Published on February 21st, 2018 | by Chuck21
Plastiq: Send Payments via ACH Instead of Check [Available To All Users]
Update 02/21/18: This is now available to all Plastiq users. Hat tip to reader Abey
Plastiq is sending out an offer to select users to be able to send payments via ACH instead of physical check.
While there are hundreds of payees in the Plastiq system which can be paid electronically via ACH, there are many payees not in the system who will be paid via check. Those invited to this new option will be able to send payments to your vendors via ACH instead of physical check by simply entering their routing and account numbers in the Plastiq system.
Whichever option is chosen, you’ll always be able to use your credit card to make the payment. The ACH payments option is to have the payment processed electronically to the payee, not that the funds will come from your account via ACH. It comes from you via credit or debit card, as always.
Invited users will see an option to add a routing/account number for the new payee within the regular Add New Recipient flow. Before processing the first payment, Plastiq will reach out to the payee via email to verify that the routing/account information is accurate.
Plastiq is a great way to rack up credit card spend for a 2.5% fee when paying vendors who don’t typically accept credit cards, such as a gardener, caterer, contractor, etc. Some people were confused as to how this new invite-only program work, hopefully this post clarifies.