Apr 9, 2014, 10:37 pm
Last edit by: sechs
Please read the wiki before posting a question.
2/25/2015 - Single payment limit raised to $2999 when using credit or debit cards. Maximum payments per calendar month per individual biller account raised from 1 to 4.
2/18/2015 - Beginning next week, certain debit cards from smaller banks, as well as prepaid debit cards and gift cards will be subject to a 3 percent Bill Pay Fee on each payment.
Evolve now accepts Discover, Visa and Mastercard credit cards with 3% fee.
Debit Cards Not Charged the 3% Fee:
Transaction Limits:
http://www.evolvemoney.com/transaction-limits/
Daily dollar limits include:
Individual bill pay dollar limits include:
Monthly payment limits include:
The limits are based on charge date, not payment date.
There are currently no credit cards that can be paid via Evolve.
Tips for Using Evolve
Mortgages Section
Let us know if payments auto apply to principal or if you have to call
Bank of America: After making 4 payments over the weekend you MUST call (or use online banking messaging) to allocate funds to the regular payment - by default it goes to principal.
Central Mortgage: Appears to go to additional principal payment. YMMV
Chase: Payments with JPMorgan have to fall within a ~5-day window in order for them to be unallocated, otherwise they go to principal. Your window depends on the billing date (usually the 1st of the month). If so, the window is until the 5th, so using Evolve, you have to allow for the payment to post and have it post between ~the 1st and the 5th. PITA
Citi: Made two payments near the end of the month and these were originally "unapplied" and labeled as "additional funds received". A day or two afterwards they moved to principal payments. A quick call to Citi had the payments moved from principal to make up my monthly mortgage payment.
Nationstar Mortgage: Payment applied as an "Additional principal payment" if you sent before the 1st of the month. If you pay after the first, the payment is held until you submit the full payment amount, and then the whole thing is applied to your monthly payment.
PNC: Partial payments will be held aside until payment in full is made. They will send a letter.
Provident Funding: Does not accept partial payments. After month's mortgage is paid, accepts Evolve a additional principal payments.
US Bank: Made 4 payments in June; after a couple of days, payments moved from principal payment to applying to monthly payment w/o a call
Wells Fargo: Two $500 payments day 1, One $500 payment day 2 going over the actual mortgage payment amount due. The payment automatically combined itself to pay the exact amount due once the Third hit. Any amount that was overpaid subsequently went towards principal. Nice to not have to send in the Exact amount, if you don't mind paying some extra principal.
"If you have any problems with gift cards please send us an email at support [at] evolvemoney.com" [Source: AlexAtEvolveMoney]
2/25/2015 - Single payment limit raised to $2999 when using credit or debit cards. Maximum payments per calendar month per individual biller account raised from 1 to 4.
2/18/2015 - Beginning next week, certain debit cards from smaller banks, as well as prepaid debit cards and gift cards will be subject to a 3 percent Bill Pay Fee on each payment.
Evolve now accepts Discover, Visa and Mastercard credit cards with 3% fee.
Debit Cards Not Charged the 3% Fee:
- Insert here
- US Bank (but not prepaid)
Transaction Limits:
http://www.evolvemoney.com/transaction-limits/
Daily dollar limits include:
- $2,999.00 in payments funded by a debit card and/or credit card
- $999.00 in payments funded by a cash load pack
Individual bill pay dollar limits include:
- $2999.00 for a single bill funded by a debit card and/or credit card
- $999.00 for a single bill funded by a cash load pack
Monthly payment limits include:
- 4 payments per month using a credit or debit card within the dollar limits listed above.
- Unlimited number of payments per month using a cash load pack within the dollar limits listed above.
- Maximum of $10,000 total payments per month for credit, debit, and cash load packs combined.
The limits are based on charge date, not payment date.
There are currently no credit cards that can be paid via Evolve.
Tips for Using Evolve
- No need to register your debit card
- If your transaction does not go through, you will have to wait for the authorization to fall off your card
- Using multiple Evolve accounts paying the same biller may lead to your biller being permanently blocked
- If using GCs with the new scheduling feature, it is important to schedule in such a way that it says your card will be charged today (not on a future date) to prevent a decline; and if you want to avoid the Express Pay fee this also means typically scheduling a few days out (click each date to find one without the fee but still charges your card today).
Mortgages Section
Let us know if payments auto apply to principal or if you have to call
Bank of America: After making 4 payments over the weekend you MUST call (or use online banking messaging) to allocate funds to the regular payment - by default it goes to principal.
Central Mortgage: Appears to go to additional principal payment. YMMV
Chase: Payments with JPMorgan have to fall within a ~5-day window in order for them to be unallocated, otherwise they go to principal. Your window depends on the billing date (usually the 1st of the month). If so, the window is until the 5th, so using Evolve, you have to allow for the payment to post and have it post between ~the 1st and the 5th. PITA
Citi: Made two payments near the end of the month and these were originally "unapplied" and labeled as "additional funds received". A day or two afterwards they moved to principal payments. A quick call to Citi had the payments moved from principal to make up my monthly mortgage payment.
