Summary Chexy is an online tool that allows Canadians to use their credit cards for payments that lack credit card acceptance options. It’s suitable for personal and business users who want to earn cashback, rewards, or credit card points on large bills, such as rent, tuition, taxes, supplier payments, and payroll. Price: Starts at 1.75% per transaction Check out Chexy: Website | |
| Pros: ✅No monthly fee (except for enterprise users) ✅Extends credit card protections to large bills ✅Expands credit card reward potential | Cons: ❌No phone support ❌Does not support debt repayments |
Chexy is a financial technology (fintech) platform that lets Canadian renters, homeowners, and businesses pay bills via credit card, even when the recipient doesn’t accept card payments. Acting as a third-party intermediary, it gives your funds an extra layer of protection while offering additional opportunities to earn cashback, rewards, and points.
How Does Chexy Work?
Chexy essentially acts as the bridge between your credit card and your biller. You pay Chexy with your credit card, and it forwards the funds to your biller using their preferred payment method. Available payment channels include:
- Interac e-Transfer
- PAD
- Bill Pay
- EFT or direct deposit
Paying through Chexy lets you earn credit card rewards on bills that traditionally rely on bank transfers or other non-credit card payment methods. Bills typically supported through Chexy include:
- Rent
- Utilities
- Tuition
- Childcare
- Taxes
By default, Chexy payments are immediate and one-time. However, you can also schedule them in advance or set up recurring payments. This saves time, reduces mental effort, and eliminates the risk of missed payments.
How Much Does Chexy Cost?
Chexy generates revenue by taking a percentage of the money you run through it. Users, with the exception of enterprise accounts, don’t need to pay monthly subscriptions outside of this small fee. The fee amount depends on your credit card type, your account type, and the expense category.
| Individual Users | Business Users | Enterprise Users | |
|---|---|---|---|
| Monthly fee | N/A | N/A | Starting at $100,000 per month |
| Canadian (Visa, Mastercard, Amex) credit card processing fee | 1.75% | 1.99% | Custom |
| International credit card processing fee | 2.5% | 2.75% to 3% | Custom |
| Supplier & payroll payments | Not available | 2.4% | Custom |
Individual users pay the lowest transaction fees. Business users pay higher fees on domestic and international credit card transactions, but gain access to supplier and payroll payments. Meanwhile, enterprise users pay a monthly fee of $100,000 or higher for custom pricing on all transaction types.
Why Use Chexy?
Chexy gives you all the benefits of credit card use while supporting bills that traditionally required non-credit card payments.
To earn rewards on large purchases
Chexy’s main selling point is its reward potential. The platform enables you to earn credit card rewards (such as points, miles, and cashback) on expenses that traditionally lack the infrastructure to support credit card payments. Since these bills are often your largest monthly expenses (i.e., rent, tuition, taxes), earnings can be pretty substantial.
The opportunity to use your credit card for large purchases also makes it easier to meet minimum requirements for welcome bonuses and other promotions. For example, if your new credit card requires a minimum spend of $3,000, you can easily meet this threshold by paying rent.
To build credit
The two factors Canadian credit review authorities give most weight when calculating your credit score are your payment history and credit utilization. They reflect how often you borrow money and how responsibly you handle these funds. When you use your credit card for your large purchases, you build a consistent record of activity and repayment, which naturally boosts these factors.
Chexy also provides a Credit Builder feature, which automatically schedules rent and lease payments, then shares on-time payment reports with the credit bureau Equifax. This gives lenders strong and consistent evidence of your ability to meet payment obligations reliably.
To safeguard payments
When you pay via e-Transfer, bill pay, or pre-authorized debit, you put your bank funds at risk. Meanwhile, Chexy allows you to maintain card-level protections on all payments. This means that if you fall victim to fraud or billing errors, you can still file a dispute with your card issuer.
To simplify expense tracking
If you’re somebody who uses your credit card for the majority of your expenses, Chexy’s a great way to simplify expense tracking. Paying rent, utilities, taxes, tuition, and other bills with your card puts everything into one organized statement, making expenses easier to search through and review.
To take advantage of promotions
Chexy often offers limited-time promotions with partner credit cards, such as Amex and Aeroplan. Actions like creating a Chexy account and meeting spending limits earn you additional bonus points, increasing the overall reward potential of your spending.
Does Chexy Have a Mobile App?
Chexy is available in iOS and Android forms. The mobile app offers most of the same functionality as the browser app, allowing you to:
- Add recipients or billers
- Pay bills
- Set up payment schedules
- Link credit cards
- View transaction history
- View rewards earned
When Not to Use Chexy
While Chexy is a great tool for renters, homeowners, and enterprises, there are a handful of situations that it cannot accommodate.
You intend to use it for debt repayment
Chexy only supports bill payments. Currently, you cannot use it to pay off any form of debt, such as credit card balances, personal loans, and mortgages.
The rewards cannot offset fees
In most cases, larger bills can generate enough rewards to offset Chexy’s transaction fee. However, if your credit card earns low rewards or your expenses are relatively small, the return on using Chexy may be limited.
To help you decide whether Chexy is worth using, the website provides a rewards calculator that helps you estimate your earnings based on your monthly bill total. It provides an estimate for nearly all known Canadian credit card providers, and highlights which cards may result in fees exceeding rewards.
Your biller does not accept Chexy’s preferred payment methods
Chexy only accepts payments via Interac e-Transfer, PAD, Bill Pay, EFT, or direct deposit. If your primary billers lack the infrastructure to support these payment channels, you might find Chexy limiting.
Customer Support
Chexy’s available customer support channels are email and chatbot. It does not offer customer support via phone, which can be inconvenient for users who prefer resolving issues through live conversations. However, the platform aims to resolve issues within 10 days and provides updates if additional time is necessary.
Can You Use Chexy Outside Canada?
While it is possible to access Chexy from outside Canada, it is difficult to use it in a meaningful way. The platform is designed specifically for Canada’s payment infrastructure. It supports Canada-only payment channels like Interac e-Transfer and bank bill pay, and relies on local biller directories and bank integrations to deliver payments.
Bottomline
Chexy is a platform with a few significant limitations and virtually no cons. Signing up lets you extend the privileges of credit card use, from rewards to security, to large bills. It’s a great way for renters, homeowners, and business owners to increase their credit card spending return.
If you’re unsure if Chexy is right for you, check out their rewards calculator. It comes with a list of 66 Canadian credit cards and estimates whether rewards earned from credit card spending can offset Chexy transaction fees. You can filter cards by issuer and reward type for easier search.
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