When Plastiq first launched they had a promotional debit card rate of 0%, there was no end date on that promotion but today it has ended none the less. They are now charging 1% for all debit card transactions. The rewards debit card market is pretty much dead apart from the Paypal business debit card, so this shouldn’t be a huge loss for people as Plastiq didn’t accept prepaids/giftcards as debit anyway.
[Update: Plastiq reached out to us to clarify that they do accept prepaid and gift cards, just those cards don’t get the 1% fee, rather the regular 2.5% fee. Only personal debit cards get the 1% fee.]
Plastiq frequently offers promotions, so make sure you follow us on Twitter so you don’t miss any of them. Another one bites the dust…
Hat tip to Project End Point
Are you able to use multiple VGCs to pay a single bill? ex: three $200VGC to pay a $550 bill.
Can you use this to meet the Citigold $1000 spend req’t?
I use gift cards with no issue. They do charge 3%.
What is the point in paying 3% to send payments though? IMO this service is useless at this point..
I can get gift cards for no fee with 5x points. I just pay the plastiq vig.
I’m thinking of using the PPBDMC to pay my mortgage with Plastiq. Does PP count this transaction as a signature purchase and give 1% cash back? If so, it’ll be relatively easy MS if I just do $2000/mo or so.
The 1% fee would cancel out your profit?
Well, I’m talking about profit from buying PPMC from drug stores. It would be the same as buying OV and loading onto Serve, but is $1 cheaper and saves me a trip to RA or WM.
I was wondering the same thing. Since PPBDC recently changed their terms (as of oct 19th 2016) so that Radpad will no longer earn cash pack using PPBDC, will platiq still work and incur the 1% fee as a debit card? I am trying to find an alternative to offset the $4.95 per card fee for PayPal my cash cards and minimize any other fees. As far as I can tell, I can continue using the PPBDC with Radpad and pay the $9.95 fee for debit (formerly free) and also the 4.95 per card fees but no longer recoup the 4.95 fees per card. Any thoughts?
Plastiq didn’t accept visa gift cards? I thought they did. Have one in pending right now.
Made this clearer, they don’t go through as debit.
All of my pending recurring payments are still showing the 0% promotional rate so it looks like this only affects new payments.
“had a promotional debit card rate of 1%” and now they have 1%???
Fixed.
Title says “Now Charging 1%”.
Then first sentence says the promotional rate of 1% has ended.
So is there currently a fee or not?
The promotion rate was 0%, now they are charging 1%. Sorry, will fix this.
It used to be free, now it’s 1%.