Plastiq makes a nice gesture to make up for Visa change

Stephen reported a few days ago about the June 1st change affected Plastiq payments with a Visa whereby payments may be limited to a small percentage of your credit limit and/or incur a cash advance fee when paying with a personal Visa card. See his post for more details (Plastiq Changes For Visa Transactions: Lower Limits Or Cash Advances). In that post, Stephen notes that Plastiq will reach out to customers with affected payments. It just so happens that I had a couple of Plastiq payments scheduled for next week that charge to a personal Visa card that would be affected and I had not yet gotten around to changing my payment method. As a result, I received the following email from Plastiq a few days ago about one of those payments:

As you can see above, Plastiq reached out to let me know that the payment may be treated as a cash advance. Additionally, they credited my account with 450 fee-free dollars. That is the amount of the payment in question — meaning that they essentially gave me that next payment fee-free and reminded me to change to a card that wouldn’t incur a cash advance fee. That’s a pretty good proactive resolution. I since received the same type of email about a second payment scheduled on the same card with fee-free dollars credited in the amount of that payment as well.

One can hope that the personal Visa card limitations are indeed temporary. Be on the lookout for a similar email from Plastiq to make sure that you are not charged a cash advance fee on any payments you have scheduled.

About Nick Reyes

Nick Reyes is a (fairly) regular guy with an animalistic passion for maximizing the value of miles and money to travel the world in comfort and style. There is little in life that he loves more than finding a fantastic deal and helping you shop smarter & harder to achieve your travel dreams.

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Plastiq Gives Out Fee-Free Dollars And Warns People About Visa Payments - Miles to MemoriesTKWPlastiq is Giving Out Fee-Free Dollars And Warning People About Visa Payments - Danny the Deal GuruPlastiq Giving Users With Scheduled Payments Paid With Visa Cards Some Fee Free Dollars - The Online MentorPlastiq Giving Users With Scheduled Payments Paid With Visa Cards Some Fee Free Dollars - Doctor Of Credit Recent comment authors

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Steve
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Steve

Nick, given this new development, the Amex limitations for using Plastiq, and the demise of Tio, what do you think is the long term viability of a service like Plastiq?

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[…] some personal Visa cards are coding as a cash advance when using Plastiq. Some readers (and Nick at Frequent Miler) are reporting receiving e-mails warning them that upcoming payments are scheduled to be paid with […]

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[…] some personal Visa cards are coding as a cash advance when using Plastiq. Some readers (and Nick at Frequent Miler) are reporting receiving e-mails warning them that upcoming payments are scheduled to be paid with […]

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[…] Plastiq, and the lattr has been really helpful with information on how to avoid Cash Advance fees. FrequentMiler reports that Plastiq is contacting customers to warn them about these fees and suggesting to cancel […]

TKW
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TKW

There are some serious caveats with the Plastiq service to be aware of. Though I greatly appreciate the service and I do hope it continues to improve, there are some pitfalls to beware. Mainly, Plastiq may at any time charge your card without your approval due to some software bug or maybe because an employee was bored and just wants to see what happens. Next you may appeal for the fee to be lifted since after all it was a payment you were going to pay with your MasterCard but there is now a promotion. So you are out of pocket for less than a dollar. Never fear, customer service to rescue. DGAF, and no pennies will be refunded. Escalate and find proof that the charge is made without approval. Never fear, Plastiq will threaten to close your account. Amazing how far some broke-sss company can go to save some pennies.

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[…] Plastiq has been proactive and really helpful with information on how to avoid Cash Advance fees. FrequentMiler reports that Plastiq is contacting customers to warn them about these fees and suggesting to […]