If you’re looking for an easy way to file your taxes in Canada, this PaySimply review is for you.
Tax and bill payments can be complicated and time-consuming with pre-authorized debit or cheque payments.
Fortunately, online third-party payment processors have simplified the process by offering multiple payment options with affordable pricing.
PaySimply is a popular tax and bill payment processor in Canada with several payment options and competitive pricing.
This PaySimply review covers everything you need to know about the company including its payment options, fees, transaction limits, alternatives and more.
What is PaySimply?
PaySimply is an online third-party tax and bill payment processor in Canada offered by Payment Source, one of the country’s Best Managed Companies.
PaySimply stands out in the competition with its multiple tax and bill payment options, offering Canadians seamless payments experience.
With PaySimply, you can pay your bills and taxes using a credit card, Interac e-Transfer, PayPal, Alipay, debit card or cash at any Canada Post outlet.
In other words, PaySimply lets you pay the government anyhow you want. Their goal is to give Canadians the choice and freedom to choose how they pay for services.
That means, PaySimply facilitates other payments beyond taxes. Other sectors they serve include telecoms, online retailers and merchants etc.
How Does PaySimply Work?
PaySimply allows you to file your bills and taxes online or in person at any Canada Post outlet.
Depending on your payee and biller, you can pay your obligations through PaySimply using a credit card, Interac e-Transfer, PayPal, Alipay, debit card or cash at any Canada Post outlet.
The following are the types of bills and taxes you can pay through PaySimply:
- College/university bills
- Municipality/city bills
- Individual/business taxes
- Alberta TRA
- COVID-19 based repayments
Note that payment timelines vary by your payee/ biller and the payment option. For example, it generally takes between 0-3 days for the government to recognize your tax payments.
Is PaySimply Safe?
PaySimply is safe because it’s owned by Payment Source, a trusted alternative payment service provider in Canada with A-rating on the Better Business Bureau (BBB).
PaySimply is also one of the third-party payment processors recommended by the government for bill and tax payments in Canada.
More so, the company uses advanced encryption to protect your personal information. It also protects you against hackers by not storing your information on its database.
Types of Bill and Tax Payments PaySimply Supports
In addition to college/university and municipality/city bills payments, PaySimply supports CRA taxes and Alberta TRA payments.
Accordingly, you can pay the following bills and taxes through PaySimply online or in-person:
- Property tax
- Tuition
- Childcare
- Utility
- Invoice
- Rent
- Provincial taxes and levies (in Alberta)
- Individual/business taxes
- COVID-19 based repayments
To confirm if your biller is supported, simply use the search button on the PaySimply website to find your payee or biller and start the payment process.
How Do I Pay Tax With PaySimply?
Paying tax or bill with PaySimply takes only a few minutes and doesn’t require account creation.
Depending on your payee or biller, you can pay your tax online or in-person with PaySimply. All you need is to visit the PaySimply website and follow the steps below:
- Choose the tax/bill you want to pay: Use the search button to find the tax or bill you want to pay from the options PaySimply supports.
- Provide account details: Enter your name/business name, bank account, payment period and the amount you want to pay.
- Choose payment option: PaySimply supports multiple payment options such as credit cards, Interac e-Transfers, PayPal, Alipay debit card or cash payment at Canada Post. Choose your favourite option and make the transaction.
- Receive your payment receipt: Once your payment is processed, your account will be credited and you will receive a payment receipt.
Don’t hesitate to contact PaySimply if you haven’t received your receipt after completing your payment and checking all your email category tags.
In addition, you can set up recurring credit card payments for your regular bills to avoid repeating the steps above.
PaySimply Payment Timelines
As noted previously, PaySimply payment timelines vary by your payee or biller and the payment option.
