Update 10/30/23: Amex is back now
Plastiq has announced that due to ‘operational issues’ it will no longer accept American Express cards. Given that Plastiq now charges a 2.9% fee I doubt many people were using it anyway but thought it was worth mentioning as some people were using it to meet minimum spend requirements.
So I logged into Plastiq just now on Feb 13th and my Amex cards are still in my wallet. I also tried adding a new Amex card and it worked (although I didn’t try to make a payment).
Is this exclusion for Amex cards perhaps targeted?
try making a payment with the card, a banner will popup saying you cant.
Are there any good alternatives to Plastiq that accept Amex for rent and do not the landlord to be on the platform?
Me and P2 have been churning the Amex biz platinum for the past 2 years, putting all rent on the card via Plastiq. Im disappointed to learn of this change
Melio does…however, they’ll only let you pay the portion that you write off as a business expense. I had to submit documentation.
Thanks. May I ask what documentation is required? Like could I submit a form from the IRS that shows my EIN and address?
Yes, if it shows that you wrote off your rent. If you haven’t filed yet, they’ll need a copy of your lease to see the full amount of your rent and you need to tell them how much of that is being written off as a business expense. If you have an EIN, you can probably avoid all of this by signing up w that and not your SSN like I did.
Announcement in Plastiq Website:
https://support.plastiq.com/s/article/American-Express-Card-Policy
At the end of the day, it’s a loss for everyone, plastiq, consumers, and AMEX as well.
Re-occuring charge processed today (2/10/23). I also have not received any notice or see any notification when I log in.
Plastiq cancelled all my Amex recuriing charges today.
If you are using Plastiq to make a payment, make sure the payment actually makes it to the receiver. I had 2 payments that I found out never made it, and one was over a year old. Plastiq did not tell me or follow through with it. I did get refunded for them, but only after I initiated it.
Aren’t they bankrupt yet?
Years ago, I had used Plastiq for certain bona fide payments. Rotten customer service. Funny how the karma is circular.
What karma? Plastiq is not the one suffering here.
I haven’t seen this announcement anywhere. I just did a payment on plastiq using an amex and it worked fine.
Received an email today:
“Due to operational issues, Plastiq will no longer accept American Express. Any AMEX cards currently added to your Plastiq wallet will be removed and processing for AMEX will end, effective February 10, 2023.”
I have recurring transactions setup
I snuck in a payment last night around 10pm pacific time. Idk when this totally goes offline, but it still worked at that time.
Plastiq can still make sense when there’s a fee promotion. Whenever I get a new Visa Business card, I enroll in the Visa Savings Edge program for the ongoing 1% cashback on up to $2.5K in Plastiq payments. I then make $2.5K in payments to vendors that don’t accept credit cards in order to meet the new card’s SUB.
This is very helpful.
Interesting. On an unrelated note, how much does your consulting practice charge to do pivot tables for boomers at large corporations?
Thank you for this. Just what I needed.
Bye plastiq