Chexy offers two types of payments—Recurring Payments and One-Time Payments—each designed for different billing needs. Here's how they work and how to decide which is right for you.

Which Should I Choose?

Choose Recurring Payments if your bill is the same amount every month and is due on a regular schedule (e.g., rent, condo fees, subscriptions).

Choose One-Time Payments if your bill has a variable amount, is not monthly, or is a one-off payment (e.g., utilities, tax payments, a security deposit).

Recurring Payments:

Payment Methods: Pre-Authorized Debit (PAD), Interac e-Transfer, and Bill Pay.
Charge Timing: Your credit card is charged either immediately when you set up the payment, or 4 business days before your due date, based on your choice.
Payment Release: On the due date, we release the payment to your payee.
You set up your recurring payment once, and Chexy automatically processes it every month.

One-Time Payments:

Payment Methods: Bill Pay, Pre-Authorized Debit (PAD), and Interac e-Transfer.
Charge Timing: Your credit card is charged immediately when you submit the payment.
Payment Release: The payment is sent to your payee 3 business days later.
One-time payments cannot be scheduled in advance.

Currently, recurring payments are processed on a monthly basis only. We are exploring options to support additional frequencies in the future.

Note: Chexy does not support payments via cheque. Our available payment methods are Pre-Authorized Debit (PAD), Interac e-Transfer, and Bill Pay.

When to Use a One-Time Payment

There are certain situations where a one-time payment may be a better option than a recurring payment:

Payments that are not monthly.
Payments where the amount varies each time and you want to ensure the correct amount is sent.
Payments you only want to make once, such as tax payments, a security deposit, or a single payment.

Your credit card will be charged immediately when you submit a one-time payment, and the payment will be sent 3 business days later.

For Bill Pay, your payee must already be set up as a registered Bill Pay payee.

One-Time Payment Processing Timeline

The processing timeline for one-time payments follows these steps:

Day 0: You complete your payment through Chexy, and your credit card is charged immediately.
Day 3: Chexy sends the payment to your payee.
Up to Day 8: For Bill Pay specifically, your payee may take up to 5 additional business days after the payment is sent to officially mark the bill as paid, depending on their processing times.

All timelines refer to business days and may be impacted by weekends, holidays, or delays at the payee's financial institution.

Chexy does not have access to your payee's banking details, so we are unable to confirm exactly when the payment has been processed on their end.

How Will I Know When My One-Time Payment Is Complete?

Once your payment has been sent, Chexy will email you a payment confirmation letting you know that the payment has been processed on our end.

However, because Chexy does not have access to your payee's banking details, we are unable to confirm exactly when the payment has been applied to your account.

To check if the payment has been fully processed:

Monitor your account with your payee to see when the payment is marked as received. For Bill Pay, it may take up to 5 additional business days for your payee to mark the bill as paid.
Contact your landlord or payee's finance team if the payment has not been marked as received after this period. We recommend checking directly with your payee for updates.