Originally Posted by
Dr Jabadski
Does “to pull an ACH payment from my HOA's property management company” mean that the ACH payment is initiated by your condo management company to withdraw the payment from your Bilt account (rather than Bilt initiating the payment to deposit the payment to your condo management account)?
Yes, that's right. I have the condo management company take the payment from the Bilt account (for which Bilt provides an account number and routing number that resembles a regular checking account).
Does the quote above accurately imply that an ACH transfer initiated by my condo management company, from my Bilt account using the routing and account numbers as provided on the website, will earn Bilt Rewards points? Thank you very much.
I only have one data point so far for this, but, yes, I earned points last month when I had the condo management company pull the payment. I was a bit worried at first because the condo management company charges a small, fixed fee for such a payment, and the fee registers separately from the main HOA payment. The $2.95 fee posted first, but I earned points on both transactions. I pay multiple months at a time to amortize the fee, so I won't have another data point until next year. I could avoid the fee by having Bilt initiate the payment and mailing a check, but a purely electronic way is less prone to a lost or misplaced mailed payment.