[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. 

Subscribe
Notify of
guest

49 Comments
newest
oldest most voted

AB
AB (@guest_861012)
December 22, 2019 13:43

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
Hoang Nguyen (@guest_858815)
December 17, 2019 18:55

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

AllwaysLearning22
AllwaysLearning22 (@guest_859743)
December 19, 2019 11:31

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 (@guest_856744)
December 12, 2019 22:08

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

AllwaysLearning22
AllwaysLearning22 (@guest_857366)
December 14, 2019 11:20

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

aubergine
aubergine (@guest_856691)
December 12, 2019 19:45

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 (@guest_856671)
December 12, 2019 19:13

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 (@guest_856741)
December 12, 2019 21:58

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

AllwaysLearning22
AllwaysLearning22 (@guest_857365)
December 14, 2019 11:19

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 (@guest_856659)
December 12, 2019 18:57

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
Millennial Outrage (@guest_856673)
December 12, 2019 19:14

Samesies

vc
vc (@guest_856785)
December 12, 2019 23:31

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 (@guest_856647)
December 12, 2019 18:41

I got 1.5% email.

sevillada
sevillada (@guest_856635)
December 12, 2019 18:15

nothing for P1/P2 🙁

Yu
Yu (@guest_856626)
December 12, 2019 17:49

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

AllwaysLearning22
AllwaysLearning22 (@guest_857363)
December 14, 2019 11:17
  Yu

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 (@guest_857380)
December 14, 2019 12:22

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 (@guest_854454)
December 7, 2019 02:05

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 (@guest_856651)
December 12, 2019 18:49

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!