Chexy and Aeroplan launch Canada’s first mortgage rewards program

The benefits of this partnership

A mortgage is often a household’s largest monthly expense, and until now it generated no rewards, unlike rent or bills (already covered by Chexy via card).

Now, with chexy.co/mortgage, even after the 1.75% fee, the net return is positive (~0.25%, ~$90/year on a $3,000/month mortgage, the example used by Chexy itself): you get a real gain with zero change in habits (same lender, same bank, same payment method).

Finally, you can unlock Elite status with no additional spending: the 1 SQD per 5 points (up to 25,000 SQD/year) provides a new everyday way to progress toward Elite status, at a time when ways to earn Aeroplan points without a premium card have become quite a bit rarer.

Once linked to your account, you earn every month without doing anything!

For a couple with a joint mortgage, you will of course need to keep in mind that only the primary Chexy account holder earns the points, not both. And a 0.25% net return is clearly lower than what a good travel card earns on everyday spending; the appeal is that the category itself simply did not exist before, and offered no competitive rate.

How Chexy’s new mortgage program works

Here are the key points of the program, based on the official press release from August 4, 2026, and clarifications obtained directly from Chexy:

• 1 Aeroplan point per dollar paid on a mortgage payment made via Chexy, from a bank account (not a credit card), on the total amount withdrawn by the lender (principal, interest, and the municipal tax or insurance portions included in that withdrawal, where applicable)
• A 1.75% fee applies to each mortgage payment, withdrawn directly from the bank account, the same rate as for the rest of the Chexy platform
• Compatible with virtually all Canadian mortgage lenders, across the country (including in Quebec), without having to refinance, change banks, or change how you pay your mortgage
• Members aiming for Aeroplan Elite status also earn 1 SQD (Status Qualifying Dollars) for every 5 Aeroplan points earned, up to a maximum of 25,000 SQD per calendar year in the Everyday Partners category; no other cap limits base Aeroplan points

The service is available starting today on Chexy, in the mortgage section (chexy.co/mortgage). At launch, one Chexy account can be linked to one mortgage only, limited to personal accounts: commercial mortgages are not eligible.

Offer summary at a glance

How to set up your account

According to the program’s official page, setup is done in three steps:

1. Link your bank account and your Aeroplan number: choose the chequing account used to pay the mortgage, then enter your Aeroplan account number
2. Set up your mortgage in Chexy: confirm the mortgage details, then provide your lender with the Chexy account details from which payments will be withdrawn
3. Let the points add up: Chexy debits the chequing account on the usual payment date and pays the lender as normal; points are deposited once the payment is completed

Chexy also offers a separate bonus from the mortgage program: up to 1,000 Aeroplan points when opening an account and making the first payment, plus up to 6,000 additional points on monthly bill payments, a limited-time offer ending September 30, 2026. Combined with mortgage points, Chexy illustrates that a new user could earn up to 43,000 Aeroplan points in the first year on a $3,000-per-month mortgage.

Chexy is also giving away one month of mortgage payments, until September 21, 2026. The terms and the ways to enter are in our article on the Chexy mortgage contest.

A different mechanism from Chexy’s usual offering

Since its early days, Chexy has allowed users to pay rent, taxes, and recurring bills with a Visa, Mastercard, or American Express credit card, for a processing fee of 1.75% (domestic cards) or 2.5% (international cards). In that case, it is the points from the credit card used that accumulate, not points paid directly by Chexy.

In fact, mortgage loans were explicitly excluded from eligible expenses in previous Chexy and Aeroplan promotions, which were limited to rent, tuition, utilities, and taxes. The new program works differently: Chexy acts as an intermediary between the member’s bank account and their mortgage lender.

Chexy withdraws the mortgage payment amount, fees included, directly from the member’s bank account. The mortgage lender is then paid by Chexy, exactly as it normally would be: nothing changes from the lender’s perspective. Chexy tracks the total value of payments made this way, then deposits the corresponding Aeroplan points directly into the member’s account, thanks to its partnership with Aeroplan. However, it is not possible to pay your mortgage by direct Interac e-Transfer through this program.

