Has anyone paid for your Tesla through Plastiq?

[OmegaZ]

For future owners, let me say something short for you: NEVER USE PLASTIQ!!!

My payment was never delivered. My Tesla sale representative sent me the transaction history record every day to confirm with me. I had to file multiple complaints on BBB and Consumer Financial Protection Bureau. I was almost hiring a lawyer to file a claim against their business. If you go to BBB, there are plenty of people who stepped on the same trap with me through the paid article from Business Insider: A travel hacker snagged himself $5,000 of 'free' travel by using a credit card to buy a $60,000 Tesla

Attachments below are my complaints with them. They still have not resolved my issue. Is it worth for you to go through this whole process like me? Don't, don't ever use PLASTIQ!!!

Imgur

 

[PhilDavid]

Plastiq may or may not be reputable but something in that Business Insider article does not add up.

• Okay so they used Plastiq to pay for their $58,857. Using a credit card for this hardly makes anyone a "travel hacker."
• For using a credit card, it cost them $1,471.42 in fees (2.5%). So whatever benefit they get needs to be greater.
• The Chase Ink card gives you 1.5% back so that would be 882.86 so you are still out $588.56.
• There is no way you can convert a $58,857 purchase to 5,000 worth of travel. No credit card gives you 10% of value back for purchases. If such a card were to exist, they'd promptly go bankrupt.

What Are Points & Miles Worth? August 2018 Values - The Points Guy

Also I don't understand why you are having such a big issue with this. You use Plastiq to pay Tesla so if they don't pay Tesla, you call your credit card company and end of story as they'll take it from there. What am I missing here?

 

[bennettbb]

We've purchased two cars using Plastiq over the years and haven't had a problem. We use them for our mortgage each month, too. For the last year or so you've been able to get 3x points using your Chase card with Plastiq on certain transactions, so that article makes more sense when you consider that.

OmegaZ - Did you send your checks to the right address that Tesla gave you? When we bought our Model X using Plastiq, we learned that we had to send our checks (we split it up between different cards to maximize rewards) to different addresses given to us by Tesla. It was really easy to change them on our Plastiq account for each one. Just curious if you were sending it to the right address since you get a confirmation when they've been cashed by Tesla.

 

[OmegaZ]

We've purchased two cars using Plastiq over the years and haven't had a problem. We use them for our mortgage each month, too. For the last year or so you've been able to get 3x points using your Chase card with Plastiq on certain transactions, so that article makes more sense when you consider that.

OmegaZ - Did you send your checks to the right address that Tesla gave you? When we bought our Model X using Plastiq, we learned that we had to send our checks (we split it up between different cards to maximize rewards) to different addresses given to us by Tesla. It was really easy to change them on our Plastiq account for each one. Just curious if you were sending it to the right address since you get a confirmation when they've been cashed by Tesla.

Perhaps my problem is that I am a Texas resident, where Plastiq uses a shady banking business (called PLV Inc) to proceed my transaction. This company is really suspicious. It does not have website; the phone provided does not even ring; and I cannot locate this bank from the Department of Banking from the government website. On Plastiq website, it even tells the customer to send the complaint to the Texas Department of Banking in advance. The number they provided was a fake number, and the Texas Department of Banking cannot locate the PLV bank. When I sent the message to Plastiq support to ask about this bank, they were playing cat and mouse game with me and try to avoid a direct answer for what is PLV Inc.

Link: Pay Virtually Any Bill with Credit Cards - Terms for Texas Users | Plastiq

On my end, my Tesla sale representative and I have checked the delivery address on Tesla end and on my end through the Plastiq receipt nearly 20 times every time we try to update the transaction history. It cannot be wrong. I also hate the fact that I have to call out the manager name every time I send a message to Plastiq customer services. All the regular employees tried to blame on me that it was my fault, until the manager, Richard Firth (I leave his name here for someone in the future to call him out), stepped out to apologize and opened an investigation for me. This company should not just train the managers and abandon the rest of its workers. It even strengthened my belief that the problem started from one of those Plastiq workers.

In addition, I called Chase to cancel my transaction, but they said that the payment was already proceeded. Therefore, it is very hard to cancel the transaction. Now, I have to spend time at least a few hours a day to work with Plastiq. They tried all their ways to avoid refunding the money to me.

 

[OmegaZ]

Plastiq may or may not be reputable but something in that Business Insider article does not add up.

• Okay so they used Plastiq to pay for their $58,857. Using a credit card for this hardly makes anyone a "travel hacker."
• For using a credit card, it cost them $1,471.42 in fees (2.5%). So whatever benefit they get needs to be greater.
• The Chase Ink card gives you 1.5% back so that would be 882.86 so you are still out $588.56.
• There is no way you can convert a $58,857 purchase to 5,000 worth of travel. No credit card gives you 10% of value back for purchases. If such a card were to exist, they'd promptly go bankrupt.

