Originally Posted by
Dr Jabadski
My apologies if I’m incorrectly reading between the lines, this post infers (to me) that you’ve “pushed” (sent) ACH payments (3 times) via Bilt. I’m familiar with having my HOA fees paid via Bilt by having my property management company “pull” (withdraw) an ACH payment from Bilt/WF each month, just as they used to do from a traditional checking account, originally initiated by providing the property management company with my Bilt Rent Account routing and account numbers. I’m completely unfamiliar with how to push/send an ACH payment from my Bilt Rent Account. (I’m also familiar with more traditional bank website/app Bill Pay functions whereby ACH payments can be scheduled to be sent to any of many different “biller”s which have been entered to one’s account.)
Please educate, do you send a Bilt ACH payment via the Bilt website or app OR via WF website or app? Anything unique about doing it via Bilt? Ever try it for anything other than rent/HOA fees? Ever try it more than once a month? Thank you.
I have the property management company withdraw a payment from Bilt's ACH account. This incurs a $2.95 fixed fee, so I have the property management company pull a payment that pays 6 months of HOA fees per payment. I could avoid the fee by having Bilt send the payment, but I've read data points of the proverbial checking being lost in the mail. For me, a $2.95 fee every 6 months is worth the peace of mind. I got the Bilt card about a year ago, so I've done an ACH payment (that the property management company has initiated) 3 times. The $2.95 fee posts as a separate transaction from the HOA fees transaction, but I haven't had problems getting points for both transactions. This was a concern of mine too because the $2.95 fee has always posted with a transaction date one day before the larger HOA fee payment.
As for the last two questions, the answer is yes, by accident. One of my utilities requires that account holders designate a checking account as the default payment method in order to receive discounts. However, one can make a manual payment with a credit card without any fees. I therefore have the Bilt ACH account as the placeholder account but manually initiate a credit card payment each month to bring my balance to $0. In January, I mistakenly submitted a payment using the ACH account information from Bilt, and I was concerned because I had already done my HOA 6-month prepayment (plus the $2.95 ACH fee as a separate transaction) earlier in the billing cycle. However, all 3 transactions posted successfully, and I received 1x points for all 3 transactions.
I don't know if there is a threshold of ACH transactions, such as 12 per year, or other manual review. However, I wouldn't be surprised if there was additional scrutiny of transactions that use the ACH account that Bilt provides. I'll report back if there are any issues with continuing the 6-month cadence paying my HOA fees.