Plastiq Will No Longer Support Personal Prepaid Debit Card

Plastiq has sent out an email to inform users that starting January 1st, 2020, it will no longer support payments made with personal prepaid debit cards. Payments made with business prepaid debit cards and payroll cards will continue to be accepted.

Plastiq Personal Prepaid Debit Card

Here’s the text of the email:

As of January 1, 2020, Plastiq will no longer support payments made with personal prepaid debit cards. However, payments made with business prepaid debit cards and payroll cards will continue to be accepted.

After this date, all scheduled payments made with personal prepaid cards will be declined by Plastiq. Starting January 2020, you will be unable to add a personal prepaid debit card to a Plastiq account.

From now until January 1, 2020, a limit of $7,500 in total payments will be enforced on Plastiq accounts that continue to utilize this payment method. Once this limit is reached on your account, further payments using a personal prepaid debit card will be rejected.

This change does not impact any payments made with credit or debit cards on the Discover, Mastercard, Visa, and American Express networks.

We apologize for any inconvenience that may result from this policy update. If you have any questions or need assistance with your payments, please reach out to our service team via live chat on our website or by email at service@plastiq.com.
I’m not sure exactly which cards will fall under this category. But it is most likely about Visa and Mastercard gift cards which could be used to pay bill with a 1% fee. It does say that credit and debit cards in the Discover, Mastercard, Visa, and American Express networks will not be affected though. But i’ll update the article if I receive more information. The restriction goes into effect at the beginning of the next year, so you have some time until then. Even if you did not receive an email, you should see the notice in the payment page at Plastiq.

Plastiq

Plastiq is a service that lets you pay bills with a credit card. You can pay your rent, mortgage or any other bill that you have, either by check or ACH. They charge fees for using a credit card, but sometimes they have promotions like this one, which make it worthwhile. Even paying the full fee of 2.5% makes sense sometimes if you need to complete minimum spending requirements in a hurry.

If you’ve never tried Plastiq you can sign up through my referral and you get $500 in fee-free spending. That means that you can pay any bill up to $500 with a credit card with no fee. There’s also a better bonus for business accounts.

moomoo signup bonus

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