Chexy Wallet 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.
Recurring Payments
✅ Best for: Bills that are paid monthly and have a fixed amount (e.g., rent, condo fees, subscriptions).
✅ Payment Methods: Pre-Authorized Debit (PAD), Interac e-Transfer, and Bill Pay.
✅ How It Works:
You set up your recurring payment once, and Chexy automatically processes it every month.
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.
On the due date, we release the payment to your payee.
⚠️ Important: Currently, recurring payments are processed on a monthly basis. We are exploring options to support additional frequencies like weekly, bi-weekly, or quarterly payments in the future.
One-Time Payments
✅ Best for: Variable bills (e.g., utilities) or when you need to make multiple payments in a month.
✅ Available for: All three payout methods: Bill Pay, Pre-Authorized Debit (PAD), and Interac e-Transfer.
✅ How It Works:
You manually schedule a one-time payment when needed.
Your credit card is charged either immediately when you schedule the payment, or 4 business days before the scheduled payment date, based on your choice.
On the scheduled date, we send the payment to your payee via the payout method selected.
Which One is Right for Me?
Choose Recurring Payments if you have a bill that is the same amount every month and is due on a regular schedule.
Choose One-Time Payments if your bill has a variable amount or you need to make a non-monthly payment.