Posted by Chuck on July 18, 2019
Manufactured Spending

Published on July 18th, 2019 | by Chuck

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[Targeted] Plastiq: Pay 1.5% Fee on up to Three Payments

Update 7/18/19: Deal is back, this time valid through July 31st, 2019.

Update 6/17/19: One data point indicates that even those who didn’t get the targeted email might see the 1.5% rate show up for them automatically by just logging into Plastiq and attempting a payment.

Update 6/16/19: When this promo first launched some people who were targeted weren’t receiving the special pricing, Plastiq has informed us that issue has been fixed and promo pricing will appear if you are targeted.

The Offer

No direct link, targeted offer; check your emails for subject: June Special: 1.5% fee on any three payments

  • For this month only, submit up to three payments with Plastiq ($10,000 or less each) and benefit from a 1.5% Plastiq fee.

Here’s how it works:

  • Select a recipient/vendor you would like to pay
  • Enter a payment amount up to a maximum of $10,000
  • Submit a payment using your preferred credit card
  • On the payment review page, make sure your payment is scheduled to be processed before 11:59 PM EST on June 30, 2019. Note: How do you check processing date? See this article for instructions and screenshots.
  • You can submit up to 3 one-time payments like this before 11:59 PM EST on June 30, 2019

The Fine Print

  • Promotion is available only to direct recipients of this email notifying them of their eligibility.
  • Cannot be combined with other Plastiq promotions or fee free dollars (FFDs). This promotion is non-transferable.
  • Payments must be made with a credit card associated with this eligible member’s account and must not exceed $10,000 per transaction.
  • Eligible customers can submit immediate payments or schedule payments to be processed before 11:59 PM EST on June 30, 2019.
  • The Plastiq 1.5% fee will automatically be applied when the payment is processed.
  • Editing, altering, canceling or rescheduling payments with this promotion applied will forfeit the service fee rate of 1.5%
  • This promotion does not apply to any scheduled payments submitted before 12:01 AM EST on June 10, 2019.

Our Verdict

We saw similar deals in the past. Those were for a lower fee of just 1%, but this deal is better since it allows the use of any credit card (not limited to Mastercard), and it allows payment to existing payees (not limited to new recipients), and you can do the payments as you wish, with or without scheduling it.

You can read our review of Plastiq here. If you’re signing up as a new customer, consider using my Plastiq referral link – you’ll get $500 in free processing after you do $500 in paid processing.

Reader Ted notes that you have to click through the link in the email in order to get the 1.5% rate; otherwise, it’ll show the regular 2.5% rate.



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Jason M
Jason M

I got the email, and then I went to submit a payment and the 2.5% fee still shows.

Trimal
Trimal

Same here

An
An

I clicked “Pay Now” through the email and were able to take advantage of the promotion.

Rich B
Rich B

Me too.

JP
JP

What do you mean “Payments must be made with a credit card associated with this eligible member’s account”?

The same credit card can be linked to more than one Plastiq account. The original email says “Preferred Credit Card”. What card is “preferred”?

Steve

I interpret “preferred” in that case to just mean whatever credit card you prefer, i.e., any card.

Possibly “associated with…” means the card must already be added to your account before the promo starts. But it could also mean any card that you add to your account (in which case, it doesn’t really restrict anything).

I’m seeing the same thing other people reported, that the fee shows as 2.5% before submitting. I didn’t try submitting it to see if the fee changes to 1% when processed.

Jerry
Jerry

Got the email, clicked to plastiq, trying pay and choose pay immediately, still show 2.5% fee. Don’t know why….

Jag
Jag

same with me, got the email but showing 2.5% fee

Bill
Bill

Read the article. Gotta click through the link in the email to see the 1.5% fee. I was able to get it that way.

JM
JM

Got it. Also seeing 2.5%.

JP
JP

seems no one able to see 1.5% fee yet….

