Chexy For Mortgages
- Ben HC
- Aug 4
- 8 min read
Since late early 2025, when they expanded from rent to support credit card payment of personal taxes many other bills I've worked with Chexy, not as an employee or formal consultant but as an expert in travel rewards for Canadian professionals. I went on to help them test and launch corporate taxes and multiple subsequent features. But today, 4th August 2026, comes a feature that I remember pitching to them via voice clips as I drove to the hospital for my shift - Chexy for Mortgages.
While not as powerful for point earning as paying your business taxes via Chexy (the rewardsMD link gets you the best offer) this is going to be a gamechanger for those chasing Aeroplan Elite Status.
As always you can find more Referral options and Disclaimers at the end of the article.
Jump Ahead
Why Couldnt They Do This Before
While Chexy has long had the fundamental mechanics to pay almost any payee, with over a year of support for Preauthorized Debit, Bill Pay, E-Transfer and more recently support for push EFT, credit card networks are ultimately in control.
These networks, Amex, Visa, and Mastercard dictate what is a compliant use of their backend and the fees associated with it. The networks may choose to charge more or less to encourage/discourage use, to cover what they perceive to be higher risk, and to be frank - to optimize their profit for shareholder value. They also have to put in appropriate measures to prevent illegal activity be it money laundering or otherwise.
This is why you can already see certain categories on Chexy being labeled as restricted to specific card types such as some of the more recently released business categories including payroll.
This is also why we've seen the withdrawal of Amex's support for commercial rent, and the imposition of new compliance requirements and overall spending caps.
You may see other smaller companies similar to Chexy who don't seem to inforce the credit card network's rules - this is unlikely to last long, whether that means you should take advantage now or just avoid them is a matter of preference and part of why RewardsMD hasn't partnered with them.
Chexy is ultimately at the mercy of the credit card companies - or at least they were.
The Solution
Chexy's deep relationship with Aeroplan, demonstrated by their ongoing points promotions, co-branding, and visibility in Aeroplan's app, in-flight, and in-airport advertisments was the key.
Instead of relying on credit cards to issue rewards for transactions, could we create a model where Chexy and Aeroplan could reward you directly leveraging bank and debit payment systems?
It was no longer about credit card network restrictions, it was just between Chexy and Aeroplan - and once all the appropriate levels of Aeroplan were on board, the product could be built, tested, and launched. As someone who has been paying their mortgage for the past two months this way I'm happy to finally be able to share more information.
Is It Worth It - Points
This is likely the first question most people will ask - Chexy charges transaction fees, is it going to be worth it to pay those to earn points from my mortgage?
The fee is 1.75% and the earn rate is 1x on the mortgage amount, that means a $5000 mortage would have a fee of $87.50 and would generate 5k pts. Across a year $1050 in fees would generate 60k pts, enough for the shortest distance band business class redemption to Europe. Note that on a promotional basis the first month you'll receive 2x points on your mortgage.
Remember to use search tools like Roame (discount RMD25 until Aug 16th, afterwards discount RMD), seats.aero, or pointsyeah to leverage in date, destination etc to find these deals or to set up alerts.
This creates an acquisition cost below the reasonable redemption value many of us target for our points and equal to a 100% bonus on Aeroplan point sales without sales tax (depending on your tax jurisdiction this could be similar to a 125% bonus).
I would slot this in below fully capturing all your business and personal flow via credit cards, good value but not where I would start if currently unoptimized. There are cheaper ways to get Aeroplan points, or better yet a flexible point type like Amex or Avion such as paying business taxes via Chexy. I regularly discuss topics like this with professionals in free one on one consultations where I help them access unlisted offers and optimize across both personal and business for their unique travel needs. But if your appetite for points exceeds your ability to generate them other ways, you should certainly add this to the arsenal. The incredible thing is, that the points are only a portion of the value here.
Is It Worth It - SQC
Perhaps I was burying the lede, but Chexy mortgage payments are the most cost effective way to acquire additional SQC beyond the 25k cap from credit card earning with the premium AP credit cards (eg. TD AP VIP,the Amex AP Reserve or the Business Aeroplan Reserve).
That's right, these points are SQC eligible at a rate of 5:1, so that $5000 mortgage payment would generate 1000 SQC per month up to the 25k/yr partner SQC cap separate from the credit card cap.
Those who are already deep into Aeroplan status know the significance of this earning, and the lack of alternative options, you'll want to just jump ahead to how to set this up and review relevant restrictions, but for the unaware let me get you up to speed.
In 2026 Aeroplan switched to revenue based status from a mixed distance/segments and revenue model. Status is now defined by a single metric SQC which is earned at a rate of 4 SQC per $ spent on economy flex fares or higher as well as up to 25k SQC from credit card spend and up to 25k SQC from aeroplan partners. Elite status benefits and selectable milestones are allocated at SQC intervals with ever increasing value.
