Published on June 12th, 2017 | by Chuck66
Visa Cards No Longer Work to Pay Mortgage with Plastiq
Life comes at you fast.
Last week we reported that Plastiq no longer codes at 3x with CSR for rent and mortgage payments. CIP had mixed data points, and even one data point today suggesting that CIP is fixed and coding at 3x again. We still don’t know about Capital One and Bank of America.
I’ll hazard a guess that mortgage payments sent out via check (e.g. small banks) will still work since the mortgage category is bundled together with rent and real estate, so there isn’t any way for Visa to see which one it is.
[Update: Reports in the comments indicate that rent and HOA can also be affected with this issue. And check-payees are also affected.]
If you can’t pay your mortgage or rent with a Visa, then the CIP question is moot since it’s a Visa card. (Same for the BofA TR question and the Cap1 Venture question since those are also both Visa cards, I believe.) Still matters for rent payments, however.
If you have a scheduled payment, it will reportedly continue processing on the Visa card so long as you don’t make any changes.
Hat tip to redbluefire on Reddit