Update ~2:39 PM: Thanks to reader Mike who indicates the fee is now being reflected. I’ve also verified that on my own account. Hopefully someone was able to get in some scheduled bill pays.
This is a slightly confusing situation. I received an email from Plastiq yesterday with the following text.
As you may know, at Plastiq we’re always working on ways to offer the very best service at the lowest possible price. Last year this commitment led us to offer a promotional debit card fee rate of 0%. This will be ending effective today, February 9th, at 5pm PT.
However, due to the overwhelmingly positive response to reduced debit fees, we’re excited to offer an on-going reduced rate of 1% for personal debit card payments (rather than the standard 2.5%).
I’ve also spoken with a representative named Miguel via the Plastiq website chat who said
Miguel: Yes, we have ended our 0% debit card service fee
Miguel: Starting today any payments you make will be at the 1% service fee for personal debit cards.
Miguel: Any scheduled payments you have, will keep the locked in rate as long as you do not edit them.
I also sent an email about it and received the following response:
Thanks for reaching out to Plastiq support. We did send email about the rate for debit card payments.
I do apologize, but unfortunately this debit card promotion was only available for a limited time.
Please do keep an eye out for future promotions, as this was one of many more to come.
However, when I personally try to add a new payee, it still shows as having a 0% fee for debit cards.
The same may not be true for you, so you should check it out. There’s no harm in just setting up the payees now if you know them (I’m not suggesting you have to actually schedule any payments; just add the payee information).
This is especially useful if you have any rewards debit cards and bills that need to be paid by check.
As a note for people willing to do some extreme MSing, it’s definitely possible to use Plastiq with rewards debit cards to MS.
So it’s a no cost option to setup the payees right now, and it might actually prove useful for you if you have a rewards debit card.