[YMMV] Plastiq Charging 1.25%/1.5% Fee

Update 12/12/19: Some are now seeing a 1.5% fee with no e-mail.

The Offer

  • Plastiq is charging some users a fee of 1.25% on payments sent until the end of the year

Our Verdict

No e-mails were sent out, but you’ll see the fee you need to pay before making the payment. See our full review of Plastiq here. New Plastiq members can signup with a referral link and get a bonus – details here. 

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AB
AB

Targeted for up to 3 payments of up to $20K each for 1%
Just put the kid’s tuition on there with my BoA premium rewards at Platium Honors level (Already have enough MR and UR at the moment).

Hoang Nguyen

Hmm, Plastiq does not accept Personal Prepaid card anymore. GG.

AllwaysLearning22
AllwaysLearning22

I also saw the e-mail yesterday, but when they say ‘Personal Prepaid’ I think they mean not only gift cards, but also ‘regular’ pre-paid like Serve, Metabank, Gobank, etc.

No idea why they need to do this, but it seems like it might be some regulatory requirement.

Anatoly Stepanovich Dyatlov
Anatoly Stepanovich Dyatlov

Received targeted email today: 1.5%… not great, not terrible.

AllwaysLearning22
AllwaysLearning22

Depending on the CC you got is not too bad. Specially if you have a 0% APR for a year …

aubergine
aubergine

Got a 1.5% offer today for 3x payments up to 10K.

I’m wondering if I should go open up a new card…..

dogbert
dogbert

Are there any consumer protections should Plastiq go belly up/bankrupt before your payment is processed. I got the email for 1% fee and it’s tempting to put some stuff on my Chase ink cash for 1.5% UR but I am unclear of the risks of setting up three 20k payments . Maximum cash return for me is. $300 if I put up 60k in credit card charges but I just fear what might happen if the company had financial trouble before my accounts were settled. Does anybody know if this is a legitimate concern?

Dubs
Dubs

Just charge it back on your credit card. All the consumer protections that apply to credit cards should apply

AllwaysLearning22
AllwaysLearning22

I agree. I think there is little chance of this being a problem. If Plastiq were to go bankrupt, you will eventually get your money back. It might be a hassle and it might take a while, but you will

David Vasquez
David Vasquez

I got an email today. 1.5% fee on up to 3 payments up to $10k each before 12/22/19. Subject line: “This season we’re gifting you lower fees“

Millennial Outrage

Samesies

vc
vc

me, too. not worth it now. would have been useful before i met my spend. using discover debit for a 1% fee now.

Mejbaol Alam Sajib
Mejbaol Alam Sajib

I got 1.5% email.

sevillada
sevillada

nothing for P1/P2 🙁

Yu
Yu

anyone used BOA premium rewards card to pay federal tax and still got the cash back points recently?

AllwaysLearning22
AllwaysLearning22

I have paid other bills with the Travel Rewards (not the Premiums rewards). That one always tracks at 1.5% for all purchases, but with the 75% relationship bonus comes to 2.65% overall, so no problem there.

I also paid mortgage with Chase with the Cash Rewards MC and for whatever reason this tracks as the online purchase category and ears 5.25% (on the first 2.5K for the quarter). Other bill payments with Plastiq do not get the ‘online purchase’ – go figure

Yu
Yu

Thanks. Did you use it to pay Federal Tax before. I am a little concerned if will get processed correctly. Also what does the plastiq charge look like on your credit card statement?

Curmudgeon
Curmudgeon

Don’t think it’s dead. I just got an email offering a 1% fee for up to three payments of $20,000 each. Valid until end of the year.

james
james

I didn’t see the email, but I just processed a Chase IHG Mastercard (the only MC in the chase travel portfolio, not sure why) mortgage payment to meet min. spend and it came in at 1% also!