Plastiq is one of the few remaining options for completing minimum spend from the comfort of your home. It enables you to pay rent, mortgage, bills and services that you wouldn’t be able to pay with a credit cards otherwise. The downside is that you have to pay a fee, which is usually 2.5%. They often have promotions that lower that fee, such as this one for Mastercard credit cards.
Plastiq Expedited Check Delivery
Until now Plastiq had the option to send payments by ACH or check. The check feature took about 5 days, but there will now be a better option. Plastiq has announced a new product feature, Expedited Check Delivery, that will be available for everyone starting from Monday, October 30th, 2018.
As the newest addition to the Accelerated Payments Suite, expedited check payment on the Plastiq platform offers a convenient and flexible way for customers to maximize their credit. Customers simply schedule the payment and choose expedited delivery in order to guarantee delivery within two business days. Plastiq accepts the customer’s payment by credit card and sends a check to their vendor.
The new feature comes with fees though. Besides the 2.5% Plastiq fee that applies to most payments, you also will pay:
- 0.5% Base fee
- $40 FedEx Priority Overnight fee
- $10 Handling fee
*Handling fee waived on payments with a principal over $3,000
- Expedited check delivery
- Standard & expedited
- ACH bank transfers
- US domestic wires.
Paying through Plastiq doesn’t always make sense. They usually charge a 2.5% fee for credit cards and 1% for debit cards. Plastiq is more about being an easy option than a profitable one. But, it could also be profitable sometimes, when they have promos with lower fees. The new feature for Plastiq ACH Payments should make payments quicker, and the money will be directly deposited into the receivers account. There’s no need for physical checks and envelopes that take 1-2 weeks to be delivered.
The new Expedited Check Delivery could come in handy sometimes, but keep in mind that there’s extra fees. Schedule payments ahead of time, or use ACH when possible.
If you’ve never tried Plastiq you can sign up through my referral and you get $500 in free spending when you make a payment of $500.