Chexy: Pay Rent with a Credit Card and Earn Points!

Most landlords refuse to take credit or even debit cards as payment. Frankly, there’s little upside for landlords to do so, given that they’d have to pay merchant fees each time you pay with a card.

Rent is therefore one of the few major expenses you couldn’t charge to your cards, and as rent in Canada soars, it’s a pity that you couldn’t use it to get credit card perks to ease the burden even a little.

Enter Chexy, a Canadian digital platform that effectively lets you charge your rent on a credit card – and you’d be happy to know that they even take American Express.

What Is Chexy?

Chexy is Toronto-based startup that lets you pay your rent using a credit card (for a nominal fee), electronic funds transfer (EFT), and soon, debit cards.

Chexy not only makes payments more convenient, but also allows you to earn perks and rewards, and even build credit through the Chexy platform in the future.

The concept is similar to RBC Ventures’s GetDigs, which was unfortunately shut down in late 2020. Chexy is here to stay, though, and it has big ambitions to grow in the rental and payments space.

How to Pay Rent Through Chexy

Note that Chexy currently supports paying rent to landlords who accept Interac e-Transfer. Payments via cheque and building management services are not currently supported by Chexy, though there are plans to add these in the future. 

To create an account with Chexy, you’ll only need to put in your full name, email, and password.

Upon signing up, you’d then be asked to fully set up your account and payments.

For this process, you’d first need to enter your landlord and rental information, including your monthly rent and payment date.

Then, as a verification measure, you’ll need to link a bank account through a secure portal and upload your lease.

Once your lease has been uploaded, you’re ready to set up your credit card and start paying rent. Chexy will charge your credit card four days before your rent due date, and…