1. Fund from your chequing account
Pre-authorized debit from a Canadian deposit account, or an eligible Visa Debit / Debit Mastercard. No credit card is charged.
New feature · Canada · September 2026
Chexy mortgage payments: earn Aeroplan points on your mortgage
Chexy now pays residential mortgages at any Canadian lender and credits 1 Aeroplan point per eligible dollar. The payment is withdrawn from the same chequing account you already use — it is not charged to a credit card, so there are no card rewards on the payment, just Aeroplan points earned directly through Chexy. A 1.75% service fee applies.
How Chexy mortgage payments work
The mechanics are deliberately simple, and they are different from how Chexy handles rent. You connect the chequing account you already pay your mortgage from, add your lender, and schedule the payment. Chexy withdraws the mortgage payment plus its service fee, remits the payment amount to your lender, and credits Aeroplan points to your Aeroplan number.
2. Chexy pays your lender
Chexy remits the payment amount to your lender. All Canadian residential mortgage lenders and servicers are eligible.
3. Earn Aeroplan points
1 Aeroplan point per eligible dollar, credited to your Aeroplan account after the payment is processed.
The math
What 1 point per dollar is actually worth
A $2,500 monthly mortgage earns 2,500 Aeroplan points a month — about 30,000 Aeroplan points a year. The 1.75% service fee on that payment is $43.75 a month, or $525 a year. Whether that trade is worth it comes down to your redemption value: at 1.5¢ per point those 30,000 points are worth roughly $450, while a disciplined premium-cabin redeemer clearing 2¢ or more is comfortably ahead.
| Monthly mortgage | Points / month | Points / year | Fee / year (1.75%) |
|---|---|---|---|
| $1,500 | 1,500 | 18,000 | $315 |
| $2,500 | 2,500 | 30,000 | $525 |
| $3,500 | 3,500 | 42,000 | $735 |
| $5,000 | 5,000 | 60,000 | $1,050 |
Be honest with yourself about redemption value. If you cash Aeroplan points out for merchandise or gift cards, the 1.75% fee will outrun the points. Our travel vs cashback comparison walks through how to value points before paying a fee to earn them.
Calculator
Chexy vs Neobanc on your mortgage
Both platforms pay Canadian mortgages, and neither charges a credit card. Chexy earns Aeroplan points at a 1.75% fee; Neobanc earns 0.5% cashback at $0 fee via Interac e-Transfer.
Estimate your net rewards potential
$2,500/ month
$500$5,000
See which platform performs best for your mortgage payments
Ranked by estimated annual net value after fees · Compared across supported Canadian bill-payment platforms.
Highest estimated net value
Neobanc
Estimated annual value on your mortgage payments: ~$150/year.
Optimized for recurring payments · Fee-adjusted rewards
Why this wins: Neobanc funds mortgage payments by Interac e-Transfer at $0 fee and credits a flat 0.5% cashback, so every dollar of value is net. Chexy is the alternative when you'd rather collect Aeroplan points than cashback.
Learn more: Neobanc review · full platform comparison
Chexy
2nd placeBest for Aeroplan points on a mortgage
Net annual value
$75 cost / year
- Fees
- −$525
- Aeroplan points
- +30,000 pts
- Sign-up bonus
- $20 & up to 36,000 Aeroplan points
Mortgage payments are withdrawn from your chequing account (or Visa Debit / Debit Mastercard) — not charged to a credit card, so no card rewards apply. Points valued at 1.5¢ each; a 1.75% service fee applies.
Neobanc
WinnerBest for cashback on a mortgage
Net annual value
$150 / year
- Fees
- $0
- Cashback
- +$150
- Sign-up bonus
- Up to $50
Funded by Interac e-Transfer at $0 fee. Neobanc credits a flat 0.5% cashback — no credit card rewards are earned.
Estimated annual net value shown · Recommendations based on net value after fees.
Updated regularly for Canadian platform fees and offers. How recommendations are calculated →
Recommended next step · Based on your result
Top credit cards to pair with Neobanc
$150American Express · Amex
American Express Business Platinum
CompatibleWhy: Compatible with Neobanc — ~$950/yr in net rent rewards.
vs current: ~$950/yr in net rent rewards via Neobanc.
