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
Jun 12, 2014, 8:23 am
#1501
Join Date: Aug 2013
Posts: 1,207
I think the timer prevents their average customer from accidently making a double payment, its a simple tech solution to eliminate the CSR have having to constantly field calls about paying twice and wanting a refund of one payment. CSR cost additional money so if you can use tech to eliminate an error all the better,
Jun 12, 2014, 8:29 am
#1502
Join Date: Oct 2013
Programs: Hyatt Globalist No More..., Hyatt Explorist, Hilton Diamond, SPG Platinum, Marriott Platinum
Posts: 4,375
It is sort of a bug if it's not explained to the customer beforehand (e.g. T&C) or implemented in a way that alerts the user to this issue. To a user not on this thread, how would he/she know.
Jun 12, 2014, 8:53 am
#1503
Join Date: Mar 2013
Location: Down South, The Desert
Programs: Marriot Rewards, Southwest Rapid rewards, Emerald Club, Avis Preferred
Posts: 1,871
Jun 12, 2014, 9:04 am
#1504
Join Date: Oct 2013
Programs: Hyatt Globalist No More..., Hyatt Explorist, Hilton Diamond, SPG Platinum, Marriott Platinum
Posts: 4,375
Jun 12, 2014, 7:48 pm
#1505
Join Date: Nov 2013
Location: United States
Posts: 526
I have a Chase mortgage that's over $2,000 but under $2,500
If I sent $2,000 to Chase via evolve near the end of the billing cycle on a Friday/Saturday will Chase
A) Apply that to the principal because it's not a full payment?
B) Apply the $2,000 to the mortgage payment due and wait on the remainder?
If I sent $2,000 to Chase via evolve near the end of the billing cycle on a Friday/Saturday will Chase
A) Apply that to the principal because it's not a full payment?
B) Apply the $2,000 to the mortgage payment due and wait on the remainder?
Send $999 on sat
Send $999 on sun
Send $502 on mon
That's your best bet, if it doesn't work then Chase will fix it for you at least once so nothing to loose. Fri night/Sat/Sun might also work.
Jun 12, 2014, 8:17 pm
#1506
Join Date: May 2014
Posts: 201
I have a Chase mortgage that's over $2,000 but under $2,500
If I sent $2,000 to Chase via evolve near the end of the billing cycle on a Friday/Saturday will Chase
A) Apply that to the principal because it's not a full payment?
B) Apply the $2,000 to the mortgage payment due and wait on the remainder?
If I sent $2,000 to Chase via evolve near the end of the billing cycle on a Friday/Saturday will Chase
A) Apply that to the principal because it's not a full payment?
B) Apply the $2,000 to the mortgage payment due and wait on the remainder?
Chase applies money that comes in for any payment in the following order:
1.) principal due
2.) interest due
3.) escrow due
4.) fees due
5.) additional principal
Let's assume your mortgage is $2300, due on the first.
If you send $2000 on the 29th, there is no principal due, no interest due, no escrow due, and no fees due. Accordingly, the $2,000 you sent on the 29th will all be applied to "additional principal."
The 1st of the month rolls around, you have a payment of $2,300 due. When you send in what you consider to be "the last $300" due... Chase considers it the FIRST $300 due and applies that $300 to "principal due." At that point, you are now $2000 behind in your mortgage payment.
Jun 12, 2014, 8:27 pm
#1507
Join Date: Mar 2005
Location: ATL
Programs: AA, AGR, DL, MR, WoH, UA
Posts: 951
Jun 13, 2014, 7:31 am
#1508
Join Date: May 2014
Posts: 201
Chase requires the full amount to be paid for it to be considered a payment and for it not to apply against the principal. If you call they will fix it, but they won't be happy about it.
Send $999 on sat
Send $999 on sun
Send $502 on mon
That's your best bet, if it doesn't work then Chase will fix it for you at least once so nothing to loose. Fri night/Sat/Sun might also work.
Send $999 on sat
Send $999 on sun
Send $502 on mon
That's your best bet, if it doesn't work then Chase will fix it for you at least once so nothing to loose. Fri night/Sat/Sun might also work.
The following Tuesday Chase showed 11 payments to my account (10 $200, 1 $20). The first 9 $200 payments listed as $200 payments with $0 applying toward anything (principal, escrow, etc). The last $200 payment had a full $2000 applying to principal, etc, as normal.
The last $20 payment shows $0 applied to anything. But yet my mortgage bill was shown as paid, not due, and the next payment date advanced to the next month.
Hope that helps.
Jun 13, 2014, 8:26 am
#1511
Join Date: Dec 2004
Posts: 7,905
Since there are so many comments about Chase mortgage payments, I thought I'd mention that Chase may, upon request, change the way payments are applied. They can set it up so that all incoming funds are automatically applied toward your mortgage payments, up to 2 payments in advance. After that, extra payments would be applied toward principal as you'd expect. This is not something you can just switch on and off, so I haven't done it yet myself.
Jun 13, 2014, 9:42 am
#1512
Join Date: Sep 2012
Posts: 4,431
Chase applies money that comes in for any payment in the following order:
1.) principal due
2.) interest due
3.) escrow due
4.) fees due
5.) additional principal
Let's assume your mortgage is $2300, due on the first.
If you send $2000 on the 29th, there is no principal due, no interest due, no escrow due, and no fees due. Accordingly, the $2,000 you sent on the 29th will all be applied to "additional principal."
The 1st of the month rolls around, you have a payment of $2,300 due. When you send in what you consider to be "the last $300" due... Chase considers it the FIRST $300 due and applies that $300 to "principal due." At that point, you are now $2000 behind in your mortgage payment.
What I was thinking if doing is making 4x $200 payments during the weekend using Evolve, and then using BB to pay the remaining amount. THe BB payment would be times to also deposit on Monday.
Jun 13, 2014, 10:20 am
#1513
Join Date: Aug 2013
Posts: 1,207
Staples rebate cards != normal visa gcs. They come preregistered to the address... thus you must use that address for it to go through properly. Conventional wisdom shouldve told you that the two items (staples vs regular visas) are two different breeds, especially considering you cant set a pin on one!
Jun 13, 2014, 2:36 pm
#1514
Join Date: May 2014
Posts: 201
Would it make a difference if the $2000 Evolve payments were made after the "due date" and during the grace period?
What I was thinking if doing is making 4x $200 payments during the weekend using Evolve, and then using BB to pay the remaining amount. THe BB payment would be times to also deposit on Monday.
What I was thinking if doing is making 4x $200 payments during the weekend using Evolve, and then using BB to pay the remaining amount. THe BB payment would be times to also deposit on Monday.
Last edited by RJP3; Jun 13, 2014 at 2:52 pm