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
Feb 18, 2015, 7:40 pm
#2796
Join Date: Oct 2014
Posts: 21
It's an absolutely comical that chargesmart.com is now cheaper to use
Feb 18, 2015, 7:48 pm
#2799
Join Date: Oct 2014
Posts: 21
I'd say there's still a small sliver of hope that Bancorp issued prepaid cards won't be charged the fee.
Feb 18, 2015, 7:57 pm
#2800
Join Date: Nov 2006
Location: So.FL
Programs: AA Platinum Jet Blue Mosaic
Posts: 106
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
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!
Feb 18, 2015, 7:57 pm
#2801
Moderator: Manufactured Spending
Join Date: Jul 2011
Posts: 6,585
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.
Feb 18, 2015, 8:22 pm
#2802
Join Date: Sep 2012
Posts: 4,431
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.
Feb 18, 2015, 8:34 pm
#2804
Join Date: Oct 2014
Posts: 21
I'm completely incensed by this change. I understand the need for them to turn a profit but 3% is ridiculous.