The following are PaySimply payment timelines per type and method of payments
CRA Payment Timelines
| Payment Method | Payment Status | Number of Business Days |
|---|---|---|
| Credit Card, DirectPay & PayPal | PaySimply payment Recognition of payment by CRA Payment appearance on your CRA My Account or My Business Account | 0 3 8 |
| Interac e-Transfer | PaySimply payment Recognition of payment by CRA Payment appearance on your CRA My Account or My Business Account | 0 1 6 |
| Payment at Canada Post (In-person) | PaySimply payment: Recognition of payment by CRA: Payment appearance on your CRA My Account or My Business Account: | 0 0 5 |
Alberta TRA Payment Timelines
| Payment Method | Payment Status | Number of Business Days |
|---|---|---|
| Credit Card & PayPal | PaySimply Payment Recognition of payment by Alberta TRA Payment appearance in the records of Alberta TRA. | 0 3 4 |
| Interac e-Transfer | PaySimply Payment Recognition of payment by Alberta TRA Payment appearance in the records of Alberta TRA. | 0 1 2 |
| Payment at Canada Post (In-person) | PaySimply Payment. Recognition of payment by Alberta TRA Payment appearance in the records of Alberta TRA. | 0 3 4 |
Biller Payment Timelines
| Payment Method | Payment Status | Number of Business Days |
|---|---|---|
| Credit Card, Alipay & PayPal | PaySimply Payment. Recognition of payment by the biller Reflection of payment in biller’s records. | 0 3 Varies |
| Interac e-Transfer | PaySimply Payment. Recognition of payment by the biller Reflection of payment in biller’s records. | 0 1 Varies |
| Pay in-person at Canada Post | PaySimply Payment Recognition of payment by the biller Reflection of payment in biller’s records | 0 3 Varies |
PaySimply Transaction Limits
PaySimply transaction limits vary by payment method as follows:
| Payment Method | Transaction Limit |
|---|---|
| Credit card, PayPal, Interac e-Transfer and Alipay | $50,000 |
| Payment at Canada Post with a debit card or cash | $3,000 |
A few things to note about the PaySimply transaction limits:
- If you’re using a credit card: Depending on your card issuer, your transaction limit could be much lower than the $50,000 set by PaySimply depending on your card provider. Feel free to contact your card provider to increase your transaction limit.
- If you’re using a debit card: Like credit cards, your daily or transaction limit may be lower than the $3,000 PaySimply transaction limit. Speak with your bank to change the limit temporarily
- If you’re paying at Canada Post: The Canada Post outlet may increase its transaction limit (at its discretion) if you’re paying more than $10,000. Alternatively, they may direct you to another outlet.
What are the Fees for PaySimply?
PaySimply fees vary by the type of payment option you choose.
The table below shows the available payment methods at Paysimply and their fees as of the time of writing this PaySimply review:
| Payment Method | Fees |
|---|---|
| Credit Card | 2.5% |
| Interac e-Transfer | 1% |
| DirectPay | 1% |
| Alipay | 2.5% |
| PayPal | 2.5% |
| Debit card or cash payment @ Canada Post | $3.95 (for $1.00 to $1,000.00 payment)$5.95 (for $1,000.01 to $2,000.00 payment)$7.95 (for $2,000.01 to $3,000.00 payment) |
Pros and Cons of PaySimply
So far in this PaySimply review, we have discussed what PaySimply entails and the cost of using it to pay your bills or taxes in Canada.
But before you proceed to use PaySimply, it’s important to know the pros and cons of doing so. So here are the top benefits and drawbacks of PaySimply.
Pros
- Multiple payment options: Make your bill or tax payment with credit cards (Mastercards, UnionPay, Visa, American Express), Interac e-Transfers, PayPal, Alipay, debit card or cash payment at any Canada Post outlet.
- Competitive fees: Compared to its competitors, PaySimply is an affordable option. It charges between 1% to 2.5% for online tax filing and between $3.95 to $7.95 for debit card or cash payments at any Canada Post outlet.
- Faster payments: All tax or bill payments on PaySimply are completed within a business day. Payment recognition ranges between 1 to 3 business days.
- High transaction limits: PaySimply also competes greatly in terms of high transaction limits. You can pay up to $50,000 online or up to $,3000 with a debit card or cash at Canada Post.
- Ease of use: PaySimply simplifies tax and bill payment to anyone that has access to the Internet. Its mobile app is available on Google Playstore and App Store and you don’t need to create an account to pay your taxes through the platform.
- Security: PaySimply protects you against fraudsters by not storing your personal or payment information and by using advanced encryption.
Cons
- Zero rewards: Unlike its competitors, PaySimply doesn’t offer any form of rewards to new or existing users.
