Paysimply Review | Pay your taxes and bills with credit cards

Paying your income taxes, city taxes, or hydro bills with a credit card may not seem like a good idea since you’re usually charged a fee for the service. However, since many credit cards require you to spend a minimum amount to get the welcome bonus, it can be a lucrative solution even when factoring in the fee. Best of all, one company makes it all possible – paysimply.ca.

What is Paysimply.ca?

Paysimply.ca is an online service that takes credit card payments – for a fee – and converts them into electronic bank transfers that the suppliers accept. This allows you to pay bills that typically only accept payments directly from your bank account. Some of the most common recipients that allow bank transfers but not credit cards include the Canada Revenue Agency, most cities, and many utility companies.

Some of these bills can be pretty high, which is why some people prefer to pay with credit. That’s because they can earn points, which may be more valuable than any fees paid.

How to Pay Taxes and Bills With a Credit Card

Paying your taxes and utility bills is easy. You just need to follow these steps:

• 1. Head to paysimply.ca and search for the supplier you need to pay. For example, “City of Toronto”

• 2. Click on the relevant search result

• 3. Enter the details, including your name, account number, and the amount to be paid.

• 4. Choose the method of payment

• 5. Enter your payment details and confirm the payment

You will then receive an email with the transaction confirmation and the payment will be made using the details you provided.

How Much Does Paysimply.ca Cost?

Playsimply.ca charges 2.5% for all credit card transactions. For example, if you were charging $5,000, a fee of $125.

They accept Visa, MasterCard and American Express cards, but each issuer’s fee is the same.

Is Paysimply.ca Worth it?

Since you can pay your taxes and bills without any additional fees via your bank account, most people wouldn’t even consider Paysimply. However, using Paysimply can make a lot of sense in the right situation.

Meeting a Credit Card Minimum Spend Requirement

Paying taxes or bills with a credit card lets you quickly reach the minimum spending requirement on new credit cards. This is relevant because some of the best credit cards in Canada have significant minimum spending requirements to trigger welcome bonuses.

For example, the American Express Platinum Card is one of the best travel cards in Canada, and it typically has a welcome bonus of 70,000 – 120,000 points. The problem is the minimum spend requirement to get the welcome offer is typically $7,500 – $10,000 in the first three months of card membership. Having the option to pay taxes and bills might help reach that $10,000 spending requirement.

The Value You Get is Higher Than The Cost

If you know the points gained from paying a bill outweigh the 2.5% fee, then you should consider Paysimply. For example, some loyalty programs will run promotions where you can earn bonus points or status when reaching a minimum spend requirement during a set period. This is very similar to getting a welcome bonus, but instead, you’re getting a different type of reward.

You Need to Manage Cash flow

Tax and bill payments typically have penalties if you miss the payment deadlines. This can be problematic for anyone who doesn’t immediately have the cash available to pay. Since Paysimply allows you to pay with credit, this gives you at least 21 interest free days before you need to pay your bill. This is a reasonable solution for someone who doesn’t have the money now but expects to have the funds shortly.

While the 2.5% fee may seem high, if you have a cash back credit card, you could potentially be earning 2% back. That means your net fee would only be 0.5%. Of course, using a credit card to manage cash flow is only worth it if you pay your entire statement on time. Otherwise, you’ll have to pay the hefty interest rates credit card charges.   

Do I need to create an account with paysimply.ca?

You don’t need to create an account to pay a bill with paysimply.ca. There’s not even an option to create an account with them, so that means you have one less login and password to remember. It also means that you must start from scratch each time you want to pay since you can’t store your credit card information. On a positive note, since your information is never stored, there’s no risk to It being compromised.

Another downside is that you can’t search for your payment history, so keep your confirmation emails and detailed records.

Final thoughts

My Paysimply review is positive. While I wouldn’t pay my taxes and bills regularly with the site due to the 2.5% processing fee, it’s an excellent option for anyone looking to meet the minimum spending requirement on their credit cards. Welcome offers can sometimes be worth more than $500, so you’d still come out ahead even when factoring in the fee. If your property taxes are a few thousand dollars each year, then it’s a great reason to sign up for one of the best travel credit cards before you make your payment to take advantage of any welcome bonus available.