FlyerTalk Forums - Evolve Money

FlyerTalk Forums (https://www.flyertalk.com/forum/index.php)

- Manufactured Spending (https://www.flyertalk.com/forum/manufactured-spending-719/)

- - Evolve Money (https://www.flyertalk.com/forum/manufactured-spending/1541638-evolve-money.html)

Might as well open another account to pay another car payment. Who cares if the account is blocked later.

Quote:

Originally Posted by OHijAAzi73 (Post 24375923)

lol@ "enhance"....

3% is pure unadulterated greed with respect to debit cards.

Game over and sad to see that they are going bankrupt.

Pretty sure the discount rate for exempt banks is about 1.5%.

At 3%, who would bother using a prepaid card or a debit card from an exempt bank?

So smart!

Will this impact Paypal business debit? I'm still moving some $$ off there...

Quote:

Originally Posted by josephstern (Post 24376005)

Pretty sure the discount rate for exempt banks is about 1.5%.

At 3%, who would bother using a prepaid card or a debit card from an exempt bank?

So smart!

The question is why they think anyone with a debit card from an exempt bank would ever use evolvemoney when they most likely have free billpay from said exempt bank.

It's an absolutely comical that chargesmart.com is now cheaper to use

Before next week, trying to use evolve to unload some AAA gift cards. I saw Amazon retail store card as a possible bill to pay. It asks for Amazon username and password. Never saw a request for that kind of info before. Strange...

Quote:

Originally Posted by nic3456 (Post 24376037)

Will this impact Paypal business debit? I'm still moving some $$ off there...

I'm fairly certain that this new policy was made specifically for this card and gift cards.

Quote:

Originally Posted by DaveInLA (Post 24376069)

I'm fairly certain that this new policy was made specifically for this card and gift cards.

Interestingly enough, Square Cash does not recognize the Walgreens Balance Financial Card as a prepaid card, it only says "card not supported" when I attempted to use it.

I'd say there's still a small sliver of hope that Bancorp issued prepaid cards won't be charged the fee.

Quote:

Originally Posted by ma91pmh (Post 24375790)

I really wish these MOFO's would FOff and stop contacting me I want nothing to do with them any more

Dear Valued Customer,

Evolve Money is dedicated to giving you the power to pay your bills whenever, wherever and however you like. We know that having the ability to pay by debit cards is important to many of our users.

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.

This Bill Pay Fee will be waived for most major debit cards, cash load packs and Evolve Money credits. You can continue to use these payment methods free-of-charge.

Note: In the payment summary you will see the new fee amount when using a debit card for which the Bill Pay Fee has not been waived. If the debit card you are attempting to use has a fee, you will have the option to change your payment method before you complete a payment. We will send you a reminder before this change takes place.

We apologize for this inconvenience. We will continue to enhance Evolve Money with the features you request, such as the recent addition of payment by VISA, MasterCard and Discover credit cards. Plus, we have some more big changes we think you will like coming very soon.

If you have any questions, please contact Customer Support at [email protected]. As always, thanks for your continued support of Evolve Money.

The Evolve Money Team

Oh well !

Like most here, I guess I'll be scratching Evolve off my list.

Will look into the economics of cash load packs.

Have no idea what "Evolve Money Credits" are.

Anyone?

I do thank them for their services over the past year or so.

Wish they weren't such greedy pigs.

You can't go from zero to 3% with this crowd and expect to keep any of the
business.

So if there is someone from Evolve Money reading this…..I wish you' all
a lot of luck!

Quote:

Originally Posted by nic3456 (Post 24376037)

Will this impact Paypal business debit? I'm still moving some $$ off there...

I think the exemption is based on the small bank exemption in the Durbin Amendment. Banks with under $10 billion in assets are allowed to charge higher interchange fees, so Evolve is apparently trying to recover those. However, it says that ALL prepaid debit cards and gift cards will get the 3% fee, regardless of the size of the bank. I don't think the Paypal card will fall under this definition, but this is Evolve so who knows.

Assuming the PPBDMC will be included in the 3% group, it MIGHT still be worth it as a convenient way to unload PP My Cash cards. IF I had easy and unlimited access to these cards (which I don't), I could still come out ahead. For each $500 MC card, I can get 5% back ($25) from my CC and 1% back from PP ($5) for $4 fee. That's net +$26. Add on 3% ($15), I would still be up $11. Of course, this would only be after I maxxed out the $1000/mo debit load on my Redbird. This really is the easiest way to unload PP MC cards that I know of, other than RB.

Why is Evolve even discussed here?

This service is, and always has been, worthless.

Quote:

Originally Posted by sybloc (Post 24376271)

Why is Evolve even discussed here?

This service is, and always has been, worthless.

I used it to pay my law school loans, each of which had separate account numbers (8). I was therefore able to manufacture spend in excess of 3k a month through evolve paying down loans.

I'm completely incensed by this change. I understand the need for them to turn a profit but 3% is ridiculous.

hmm, i wonder what is going to happen to two payments i scheduled to charge in march. they have no fee attached to them