PaySimply Review: Our Rating Method
| Feature | Rating |
|---|---|
| Payment Options | ⭐⭐⭐⭐⭐ |
| Transaction Limit | ⭐⭐⭐⭐⭐ |
| Payment Timelines | ⭐⭐⭐⭐ |
| Fees | ⭐⭐⭐⭐ |
| Security | ⭐⭐⭐⭐⭐ |
| Rewards | – |
We arrived at the 4.5 overall rating of PaySimply by evaluating its key features, such as features, payment options, transaction limit, payment timelines, fees, security and rewards. We use a 5-point rating scale to rate the key features based on their value and how they compete.
While PaySimply scores high in most of its key features, it performs below the competition in terms of rewards to new and existing users.
Overall, our PaySimply review is positive because the company serves the purpose of its existence.
PaySimply vs Plastiq: Which to Choose?
| Feature | PaySimply | Plastiq |
|---|---|---|
| Types of payment | CRA, provincial, individual and business taxes and bills | CRA, individual and business taxes |
| Supported payment methods | Credit cards, Interac e-Transfers, debit cards, cash payments, PayPal and Alipay | Credit cards, debit cards, wire transfer, cheque, bank transfers |
| Credit & debit card processing fees | 2.5% for credit cards and between $3.95 to $7.95 for debit cards | 2.85% for credit cards and $1 for debit cards |
| Coverage | Canada | Canada & the US |
| Welcome bonus | None | None |
| Mobile app | Yes | N/A |
Plastiq is one of the top competitors of PaySimply that has been in the industry since 2012. This US-based online third-party tax payment service supports CRA, individual and business tax payments in Canada.
Like PaySimply, Plastiq allows you to pay taxes with a credit card or debit card. While PaySimply offers more payment options, the two companies don’t offer rewards to their new existing members.
However, PaySimply has a relatively lower processing fee than Plastiq. It charges between 1% to 2.5% for credit card payments and between $3.95 to $7.95 for debit card processing. On the other hand, Plastiq charges 2.85% for credit cards and $1 for debit card payments.
While you can conveniently pay your bills and taxes with the PaySimply mobile app, Plastiq is only accessible on its website.
So which is the better service between PaySimply and Plastiq? Well, the difference is clear. Besides having more payment options, PaySimply is also more affordable than Plastiq. You can pay your taxes and bills with PaySimply at your convenience using a mobile app.
However, your choice should reflect your situation. It’s worth considering Plastiq if you have tax obligations in Canada and in the US.
But if you’re on a low budget and looking for a cost-effective alternative to pay your taxes, PaySimply is a better choice.
And if you’re looking for the best free options to file your taxes in Canada, consider these best free tax software In Canada.
FAQs on PaySimply Review
It depends on the payment method. However, all tax or bill payments on PaySimply are completed within a business day of funding your account. Payment recognition ranges between 1 to 3 business days from the date you made the funding.
PaySimply is better than Plastiq on several grounds. While Plastiq only supports debit and credit card payments, PaySimply supports credit cards, Interac e-Transfers, PayPal, Alipay, debit card and cash payment at any Canada Post outlet.
Furthermore, PaySimply charges between 1% to 2.5% for credit card payments and between $3.95 to $7.95 for debit card and cash payments. On the other hand, Plastiq charges 2.85% for credit cards and $1 for debit card payments.
In addition, PaySimply makes tax payments easy with web and mobile app access. Plastiq is only accessible on its website as of the time of writing this PaySimply review.
PaySimply supports individual, business, and COVID-19 related payment to the CRA with a credit card, PayPal, Interac e-Transfer, debit or cash payment at any Canada Post.
Yes, the CRA accepts tax payments with credit cards from recognized third-party service providers. Your payment will be processed to the CRA which will later reflect on your CRA My Account or My Business Account.
Unfortunately, you can not pay your US taxes and bills using PaySimply. The service only supports Canadian payees and billers at the moment.
Verdict on PaySimply Review
Overall, our PaySimply review is positive. We recommend it to anyone looking for multiple options for tax and bill payments in Canada. However, PaySimply may not be ideal for you depending on your situation.
You should critically evaluate the pros and cons of the service before deciding. If you need more help in deciding, please leave a comment below.
Above all, reducing your tax obligations will help you save money on the long run – money that can be put towards your other financial goals. So here are 5 practical tips on how to reduce your taxes in Canada.
If you like this PaySimply review, kindly read our existing posts to learn about the best financial products and services in Canada.
PaySimply Review
Summary
PaySimply is an online third-party tax and bill payment processor in Canada that makes it simple and easy to file your taxes.
