Now you can pay all your bills using Chexy — even the ones your credit card could never touch.
We're introducing Chexy Wallet to expand the types of bills you can pay through Chexy. Payments for Affirm, credit card bills, car loans, and other loans can now be paid using your Wallet — bills that used to be completely off-limits.
This expanded bill coverage is for personal (consumer) accounts only — it does not apply to Business accounts.
Here's what Wallet gives you
Interest on your balance, just for keeping money there
CDIC insurance on eligible deposits
NSF protection — extra time to top up if a payment would overdraw you
Control over withdrawals — approve or reject new billers before they can pull from your Wallet
Better benefits on better plans — more interest, more NSF protection, lower fees
Pay bills you couldn't before
With Wallet, you're no longer limited to the usual bills. You can now pay things like:
Credit card bills (Visa or Mastercard — not Amex)
Car loan and financing payments
Buy Now Pay Later providers, like Affirm
Brokerage and investment account payments
These payments can go out through any of Chexy's payment methods — Pre-Authorized Debit, Bill Pay, or e-Transfer — as long as the recipient is eligible. Just load your Wallet the usual way, via Visa Direct (debit) or your linked bank account.
This doesn't change how you already pay your other bills. Everything you currently pay by credit card — rent, utilities, and more — still works exactly the same way. Wallet is additive, not a replacement.
Credit card vs. Wallet: what's the difference?
| Credit card payment | Wallet payment |
Funding source | A credit card on file | Your Wallet balance (loaded via Visa Direct or linked bank account) |
Example bills | Rent, utilities, insurance, taxes, childcare, household expenses, telecom, car lease, gym | Credit card bills, car loans, Affirm/BNPL, other loans, brokerage/investment accounts |
Card network rules | Varies by category — Visa/Mastercard/Amex, or Visa/Mastercard only for some | Visa / Mastercard credit card bills only — no Amex |
Delivery method | Credit card charge | PAD, Bill Pay, or e-Transfer — whichever the recipient accepts |
Account type | Personal and Business | Personal only — not available on Business accounts |
Payment limit | Varies by category | Up to $70,000 per payment, same as other PAD payments |
Why use Wallet instead of a credit card? Chexy doesn't let you charge a credit card to pay off another credit card, a car loan, or a brokerage account — so for these bill types, Wallet is the only path. It also means any money sitting there earns interest in the meantime, and comes with NSF protection and withdrawal control built in.
The details
1. Interest on your balance
Any money you keep in your Wallet earns interest automatically — you don't have to do anything extra to benefit from your bill money sitting with Chexy.
Interest is quoted annually, calculated daily, and issued monthly.
It's deposited to your Wallet within 2 weeks after the end of each month.
Your rate depends on your membership plan:
Plan | Interest rate |
Free | 2% |
Essential | 2.5% |
Plus | 3% |
To start earning interest, you need to opt in on the Wallet page and provide your SIN. Without a SIN on file, you won't be able to collect interest. Your SIN is encrypted and stored securely.
2. More time to cover a bill if you're short (NSF protection)
If a biller tries to withdraw money from your Wallet and your balance would go negative, Chexy gives you extra time to top up — instead of the payment failing right away. How much time depends on your plan:
Plan | Extra time to pay |
Free | 2 extra days |
Essential | 7 extra days |
Plus | 14 extra days |
See "How Wallet Works & How to Use It" for exactly how this works and what happens if you don't top up in time.
3. Control over who can withdraw from your Wallet
When a new biller or payee tries to pull money from your Wallet for the first time, you decide whether to allow it. You can approve or reject the request, and once you've made a choice, Chexy remembers it for that payee going forward. This gives you a layer of protection against billers you don't recognize or no longer want to pay from your Wallet.
If you change your mind later, you can always update this choice for any payee in your Recipient settings.
4. A better plan, more benefits
Wallet benefits scale with your membership plan — higher interest, more time to handle NSF situations, lower credit card fees, and more linked cards on Essential and Plus. See our Essential vs. Plus article for the full comparison.