If you had a specific status goal in mind and were likely to be 1000 sqc short, you choose to do a "mileage run", booking a flight you otherwise were unlikely to take, or "up-fare", selecting a higher fare type than you would otherwise. In either case you'd be looking at $250 in fare you otherwise wouldn't have paid to generate 1000 sqc. But with ,mortgage payments via Chexy, $5000 in mortgage payments would generate the same sqc with an $87.50 fee. Further, they would generate 5k points to offset that fee. Meanwhile even at the highest elite status you would only earn 6x AP on your up-fare, and with the best cards another 3x (the Amex AP Reserve or the Business Aeroplan Reserve), for a max of 2250 pts. This is why mortgage payments via Chexy are the cheapest way to get extra SQC beyond credit card earn, if you don't have needs for another flight - less cost, and more points. The points alone can justify it, but add on the SQC and the value can skyrocket.
If you can already hit the 25k sqc cap for credit card spend either organically or through use of Chexy to pay your taxes etc and your mortgage is $5k/mo at a minimum this would push you to 30k if you have zero flight spend. The 30k milestone isn't particularly interesting, but you would receive 10 bonus eUpgrade credits. Next year it would be marginally better getting you past the 35K status tier (more months to earn), but where it gets really interesting is for people who already have some flight spend and were targetting higher tiers such as 50K.
Mortgage payments via Chexy would lower the required flight spend from $6,250 to $5k to reach 50K (25K SQC from cc, 5K from mortgage payments this year, and 20k from spending $5k on flights). You'd gain Star Alliance Gold, giving you extensive global lounge access and priority airport treatment when flying with members of the Star Alliance even when travelling in economy class. That could mean saving on bags, getting through hectic security queues, or having a place to sit and eat before your flight whether you're flying Lufthansa, EVA, United, or many many many more. Even if you already have MLL and AC Cafe access for you and a +1 from a credit card, you'd benefit from being able to bring all your immediate family members (spouse and dependent children) and a guest from this status. You'd also gain arrival MLL and AC Cafe access in NA which could be useful if you want to grab a bite or shower before leaving the airport. You also get free preferred seats at booking for Canada/US flights, 15 eupgrades and several other benefits.
Even those on who already have, or expect to reach the highest tier status with Aeroplan stand to benefit. At 130k you can gift 50K status to a friend, at multiples of 20k you can select a priority reward that could be worth 6 figures of Aeroplan points, and at 200k you can earn a banked year of Super Elite status, protecting you from dropping down if you have a low travel spend year.
Setting It Up
As of the time of writing these are the steps to get it up and running (note some variation by bank).
If you have a business account, select the personal tab, then click "pay a bill"
Type in mortgage and select your issuer, then follow the steps to link your bank account to Chexy. Once the desired bank is linked, you can select the specific account you want the payment to come from and enter the amount and date.
Chexy then generates void cheque information for you to give to your lender
They even give step by step for dealing with the lender, although for me as a private banking client with TD I just messaged my banker and it was done with ease.
Because banks take differing amounts of time to update PAD details for mortgages, Chexy waits until after the mortgage issuer withdraws the first payment from them to withdraw the money from your account (as an aside this feature would be great for their credit card product! Something I'll keep pushing for).
After the first payment which confirms the amounts, date, and that the info is updated, Chexy will return to their typical approach of pre withdrawing the funds. The fact that they are willing to take the upfront financial exposure and offer 2x points on the first mortgage payment shows their commitement to the new product.
Restrictions
The big restriction for now is that this is only available for personal residential mortgages, either spouse could set it up so consider who would benefit most from the SQC (the points can be pooled via Aeroplan family pooling).
Our Take
Mortgage payments via Chexy not only unlocks a significant point earning opportunity for Canadian homeowners previously left out by credit card network restrictions, but more importantly have created a new way to generate significant SQC cheaply.
When combined with paying business taxes and other techniques, Chexy has further cemented themselves as a key tool for the Canadian travel rewards enthusiast and shows why I continue to help them develop their product.
Referrals
Sign up for Chexy - the rewardsMD link gets you the best offer for a hybrid personal/business account.
Check out our new card comparison page
If you're considering any business cards, reach out to me directly, your business situation is likely a bit more complex and may benefit from my expert help, so reach out! We can select the best card, and discuss your overall strategy.
If you're on the fence, or wondering about other cards reach out to me for a free consult, and if you sign up for a card through my link, let me know and I will walk you through advanced tricks and personalized advice to help you get the maximum benefit both from earning and redeeming points - getting your travel journey going faster than you ever thought possible.
Disclaimer
This should not be taken as financial advice and details are subject to change. I have made good intentioned efforts to be accurate but ultimately consult card terms and conditions. I may receive points or other compensation from some of the included links.
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