There’s a new way to maximize credit card rewards at a fraction of the cost! Canadian company Chexy, already renowned for its credit card rent payment services, is launching two exciting new features.
The first new feature lets you pay bills and taxes with a credit card, while offering 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:
Get $15 off your next Chexy payment by creating your account here.
If your company or organization is not listed, please contact Chexy customer service so that 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 are not accepted by Chexy.
The best credit card for paying recurring bills on Chexy is the Scotia Momentum Visa Infinite Card. With this card, you earn 4% on recurring payments and subscriptions. That means you’ll make a net profit of 2.25% on every payment!
This new Chexy feature allows you to pay 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 enabling members to earn more points by paying for essential expenses. To mark the occasion, Chexy and Aeroplan are launching a limited-time offer of up to 10,000 bonus points.
These new services represent an excellent opportunity for:
However, the interface is in English only.
With transaction fees among the lowest on the market (1.75% for Canadian cards), Chexy becomes a very attractive option for accumulating more points, especially when using cards with a yield of 2% or more.
Read our guide to learn more about our tips for paying taxes with credit cards.
Savings are here (if you don’t see the sign-up form, please click here):