What Are Points & Miles Worth? August 2018 Values - The Points Guy

Also I don't understand why you are having such a big issue with this. You use Plastiq to pay Tesla so if they don't pay Tesla, you call your credit card company and end of story as they'll take it from there. What am I missing here?

As I said, the article in Business Insider was paid, so some of the information there were not 100% right.

The problem for me was that on Plastiq website, it showed the receipt as "Complete," and they even confirmed with Chase (my credit card company) to make it much harder to refund. When I asked them about the confirmation of transfer payment, they kept sending me the receipt showed ON THEIR WEBSITE. Well, they own the website, so they can put whatever they want right over there. However, until now, even I have sent my complaints to so many sources, I still have not received a confirmation of payment transferred from them. What I received was "We can confirm with you that the payment was already made and Tesla already received it." It s just like you gave the money to your brother to buy a gift for your mother's birthday. He kept the money, said to you that he already gave the gift to our mother. I asked my mother, and she said that she has never received the gift. My mother even provided the confirmation that she has not received anything. Meanwhile, my brother is fooling around and keeps saying that he already bought the gift and gave it to our mother. Who should you trust? What should you do? That's my situation.

 

[MelCel23]

Can someone give a more detailed-ish account on how Plastiq works?

 

[OmegaZ]

Okay, I finally made thing work out after 2.5 weeks working seriously and bugging repeatedly everyday with the Plastiq manager, BBB complaints, my delivery advisor, my delivery advisor's supervisor, and even tweeting to Elon Musk. This is a PITA, an exhausting process that anyone should definitely consider carefully when using Plastiq to make payment to Tesla. In the past, the Tesla processing team could deal with ACH payment much easier, which explained why some people worked out well with their Model S and Model X using Plastiq. Things have changed now. After 1.5 weeks working with Plastiq, the manager finally provided the proof of transfer through ACH to me (They used Silicon Valley Bank for their services). My delivery advisor sent the receipt to the Tesla processing team. The Tesla processing team did not respond for a week. Finally, my delivery advisor had to contact her supervisor, and her supervisor worked directly with the processing team's manager, bypassing the **** processing team. Everything resolved immediately after one day (actually 7 hours). Tesla sent an apology letter to me, saying that its processing team is currently heavily overloaded with payments and refunds, so its processing team missed my payment (WHAT?). I do not comment whose faults are here. However, although the Plastiq method finally proves that it was working, I would advice you to look at my experience to see if it is worth for you to go through the hassles I have been. Please contact me if you need any further questions.

 

[OmegaZ]

Can someone give a more detailed-ish account on how Plastiq works?

Plastiq charges your credit card as purchasing a product/service. The fee is 2.5%. Then, they use their own bank to write a check for you (or transfer money electronically) and send to Tesla, so you actually can use your credit card to pay for your Tesla balance showing in your account.

 

[PhilDavid]

Plastiq charges your credit card as purchasing a product/service. The fee is 2.5%. Then, they use their own bank to write a check for you (or transfer money electronically) and send to Tesla, so you actually can use your credit card to pay for your Tesla balance showing in your account.

The same way Plastiq can pay a third party, can they not just wire the money to your own bank account via ACH? You can then pay directly from your own bank account and have immediate proof of the transaction.

 

[Veritech]

Hey guys so I am taking delivery of my model three next week and I just applied two weeks ago for a capital one quicksilver credit card and got a $30,000 limit. It also gives me 15 months zero APR so that’s why I’m using plastiq with this card. It gives me 1.5% rewards and a flat $150 reward. So with the 2.5% Plastiq fee that works out to a $150 total cost for me to use Plastiq to pay for half my Tesla and it not be due for 15 months. It does seem to take 10 days for the check to get to the Tesla Fremont mail address as they don’t have ACH so if you are doing this do it early

 

[Sg911]

The same way Plastiq can pay a third party, can they not just wire the money to your own bank account via ACH? You can then pay directly from your own bank account and have immediate proof of the transaction.

No they only send payments to a third party ... unless how as someone suggested using a pos system like square may add a third party business owned by you , might be the loophole! I am interested in sending my final down payment financing arranged thru Tesla using Plastiq with wire transfer!

 

[OilAndGas]

I used plastiq briefly for my mortgage since I figured the cash flow deferral and points would be worth it, it’s not really. First Plastiq doesn’t take AMEX or Visa cards at all, those usually have the best rewards. Using a Discover I was getting 1% cash back, 30 day deferral, but overall the fees put it into the red.

 

[Sg911]

I used plastiq briefly for my mortgage since I figured the cash flow deferral and points would be worth it, it’s not really. First Plastiq doesn’t take AMEX or Visa cards at all, those usually have the best rewards. Using a Discover I was getting 1% cash back, 30 day deferral, but overall the fees put it into the red.

