Chexy Flex lets you split a single large one-time payment into two scheduled installments instead of paying it all at once. This article explains how Flex works, what it costs, who's eligible, and how it's repaid.
Good to know: Flex is a separate, optional installment product available in Alberta, British Columbia, and Ontario. It's for one-time payments only (not recurring rent), and approval is never guaranteed — eligibility is checked on each payment.
What is Chexy Flex?
Flex splits one eligible one-time payment into two installments: the first is due at checkout, the second 14 or 28 days later (your choice).
Credit for a Flex Plan is provided by Chexy Inc. as the lender. Each Flex Plan is a single, fixed arrangement.
You set up a new Flex Plan each time, on a payment-by-payment basis.
Before you confirm, Chexy shows you a Flex Plan Disclosure with the exact amounts, fee, APR, due dates, and total — which you can keep.
Who can use Flex?
You can be offered Flex on a payment only if all of these are true:
You use a personal (consumer) account — Flex isn't available for business accounts or business payments
You've reached the age of majority in your province
You're a resident of Alberta, British Columbia, or Ontario (Flex isn't available in Quebec yet)
The payment is a one-time eligible payment shown as Flex-eligible at checkout
The payment amount is over $3,000 (before fees and taxes)
The deferred portion (the part due in the second installment) is over $1,500
You pass Chexy's risk, fraud, affordability, and compliance checks
You have a valid funding method on file
Flex is decided payment by payment, so it may not be offered or approved for every eligible payment.
What does Flex cost?
You pay a fixed Flex Fee based on the schedule you choose. It's split evenly across your two installments.
Schedule | Flex Fee | How it's collected |
14 days | 0.5% of the payment amount | Half with each installment |
28 days | 1.0% of the payment amount | Half with each installment |
There are no late fees, no default fees, and no interest on a Flex Plan.
Worked example
A $4,000 payment on the 28-day schedule (1.0% Flex Fee = $40 total):
At checkout | In 28 days | Total | |
Principal | $2,000 | $2,000 | $4,000 |
Flex Fee | $20 | $20 | $40 |
You pay | $2,020 | $2,020 | $4,080 |
Plus any payment processing fee if you fund with a credit card (see below). Exact figures, APR, and total cost of borrowing are always shown in your Flex Plan Disclosure before you confirm.
Funding method affects what you pay
Debit: no payment processing fee.
Credit card: a payment processing fee may apply, at your usual Chexy rate (based on your card type). The rate and dollar amount are shown before you confirm.
How to set up a Flex Plan
At checkout on an eligible one-time payment, select Flex (if it's offered for that payment).
Choose your schedule — 14 days or 28 days.
Review the Flex Plan Disclosure: installment amounts, Flex Fee, APR, due dates, and total amount payable.
Confirm. Your first installment is charged at checkout, and the second is automatically charged on its due date.
A Flex Plan is only created once you review the disclosure and confirm. If Chexy doesn't approve it, no Flex Plan is formed.
If a payment is missed
Chexy may notify you, ask you to update your funding method, and retry the charge.
While an amount is outstanding, Chexy may pause your access to new Flex Plans (and possibly other features), but you remain responsible for what you owe.
Credit reporting
Chexy may report Flex Plan information (status, payment history, missed or on-time payments) to consumer credit bureaus where permitted by law. Not all Flex Plans may be reported at launch, but reporting may begin in the future. Where it applies, missed or late payments could negatively affect your credit, and on-time payments may be reported too.
Refunds & cancellations on the underlying payment
How a cancelled, reversed, or failed payment is handled depends on timing:
Before Chexy completes the payment (e.g. it's declined or not approved): no Flex Plan forms, and any hold is released.
If the payment succeeds and you later request a refund: your Flex Plan stays payable until Chexy receives returned funds or confirms a refund.
This doesn't limit any non-waivable refund, cancellation, or chargeback rights you have under applicable law.
A few things to know
Flex is currently for one-time payments only — not recurring rent or automatic repeat use.
Flex is offered only in Alberta, British Columbia, and Ontario for now; Chexy may expand to more provinces later under separate terms.
The cost and schedule of a Flex Plan are fixed once you confirm it and don't change afterward (except for refunds or corrections).