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Fee-Free Dollars

The Plastiq Team
  • Updated

Fee-Free Dollars (or, "FFDs") are credits you can earn with Plastiq. You can apply FFDs to your payment to reduce the portion of your payment that is subject to our standard service fee. 

Essentially, 1 Fee Free Dollar = 1 dollar sent without the Plastiq Fee. 

For example, 100 FFDs applied to a $150 payment will result in our standard service fee being applied to only $50 of your payment. FFDs do not reduce the principal amount of your payment. 

You can earn FFDs through promotions and our referral program. If your account is eligible for a promotion, we will notify you directly. 

Applying FFDs

  • If you have earned FFDs, the available balance will be shown during the payment submission process. 

    During the payment submission process,     you will have the opportunity to apply those FFDs to your payment to reduce the Plastiq fee. To apply FFDs, click the Apply Fee-Free Dollars link when choosing your payment method.

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  • In this example, we have enough FFDs to apply towards the entire payment so we avoid paying the fee altogether by using FFDs. If we had fewer FFDs in our balance, we'd still have to pay the Plastiq Fee on the remaining principal. 

    For example, applying only 1,000 FFDs to this payment means we'd need to pay the Plastiq fee (2.85%) on the remaining $1,500.

    If you change your mind and want to save your FFDs for another payment, you can click the "Remove Fee-Free Dollars" link in the Amount section. 

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Expiration

Fee-Free Dollars (FFDs) are a great way to maximize your rewards earnings on the payments you make with Plastiq, but your FFDs do have an expiration date. Once you're credited with new FFDs, they will expire after 90 days. 

There are a few other things to keep in mind about FFD expiration:

  1. Earning new FFDs resets the expiration timer for your entire balance. Using your FFDs will also reset this timer.

  2. FFDs that have been applied to your payment will not expire. Even if that payment is set to process beyond the 90-day window. 

  3. The expiration date cannot be extended. The only way to reset the expiration timer is by receiving new FFDs or applying your FFDs to payments.

If you have any further questions about your FFD balance, please email our support team at plastiq-service@plastiq.com or reach out via live chat on our website.

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