The Offer
- Plastiq offers $1,000 in free payment processing (processing fee is waived) when referring a friend to use their payment system
- The new member will get $500 in free payment processing
Previously, the bonus was $400/$200, now they’ve switched it to $1,000/$500. Not all is rosy, though, as previously the new member only had to spend $20 to get the bonus and now they have to spend $500.
The Fine Print
- In order for the bonus to apply, the new member must spend $500; this $500 can be split up into multiple smaller payments and will still qualify
- According to our Plastiq contact, the new member will not get their first payment free. Rather, they’ll pay the regular fee for the first $500 which lets you both qualify for the bonus. After that, they’ll get the next $500 in free processing + you’ll get $1,000 in free processing.
Our Verdict
Seems like this will be the permanent referral bonus going forward.
Please do not leave any referrals in the comments here, instead head over to our dedicated Plastiq referral thread and leave it there. We’ve also updated the information in that post to reflect the new bonus offer.
View Comments (33)
Please use my code : [removed] You will get $500FFD
pretty good service so far.
use this promo to get some fees reduced.
[edited]
@Chuck
If the referred person already has 500FFD and uses them to pay over $500 rent payment will the referrer get the 1000 FFD ?
TIA
Am I confusing this or something?
To me it seems more profitable to use the offer where you get $400 fee-free since you only have to spend $20 to get it.
vs. if you need to spend $500 to get $500 you'll pay more in non-fee-free.
Makes sense?
Yeah, in some ways the old system was better.
i understand that the referred user must spend $500 before FFDs will be applied to him (and referring user of course), but what is not clear for me - if this $500 must be a separate transaction or not. I mean, if the user will make his first payment of $1000 - will the 500 FFDs applied to that amount? or the whole $1000 will proceed with a fee and FFDs will be added _after_ that?
Since Plastiq generally charges 2.5%, this means for $1000 I would save the person I referred $25, correct?
No, you save the $25 fee on $1,000 in payments. They save $12.50 fee on $500 in payments.
Can anybody clarify about using Visa Vanilla gift cards purchased from H-E-B (Texas grocery store, fyi, though not sure it matters where they are from) to make debit card payments on Plastiq. From reading Plastiq's rules looks like these should be charged a 1% fee, though I see elsewhere mention that they are charged like a credit card -- 2.5%
Thanks in advance.
I believe all gift cards are treated as credit.
Wow these spammers should be banned.
ffs Any chance for a match?
no match, just chatted with a csr "supervisor"
On another note, I had 3 friends and DoC referrals from the 400/800 promotion. Only 2 posted as 800 and one posted as 400 (assuming that referral got 200 vs 400. Requested a fix and they actually expect me to contact all my referrals for transaction numbers to identify which one went through incorrectly. Nothing on my end to be able to identify the qualifying referrals. Strike one!
I didn't get the $400 FFDs for signing up, but did get $800 FFDs for a referral. It turns out, I suspect, that the person who referred me (on DoC) did not make their $20 payment to qualify for their bonus, and therefore did not qualify to make the referral. Not gonna lie, I feel a bit burned by the referral page.
Are you sure this is correct? If you sign up with someone else's referral link, does that person also have to make a payment for you to get your FFD?
With the 3x Chase Sapphire Reserve gets on Plastiq, I don't know you wouldn't want to make large payments with Plastiq.
@Dave
Since the person you are referring to get's nothing initially why would they use the referral link?
I mean they have no incentive to sign up. Do they?
Anna, the new member has to spend $500 to get the 500 FFD and for the referrer to get the 1000 FFD. But Steven above said he didn't get the 400 FFD when he signed up and thinks that it's because the person who posted the link didn't make the $20 transaction. My point is that the existing member making the referral has no need to make any payments.
I looked it up on their website and this is what they say:
Please note our referral program does not award you for just signing up. You must make a payment or payments totaling $500 or more to earn the reward.
Hope this helps.
glass half full my friend. you win some you lose some. sounds like you won with getting at least one referral and savings of $30+...
I used actual friends and family as well btw
I'm in the same boat - signed up and referred next person for the 400/800 bonus. So it's worth noting that the lost $300ffd is only $7.50 actual dollars. Not too big a deal.
I do my little contribution and show gratitude for DOC by not using the referrals when clearly stated not to do it. Hope everyone who appreciates this site do the same
+1
+1