Bill
Bill

People need to read the article. To see the 1.5% rate you need to click through the email. Worked fine for me.

ted
ted

Follow the ‘Pay Now’ link from your email and it should be 1.5%.

sue

Same here:Clicked on Pay Now, still dont see 1.5%.It is still 2.5%

Brian
Brian

Do business accounts get targeted as much as personal ? Can you have both a business and personal ? I was not targeted and only have a business account.

Thanks

Nick
Nick

Does anyone know if Bank of America’s Rewards card earns 3% on Plastic with Online Purchases?

PJ
PJ

Hmmmm good question

DaveInAZ
DaveInAZ

Highly doubtful, that category gives examples on online merchants like Amazon, Walmart.com, etc., and says “Some classes of merchants are excluded from the Online Shopping category such as government services and taxes, insurance, utilities and other non-retail services. “

grejotyx
grejotyx

I doubt it. My BoA card is set to a different 3% category right now so I can’t be 100% sure, but here’s how a recent Plastiq purchase is listed:

Merchant category:BUSINESS SERVICES NOT ELSEWHERE CLASSIFIED
Expense category:Business Services
Code:7399

Rabbmd
Rabbmd

I tried it in February when it first allowed catagories selection and it didn’t get 5.25% then 😢

86
86

You mean does it work for the BofA CR Mastercard, not Visa, right?

jwk1414
jwk1414

On my account, cards that were previously added show up at 1.5%. New cards are not tracking the 2.5%

msb1xr
msb1xr

Even clicking pay now shows 2.5% for a new card added and a card I already had added on there.

Joe S
Joe S

Old card on my account still shows 2.5%. Chatted with them and they said “Our team is aware of a possible issue with the new promotion not working as designed. We are happy to review your case and Plastiq account to see what the problem is and email you just as soon as our team has this resolved.” They never ever email me, so guess I’ll just have to keep checking. Have a few cards to meet some minimum spend on right now, but I can wait.

Allu
Allu

See my comment above, they will refund the 1% fee once they resolve the issue.

Allu

I was also seeing 2.5% fee on using an existing card, even after receiving the 1.5% fee promotion email. I chatted with them online and they asked for “the email associated with your Plastiq account, the last 4 digits of the card number, and the card’s zip/postal code,” and reported that “Our team is aware of a possible issue with the new promotion not working as designed. We are happy to review your case and Plastiq account to see what the problem is and email you just as soon as our team has this resolved.” When I said I don’t want to miss the promo due to this issue, they said, “If you would like to submit the 3 payments at the 2.5% rate, once we resolve we will refund the promo rate difference of the 1% if you wish.”

So I did.

Miro R

Targeted and I got 2 payments in at 1.5% on a new card added to the account. 3rd payment is not reflecting the discount though.

drirmbda
drirmbda

Same here. Worked twice only. Both on a new card. But had removed all cards from my account before receiving the promotion.

Bill
Bill

Weird that it worked twice but not third time for you. You didn’t go over the 10k limit with third payment did you?

Jenny
Jenny

tried to use my boa premium rewards visa card to do this and was told it would be counted as cash advance. so sad. Now don’t know what card to use.

grejotyx
grejotyx

Told by whom? I’ve used a BoA card for Plastiq recently (although it was a mastercard not a visa), and it coded as a purchase.

Francesco
Francesco
Kay
Kay

I have never used plastiq. Can I use this this to pay my property tax? My county wants me to pay 2.5% for using credit card to pay my tax! 🙁

AllwaysLearning22
AllwaysLearning22

In most instances you can, but make sure you submit your payment well ahead of time (at least 2 weeks?) and then follow up and check if the payment was received (and applied) to your account.

Until you do this at least once, you won’t know for sure if it works for you

Each county handles tax payments different. Some won’t accept it without the coupon you are supposed to send with the check.

Kay
Kay

Appreciate the reply. You are right about having to attach the coupon so this may not work for me. Online payment will trigger a 2.5% fee. Even with a 2% cash back I still loose out.

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