Nationstar Mortgage: Payment applied as an "Additional principal payment" if you sent before the 1st of the month. If you pay after the first, the payment is held until you submit the full payment amount, and then the whole thing is applied to your monthly payment.
PNC: Partial payments will be held aside until payment in full is made. They will send a letter.
Provident Funding: Does not accept partial payments. After month's mortgage is paid, accepts Evolve a additional principal payments.
US Bank: Made 4 payments in June; after a couple of days, payments moved from principal payment to applying to monthly payment w/o a call
Wells Fargo: Two $500 payments day 1, One $500 payment day 2 going over the actual mortgage payment amount due. The payment automatically combined itself to pay the exact amount due once the Third hit. Any amount that was overpaid subsequently went towards principal. Nice to not have to send in the Exact amount, if you don't mind paying some extra principal.
"If you have any problems with gift cards please send us an email at support [at] evolvemoney.com" [Source: AlexAtEvolveMoney]
Evolve Money
Aug 31, 2014, 10:51 pm
#2266
Join Date: Dec 2013
Posts: 3,507
I'm a bit confused about how to use evolve with the changes. I have a loan payment of around $900. Am I still able to get two giftcards and load them on the same day and make the payment and have that one payment of around $900 go through? I notice when I load the card it wants to know what bill I am paying. Do I load one card and select the loan provider and then load the second card immediately thereafter and do the same thing and both amounts will count towards the same payment or am I stuck with just using the $500 from the gift card?
Sep 1, 2014, 4:54 pm
#2267
Join Date: Apr 2004
Location: CA
Posts: 1,305
hmm..
i submitted two transactions for 200 each to the same biller just now for payment the 4th.
they took money from both of my debit accounts.
we'll see if the transactions go through. maybe they are behind on implementation.
i submitted two transactions for 200 each to the same biller just now for payment the 4th.
they took money from both of my debit accounts.
we'll see if the transactions go through. maybe they are behind on implementation.
Sep 2, 2014, 7:29 am
#2268
Join Date: Aug 2009
Location: RDU
Programs: A few
Posts: 5,499
Actually, I disagree in part.
Plenty of us would pay a fee to use debit and gift cards also. I think that's where the sweet spot is.
There are numerous other companies offering bill pay via credit card for a fee. And none are very popular because the economics just don't incentive people to use those services.
But if Evolve can figure out a fee to use debit and gift cards for bill payment where they make a little and still engage customers, we have a long-term model.
Plenty of us would pay a fee to use debit and gift cards also. I think that's where the sweet spot is.
There are numerous other companies offering bill pay via credit card for a fee. And none are very popular because the economics just don't incentive people to use those services.
But if Evolve can figure out a fee to use debit and gift cards for bill payment where they make a little and still engage customers, we have a long-term model.
Sep 2, 2014, 7:35 am
#2269
Suspended
Join Date: May 2010
Posts: 2,998
That is the problem. The cost of processing for anybody is greater than the cost we are willing to pay. So either someone has to lose money or someone like Evolve has to think they can reinvent the wheel. Which they thought they had, but turned out the new one was square and didn't work very. We are back to round wheels
Sep 2, 2014, 7:45 am
#2270
Join Date: Aug 2009
Location: RDU
Programs: A few
Posts: 5,499
Sep 3, 2014, 5:43 am
#2272
Join Date: Dec 2004
Posts: 7,904
Yes - that's the problem with the changes from Evolve. Now, any bill over $500 can't be paid with GC, unless you can magically come up with GC > $500. Each time you hit the pay bill button, it counts as 1 transaction. Since they will now be limiting you to only 1 transaction per biller per month, you're out of luck. Unless, of course you use something like the Buxx cards, but then you're still limited to between 500 and 1000. Makes it much less useful to use the service.
Sep 3, 2014, 5:55 am
#2273
Join Date: Jul 2006
Posts: 333
Sep 3, 2014, 10:45 am
#2277
Join Date: Jan 2005
Posts: 492
"4 payments/month limit until Aug" -- does it mean the system only allow upto 3 payments/month (before Sep 1)? I got a suspension email on my mortgage account, paid 4 times in aug and one time in sep... the email said "closed due to the volume processed".... any chance to appeal?
Sep 3, 2014, 1:11 pm
#2278
Join Date: Jul 2004
Posts: 377
"4 payments/month limit until Aug" -- does it mean the system only allow upto 3 payments/month (before Sep 1)? I got a suspension email on my mortgage account, paid 4 times in aug and one time in sep... the email said "closed due to the volume processed".... any chance to appeal?
Sep 3, 2014, 2:05 pm
#2279
Join Date: Jan 2005
Posts: 492
No, I have only one evolve account. The 4 payments were sent on 2 continous days (8/30 and 8/31), each submitted with 2 * $ 500 VGC, with about a few hours in between. The fifth is sent on Sept 1, with another $500 VGC. Is the pattern too close?
Sep 3, 2014, 2:12 pm
#2280
Join Date: May 2011
Programs: US Airways Gold, Marriott Platinum, SW A List
Posts: 1,575
Hard to say, but it doesn't really matter going forward as you are limited to 1 total payment per month per payee.