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A solution is within your reach to maximize credit card rewards at a lower cost! The Canadian company Chexy, already recognized for its rent payment by credit card services, offers several interesting features, including the ability to pay your bills and taxes by credit card.
You can indeed pay bills and taxes with a credit card while paying the lowest transaction fees on the Canadian market.
Chexy Wallet can be used to pay a wide variety of recurring (Recurring Payment) or one-off (Pay a Bill) invoices:
Use code: MILES15 to get $15 off your first payment via Chexy by creating your account here (this code is not valid for one-time payments).
Note that the promo code is valid on the first recurring payment only.
If your business or organization is not on the list, contact Chexy customer service so they can add it.
When doing your search, try inserting the company name in several ways (in English, in French and with or without an accent). The search tool is fussy, but you may find what you’re looking for after a few attempts.
I even managed to find the City of Montreal to pay municipal taxes! PaySimply doesn’t offer this city and Plastiq only does it by cheque.
Plus, transaction fees are particularly competitive:
In fact, Plastiq and PaySimply offer the same type of transaction, but with a 2.5% fee. This can make a huge difference in the fees you pay. Canadian Mastercard credit cards have very recently been accepted by Chexy.
The best credit cards for paying recurring bills on Chexy are the Scotiabank Momentum Visa Infinite Card or the MBNA Rewards World Elite Mastercard. They provide 4% and 5% respectively on recurring payments. This way, you’ll make a net profit of 2.25% or 3.25% on each payment!
This Chexy feature allows for the payment of taxes to the Canada Revenue Agency and Revenu Quebec.
The process is secure and structured in three steps, with the same low fees as Chexy Wallet.
When you make your first payment, you may be asked to verify your identity by verifying your account.
After your card has been debited, it takes 3 business days for the payment to be sent to CRA or Revenue Quebec. Please allow up to 5 additional business days for the payment to be processed and posted to your account.
Chexy’s transaction fees are the lowest compared to PaySimply and Plastiq.
Here’s an example of a tax payment to the Canada Revenue Agency:
Paying your taxes via Chexy is only interesting if you want to earn rewards points or cash back.
Very few credit cards offer enough cashback for this type of transaction to offset the 1.75% fee. However, we can consider these everyday cards, with which it might be beneficial to pay your taxes:
With these, you get a net gain of 0.25% (2% – 1.75%).
As we often say, it is recommended to use Chexy, PaySimply or Plastiq for credit cards offering a large welcome bonus and requiring significant minimum spending within a few months.
For example, paying $100 in transaction fees to obtain the equivalent of $1,000 in points is a nice bonus!
Here are the Visa and American Express credit cards offering the best welcome bonuses in Canada right now:
Chexy and Aeroplan have launched a multi-year agreement allowing members to earn more points by paying for their essential expenses. To mark the occasion, Chexy and Aeroplan are launching a limited-time offer allowing new members to earn up to 7,000 bonus points, and up to 9,000 points when combined with the Chexy and Aeroplan offer on tax payments.
These services represent an excellent opportunity to:
However, the interface is in English only.
With some of the lowest transaction fees on the market (1.75% for Canadian cards), Chexy becomes a very attractive option for earning more points, especially when using cards offering a return of 2% or more.
Read our guide to learn more about our tips for paying taxes with credit cards.
Yes, Chexy allows you to pay your taxes to the CRA and Revenu Quebec by credit card with fees of only 1.75%. The payment is processed within 3 business days and appears in your government account within an additional 5 days.
For individual accounts, Chexy tax fees are 1.75% for Canadian cards (Visa, Mastercard, Amex) and 2.5% for international cards. This is currently the most competitive rate in Canada, compared to PaySimply (2.49%) and Plastiq (2.5%).
It’s worthwhile if you use a card offering at least 2% back, such as the Scotiabank Platinum American Express Card or the SimplyCash American Express. You’ll then get a net gain of 0.25% while accumulating points on an expense that is normally not eligible.
Chexy accepts payments to the Canada Revenue Agency (CRA) and Revenu Quebec. The system verifies your social insurance number and processes the payment securely directly to these government agencies.
The MILES15 code offers $15 off for new members on your first recurring payment via Chexy, but is not applicable to one-time payments such as taxes.
Savings are this way (if you don’t see the signup form, click here):
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