Payment service Plastiq has sent out an e-mail to users informing them that in the next few months they will begin enforcing the fee free dollars (FFD) expiration periods. Plastiq terms have always stated that FFD would expire 90 days after being earned unless there is activity either earning or redeeming these credits, previously Plastiq was not actually enforcing this but that will change.
Over the next few months, Plastiq will begin enforcing its FFD expiry policy. As stated in our existing terms of service, FFDs expire 90 days after issuance unless there is account activity involving FFDs (i.e. a redemption or credit).
Essentially, unused FFDs are designed to expire after 90 days. Currently, users can see the countdown to expiration in the Rewards & Referrals section, but Plastiq does not void the FFDs when the counter reaches 0.
Users can keep their FFDs active by redeeming them at least once every 90 days towards a payment or refer a new customer to Plastiq. Again, this is not a change, but rather an enforcement of our existing terms.
It’s nice of Plastiq to let users know that this will start to be enforced. I do think 90 days is a fairly short expiration period, but given any activity resets the clock it’s not too bad. Still would be nice to have six months or a year.
Easily avoided by making $1 payment every 89 days. 🙂
Didn’t get the email (as of this writing), so thanks for the heads-up. I appreciate plastiq for giving us this heads-up as well.
The physical check they send out also states “Void after 90 days”.
Its an old thing. They always expired 90 days after. But you could schedule a payment with the fee free dollars and later cancel and it will reset the 90 days.
Terms always said they expired but they never actually did before. They are just warning people that they will actually enforce this going forward. Really nice change in this game compared to surprise clawbacks.