Chexy and Aeroplan launch Canada’s first mortgage rewards program

Chexy, la plateforme canadienne déjà connue pour transformer le loyer, les impôts et les factures récurrentes en points de fidélité, annonce l’expansion de son partenariat avec Aéroplan par le lancement du premier programme de récompenses hypothécaires au Canada. Dès aujourd’hui, les propriétaires peuvent gagner 1 point Aéroplan par dollar payé sur leur hypothèque, directement à partir de leur compte bancaire.

Unlike Chexy’s usual offering, this new feature does not go through a credit card: it is the mortgage payment itself, withdrawn from your bank account, that generates the points.

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:

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:

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.

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