A partnership expanding across the entire housing sector

“A home is one of the most important payments Canadian homeowners make each month, and it has never earned them loyalty rewards before. By expanding our partnership with Aeroplan, we’re changing that: your mortgage payment can now bring you closer to your next trip,” said Liza Akhvlediani Carew, Chexy’s co-founder and CEO, in the release.

On the Air Canada side, Scott O’Leary, Vice President, Loyalty and Product, adds: “This program gives Aeroplan members the opportunity to turn their monthly mortgage payment into a meaningful reward that brings them closer to the travel experiences they are saving for.”

The new mortgage program adds to an existing Chexy–Aeroplan partnership in the housing sector: Chexy also works with Fitzrovia, Canada’s largest purpose-built rental community developer, to allow eligible residents to earn Aeroplan points on their rent payments and through promotional offers, without changing banks or how they pay.

Is it worth it?

Let’s do the math: Chexy charges a 1.75% fee on each mortgage payment, while the program awards 1 Aeroplan point per dollar paid. Valuing an Aeroplan point at 2 cents, as we usually do, each dollar paid earns about 2 cents in points value for a cost of 1.75 cents: a net gain of about 0.25 cent per dollar, i.e., a net return of 0.25%.

On a $3,000-per-month mortgage, the example Chexy itself uses to illustrate this new program, that works out to 3,000 Aeroplan points a month, or 36,000 Aeroplan points a year. At 2 cents each, those points are worth about $720, against annual fees of $630 ($52.50 a month), for a net gain of about $90 a year, not counting the SQC accumulation toward Aeroplan Elite status.

The net return therefore remains modest, but it is a return on a payment that, until now, earned absolutely nothing. Unlike the rest of Chexy’s offering, no choice of credit card can boost this rate: it is the bank account, and it alone, that generates the points.

Conclusion

Chexy and Aeroplan are thus launching a Canadian first: turning a mortgage payment, paid directly from a bank account, into loyalty points, for a modest but real net gain once the 1.75% fee is deducted. The offer is already live at chexy.co/mortgage.

To choose the best card to use for the rest of your recurring payments with Chexy, see our page on the best credit cards in Canada.

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Chexy and Aeroplan mortgage: FAQs

How do I earn Aeroplan points on my mortgage?

You earn 1 Aeroplan point for every dollar paid on your mortgage via Chexy, from your bank account. No credit card is required for this feature.

Do I need to change mortgage lenders to take advantage of it?

No. The program is compatible with virtually all Canadian mortgage lenders across the country, including in Quebec. You do not have to refinance, change banks, or change how you pay your mortgage.

Do I have to pay with my credit card or by Interac e-Transfer?

No, neither. Chexy acts as an intermediary between your bank account and your mortgage lender: it is this withdrawal, not a card or a direct Interac e-Transfer, that generates Aeroplan points.

Are there fees for this program?

Yes. Chexy confirmed to us a 1.75% fee per mortgage payment, withdrawn directly from your bank account—the same rate as on the rest of its platform.

Do the municipal taxes and insurance included in my payment count as well?

Yes. Points are calculated on the total amount withdrawn by your lender, including principal and interest, and the municipal tax or insurance portions included in that withdrawal, where applicable, count as well.

How long before I see my points appear in my Aeroplan account?

Up to 60 days after your payment, according to Chexy.

Can both people on a joint mortgage earn points?

No. Only the primary Chexy account holder earns the points, and it is not currently possible to split payments between both people.

Does it work for a commercial mortgage or multiple properties?

No, not at launch. The program is limited to personal accounts, one Chexy account can only be linked to one mortgage, and commercial mortgages are not eligible.

What does Aeroplan Elite status have to do with this offer?

If you are aiming for Aeroplan Elite status, you earn 1 SQD (Status Qualifying Dollars) for every 5 Aeroplan points earned through your mortgage payments, up to a maximum of 25,000 SQD per calendar year in the Everyday Partners category.

How do you set up your account for this program?

In three steps: link your chequing account and your Aeroplan number, confirm your mortgage details in Chexy and provide your lender with the Chexy account details from which payments will be withdrawn, then let the points add up with each payment.

Since when has the program been available?

The program has been available since August 4, 2026, directly via Chexy.