That’s not completely accurate here is the updated Plastiq list;
Visa Personal Card Changes

 

[Veritech]

As an update for me using Plastiq to pay for half my Model 3 purchase. Make sure not to do a physical check, which takes 3-4 weeks and can get lost ( like mine did!). Here are all the general details you need to input to create your own Tesla payment recipient. NOTE: DO NOT USE THE ONE THAT PLASTIQ PRESENTS TO YOU AFTER A SEARCH. JUST USE A WIRE TRANSFER AND THESE DETAILS.
Bank Name: Wells Fargo Bank, N.A.

Bank Address: 420 Montgomery, San Francisco, CA 94104

Account Name: Tesla Motors Inc.

Account # 4000118323

ABA/Routing # 121000248

Note: (Input your name and RN# here)

Tesla Finance Contact: Benjamin Dai at [email protected]
Tesla Address: 6900 Dumbarton Circle, Fremont, CA, 94555.

Hope this helps someone, can’t believe I got $30k financed for virtually free for 15 months!

 

[Sg911]

As an update for me using Plastiq to pay for half my Model 3 purchase. Make sure not to do a physical check, which takes 3-4 weeks and can get lost ( like mine did!). Here are all the general details you need to input to create your own Tesla payment recipient. NOTE: DO NOT USE THE ONE THAT PLASTIQ PRESENTS TO YOU AFTER A SEARCH. JUST USE A WIRE TRANSFER AND THESE DETAILS.
Bank Name: Wells Fargo Bank, N.A.

Bank Address: 420 Montgomery, San Francisco, CA 94104

Account Name: Tesla Motors Inc.

Account # 4000118323

ABA/Routing # 121000248

Note: (Input your name and RN# here)

Tesla Finance Contact: Benjamin Dai at [email protected]
Tesla Address: 6900 Dumbarton Circle, Fremont, CA, 94555.

Hope this helps someone, can’t believe I got $30k financed for virtually free for 15 months!

I did that for my balance too! Was a little nervous but it was there in 2 days as stated. I was leary about their customer service but did have a Plastiq contact :
Graham Marchant if you wanna find out more. (415) 868-3205. Most importantly put your name and reservation multiple times so it can be correctly identified on a wire.

 

[Krazfalen]

As an update for me using Plastiq to pay for half my Model 3 purchase. Make sure not to do a physical check, which takes 3-4 weeks and can get lost ( like mine did!). Here are all the general details you need to input to create your own Tesla payment recipient. NOTE: DO NOT USE THE ONE THAT PLASTIQ PRESENTS TO YOU AFTER A SEARCH. JUST USE A WIRE TRANSFER AND THESE DETAILS.
Bank Name: Wells Fargo Bank, N.A.

Bank Address: 420 Montgomery, San Francisco, CA 94104

Account Name: Tesla Motors Inc.

Account # 4000118323

ABA/Routing # 121000248

Note: (Input your name and RN# here)

Tesla Finance Contact: Benjamin Dai at [email protected]
Tesla Address: 6900 Dumbarton Circle, Fremont, CA, 94555.

Hope this helps someone, can’t believe I got $30k financed for virtually free for 15 months!

I'm planning to do the same. Who did you call to get the info above? Thanks very much

 

[CASE01]

Does this still work????

 

[CASE01]

I did that for my balance too! Was a little nervous but it was there in 2 days as stated. I was leary about their customer service but did have a Plastiq contact :
Graham Marchant if you wanna find out more. (415) 868-3205. Most importantly put your name and reservation multiple times so it can be correctly identified on a wire.

Does this still work???

 

[Sg911]

Does this still work???

Yes! I just did it last week!

 

[asenseoftri]

As an update for me using Plastiq to pay for half my Model 3 purchase. Make sure not to do a physical check, which takes 3-4 weeks and can get lost ( like mine did!). Here are all the general details you need to input to create your own Tesla payment recipient. NOTE: DO NOT USE THE ONE THAT PLASTIQ PRESENTS TO YOU AFTER A SEARCH. JUST USE A WIRE TRANSFER AND THESE DETAILS.
Bank Name: Wells Fargo Bank, N.A.

Bank Address: 420 Montgomery, San Francisco, CA 94104

Account Name: Tesla Motors Inc.

Account # 4000118323

ABA/Routing # 121000248

Note: (Input your name and RN# here)

Tesla Finance Contact: Benjamin Dai at [email protected]
Tesla Address: 6900 Dumbarton Circle, Fremont, CA, 94555.

Hope this helps someone, can’t believe I got $30k financed for virtually free for 15 months!

Thank you so much for sharing! Does this method still work?