PaySimply makes it possible to pay all sorts of bills using a credit card, including your unavoidable taxes and utility bills.
If paying cash is a hassle and a biller does not accept direct credit card payments, an intermediary bill payment service company like PaySimply can help.
That said, this service is available at a cost and you may have to assess whether the benefits (e.g. convenience and credit card rewards) outweigh the fees you pay.
This PaySimply review covers its fees, pros, cons, competitors, how it works, and whether it is legit.
What is PaySimply?
PaySimply is an online bill payment service that makes it easy for you to pay your bills and taxes using a preferred method of payment.
It is operated by Payment Source, a leading provider of alternative payment solutions that is based in Toronto.
Using the PaySimply online portal, you can pay individual and business taxes to the Canada Revenue Agency (CRA) as well as municipal taxes, tuition, and everyday utility bills.
Payment Source was founded in 2014 and has been recognized as one of Canada’s Best Managed Companies for three consecutive years.
How Does PaySimply Work?
PaySimply is available through a web interface and mobile apps for both iOS and Android devices.
To make a payment, visit the site to select a payee or search for a biller.
For example, you can pay your income tax to the feds by selecting “Canada Revenue Agency” and then:
- Provide a tax identification number, such as your SIN or business number.
- Select the type of payment e.g. T1 tax return, CERB.
- Complete the payment form by adding your email address, name, and payment amount.
- Choose a payment method, review your information, and complete the payment.
The time it takes for payments to go through varies depending on the payment method you have selected and the biller.
CRA payments arrives at the CRA on the same day or up to 3 days depending on the payment method used.
The payment options supported by PaySimply include:
- Credit Cards (Visa, Mastercard, American Express, and UnionPay)
- Interac e-Transfer
- Cash or debit card in-person at Canada Post outlets
What Bills Can You Pay with PaySimply?
You can use PaySimply to pay thousands of billers including the CRA, Alberta Tax and Revenue Administration, municipalities, colleges, universities, utility providers, and more.
Bill types include:
- Taxes: Personal and business taxes
- Tuition, student, and resident fees
- Electricity and gas
- Property tax
- Water and sewer bills
- Others available to search from
You can easily search for a biller and make a payment without needing to create an account.
You can also set up repeat payments using a credit card through the mobile app.
The following fees apply when you make a payment:
- Credit card: 2.50%
- PayPal: 2.50%
- Interac e-Transfer: 1.0%
- Alipay: 2.50%
The fees on cash or debit card payments made in-person at a Canada Post location vary depending on the amount as follows:
- $1 – $1,000: $3.95
- $1,000.01 – $2,000: $5.95
- $2,000.01 – $3,000: $7.95
Installment payments made through PayBright qualify as a loan and the fees you pay are dependent on the loan term, your credit rating, and other factors.
Is PaySimply Legit?
PaySimply is operated by Payment Source, a company that has been operating in Canada since 2014.
It has an A-rating on the Better Business Bureau and a 4.3/5 rating from 72 reviewers on G2.
Also, the company has been voted as one of Canada’s Best Managed Companies and is accepted by the CRA as a payment provider.
As per its website, PaySimply does not store your payment information and uses encryption to protect your data.
Pros and Cons of PaySimply
This service simplifies the ability to pay bills using a payment method that meets your needs.
What this means is that you can pay by using your credit card to pay billers that would normally only accept cheques or pre-authorized debits.
If you are paying with a rewards credit card, this also means you are able to earn cash back or points you can redeem for free travel or merchandise.
While the convenience fee you pay to PaySimply is clear upfront, it adds up to 2.50% extra on what you owe. This fee exceeds the earn rate on most credit cards.
As per PaySimply, it does not store your payment information, which lowers the risk of your personal information becoming compromised.
PaySimply vs. Plastiq
Plastiq is another third-party payment service that allows you pay all kinds of expenses using your credit card. It is available in Canada and the U.S.
The table below compares Plastiq to PaySimply.
|Payment methods supported||Credit Cards, Interac e-Transfer, PayPal, Canada Post, Alipay, PayBright||Credit cards|
|Types of bills||Taxes, tuition, utilities, rent, childcare, golf club fees, others||Tuition, utilities, taxes, rent, mortgage|
|Standard fees||Credit card: 2.50%; Paypal: 2.50%; Interac e-Transfer: 1.0%; Alipay: 2.50%||Credit card: 2.85%|
|Learn more||Visit PaySimply||Read review|
What’s the fee for PaySimply?
It varies depending on your means of payment. Credit Card and PayPal payments have a 2.50% fee, Interac e-Transfers cost 1%, and you pay $3.95 to $7.95 for in-person payments at a Canada Post location.
Can I pay CRA with a credit card?
The CRA allows Canadians to pay their taxes online using a credit card (Visa, Mastercard, American Express, or UnionPay) through PaySimply. PayPal payments are also an option using the Payment Source platform.
Is it worth it to pay bills and taxes using a credit card?
If you don’t have the cash in your bank account, paying your taxes and bills with a credit card can help you avoid late payment fees and penalties. There is a fee for this service and you should aim to pay off your credit card balance quickly to avoid interest fees from accumulating after the 21-day grace period.
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Have you ever paid your tax bill using a credit card? Let us know about your experiences in the comments.
PaySimply is a bill payment service that allows you to pay taxes and bills using a credit card. This PaySimply review covers its fees, safety, competition, pros, and cons.