Have you ever wished you could put a big payment, like a wedding deposit, renovation bill, or tuition, on your credit card, only to find out the vendor doesn’t accept credit cards?

Chexy’s new one-time payment (OTP) feature solves that problem. You can now pay any vendor up to $10,000 with your credit card, even if they don’t accept credit card payments directly. Here’s how it changes the game. 

Who It’s For (And How You Can Use It)

You can make one-time e-Transfer payments via Chexy using your credit card for almost any payment or vendor you can think of. Some common use cases include:

• Weddings: Venues, photographers, caterers, florists, makeup artists–those big-ticket costs add up. 

• Home renovations: Contractors, interior designers, anyone in the trades. 

• Education: Tuition payments or private school fees. 

• Other large expenses: Medical bills, moving companies, piano lessons, or anything that usually requires an e-Transfer. 

Bottom line: if the vendor accepts e-Transfers, you can send them a payment via Chexy and still be rewarded for using your credit card. 

How It Works 

Using Chexy to send a one-time payment to a vendor or contractor is simple. Here’s how it works:

1. Log into your account or sign up for Chexy. 

2. Select “Set up a one-time payment.”

3. Select the payment category, and enter their e-Transfer details. 

4. Add your credit card information or choose the correct one on file. 

5. We send the payment directly by e-Transfer, and they receive the payment 3 business days later. 

6. You earn points or cashback, just like any other credit transaction. 

There’s no need for them to sign up, meaning no awkward conversations and no changing the way they receive their payment. However, ensure you send the payment at least 3 business days before the due date, as we use this time to process your payment. 

What’s the Cost?

There’s a small 1.75% transaction fee on all payments made with Chexy, but this is the lowest in the market. The rewards you earn can easily outweigh the small fee, especially if you’re hitting a sign-up bonus or a high-earning rewards card (or both!). 

Here’s an example:

• Payment to vendor: $7,000

• Chexy fee: $122.50 (1.75%)

• Rewards earned on a 4% cashback card: $284.90

• Net rewards: $162.40 

Plus, you get the benefits below.

Key Benefits of One-Time Payments 

Here are the main benefits of using Chexy for a one-time payment of up to $10,000:

Earn Rewards on Big Payments

Use a credit card with strong points or cashback to get something back on those large expenses. 

For example, the Scotia Momentum Visa Infinite earns 4% cashback on payments made through Chexy. Prefer travel rewards? The American Express Cobalt earns 1 point for every dollar spent, and the Amex Aeroplan Reserve earns 1.25x the Aeroplan points on every purchase. 

These points can quickly add up to free flights when you’re making big payments. 

Hit Welcome Bonuses Faster

Many top credit cards offer huge welcome bonuses ($500+ in value or 100,000+ points) if you reach a minimum spend in the first few months. Using Chexy for big-ticket payments, whether it’s a wedding deposit, tuition, or renovations, can help you hit that threshold much faster, meaning you can go on your dream vacation sooner than you think.

Improve Your Cash Flow 

Big payments can hit you hard if they’re due all at once. With Chexy, you can put the large expenses on your credit card and take advantage of your card’s grace period (usually between 21 and 55 days). 

This extra breathing room can be a game-changer for your monthly cash flow. Just be sure to pay off your credit card in full by the due date; otherwise, you’ll end up owing more in interest. 

Skip the Personal Loan

Instead of taking out a large personal loan or line of credit, Chexy lets you use your existing credit card for big expenses. That means more flexibility, less paperwork, and you can take advantage of your credit card’s interest-free grace period rather than being locked into traditional loan terms.

Nothing Changes for Your Vendor

One of the biggest benefits of using Chexy is that your vendor doesn’t have to do anything differently. They receive an e-Transfer as they would, so they don’t need to change how they get paid. 

Best Credit Cards to Use for Large Payments

Not all credit cards are created equal. To get the most out of using Chexy (and negating that 1.75% fee):

• Use cards with high cashback or points multipliers (think flat-rate 2% to 4% cashback or premium travel credit cards).

• Time sending these payments with hitting a credit card’s welcome bonus, as big transactions help you reach those spend thresholds fast. 

• Cards with purchase protection and extended warranty can add extra peace of mind. 

Let’s say you pay your contractors $7,000 with Chexy to complete a portion of your home renovations. Here are a few of the best credit cards you can use: 

The Scotia Momentum Visa Infinite Card:

• Chexy fee: $122.50

• Cashback earned: $284.90

• = $162.40 net cashback 

The American Express Aeroplan Reserve Card:

• Chexy fee: $122.50

• Points earned: 8,903 (~ $195.87 in value)

• = $73.37 net rewards

The American Express Cobalt Card:

• Chexy fee: $122.50

• Points earned: 7,122.50 (~ $149.57 in value)

• = $27.07 net rewards

As you can see, the cards you use make a drastic difference in the amount and type of rewards you can earn! 

Get Started: Make Your First Payment With Chexy 

Whether you’re planning a wedding, doing your first home renovation, or covering tuition fees, our new one-time payment feature lets you take control of your finances–and how you get rewarded. 

✅ Pay any vendor by e-Transfer, even if they don’t accept credit cards

✅ Earn valuable points or cashback on payments up to $10,000

✅ Keep your vendor happy with no sign-up or extra steps required on their end

Ready to turn your next big payment into a huge reward? Get started with Chexy today.