+$2,400$799/yr
See review
$150Scotiabank · Visa
Scotiabank Momentum Visa Infinite
Best for recurring billsWhy: Earns 4% on recurring bills — pairs naturally with Neobanc's utilities, mortgage and credit-card bill rails.
vs current: ~$30/yr in net rent rewards via Neobanc.
+$600First Year Free
See review
$100TD · Visa
TD CashBack Visa Infinite
Top pairingWhy: Top-ranked pairing with Neobanc — strongest math in our dataset.
vs current: ~$60/yr in net rent rewards via Neobanc.
+$700First Year Free
See review
Reasons are generated from each card's fee, rewards model and platform compatibility — not from advertiser influence. See methodology.
Keep optimizing
Recommended next steps for your situation
Verdict
Who should use Chexy for a mortgage
- Aeroplan collectors with a redemption plan. If you fly Air Canada or Star Alliance and redeem above ~2¢ per point, 30,000+ points a year from a bill you already pay is real value.
- Anyone short of an award. A few months of mortgage payments can close the gap on a specific award seat — see the best Aeroplan cards for the rest of the stack.
- Skip it if you want pure dollars. Neobanc pays 0.5% cashback at $0 fee — strictly positive, with no valuation assumptions.
Related guides
Keep exploring
FAQ
Chexy mortgage payments — common questions
You connect the same chequing account you already use for your mortgage, add your lender as a payee, and schedule the payment. Chexy withdraws the mortgage payment plus its service fee, remits the payment amount to your lender, and credits Aeroplan points to your Aeroplan account. Every Canadian residential mortgage lender is eligible.
No. Mortgage payments are funded from your chequing account by pre-authorized debit, or from an eligible Visa Debit or Debit Mastercard. Nothing is charged to a credit card, so you do not earn credit card rewards on a mortgage payment — you earn Aeroplan points directly from Chexy instead. That is different from paying rent with a credit card, where the card is charged directly.
1 Aeroplan point per eligible dollar. A $2,500 monthly mortgage earns 2,500 Aeroplan points each month — roughly 30,000 Aeroplan points a year. A $4,000 mortgage earns 4,000 points a month, or about 48,000 a year.
A service fee of 1.75% of the payment amount is the base rate, charged on top of the mortgage payment itself. On a $2,500 payment that is $43.75. Chexy may amend the fee and the earn rate, so confirm both in-app before scheduling a payment.
It depends entirely on how you redeem Aeroplan points. At 1 point per dollar, the fee is 1.75% and the points are worth roughly 1.5% if you value Aeroplan at 1.5¢ per point — slightly negative. If you consistently redeem for premium-cabin or long-haul awards above 2¢ per point, the math turns positive. If you redeem for merchandise or gift cards, it does not.
Any lender or servicer of a Canadian residential mortgage. There is no bank-specific restriction — big five, credit union, monoline or private servicer all qualify.
Chexy pays Aeroplan points (1 point per eligible dollar) with a 1.75% service fee. Neobanc funds mortgage payments by Interac e-Transfer at $0 fee and credits 0.5% cashback. Neobanc is the stronger pure-math choice; Chexy wins if you are collecting Aeroplan points and redeem them well. Compare both on the mortgage payment guide.
Chexy's credit-building add-on reports rent payments to Equifax Canada. Mortgage payments are already reported by your lender, so there is no additional credit-reporting benefit from routing them through Chexy.
Points are credited after the payment is successfully processed and remitted, typically within a few weeks of the payment date rather than instantly. Your Aeroplan account must be valid and in good standing at the time of the payment.
Chexy's mortgage service covers regularly scheduled payments as well as lump-sum payments owing under your mortgage. Prepayment privileges and penalties are set by your lender, not by Chexy — check your mortgage terms first.
Yes. Mortgage support is an addition, not a replacement. Chexy still pays rent, condo fees, utilities and tuition with a credit card, where you keep your card's full earn rate. See the full Chexy review.
Chexy currently offers $20 after your first payment plus up to 36,000 Aeroplan points for qualifying activity. Check the current Chexy offer before you sign up so the mortgage payment routes through the live promotion.