears that even though Plastiq asks for the Tax Type and Year during the process -- this information is not given to the IRS. The IRS rep was able to look at the check sent by Plastiq and it didn't indicate the tax year. So the IRS processing agent just does what he/she thinks is best.
Aug 12, 2019, 8:58 am
#615
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
Wonder why you used Plastiq to pay IRS. Other online payments with CCs only charge less than 2%. Unless you get the 1.5% promotions, instead of the 2.5%.