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
Mar 1, 2014, 7:16 pm
#468
Join Date: Nov 2010
Location: South NJ
Posts: 263
Mar 1, 2014, 10:17 pm
#469
Join Date: Nov 2012
Location: NYC
Posts: 398
Just another data point. I made multiple Evolve payments over the course of 4 days to my WF Mortgage. All got applied to principal. Took a call to WF to have them reverse it and credit it correctly. Basically they confirmed that anything less than the actual payment amount will automatically go to principle, so if I want to continue to pay via Evolve, I'll have to call WF every month, or wait until they raise the daily send limit.
Mar 1, 2014, 10:56 pm
#471
Join Date: Nov 2012
Location: NYC
Posts: 398
FYI guys be really careful submitting large payments for the first time. I sent a payment to "Superior Oil", which apparently is not the same as my Superior Oil. It was a large one, $950 over two VGCs. Their customer service has actually been great so far in terms of figuring out the issue and it seems like everything will be OK but they told me 4 weeks to get my money back in addition to the couple weeks it took to figure this out. I'm still trying to get them to give me the money as a check since I don't have the prepaids anymore and they want to refund the charges to the cards. We'll see what happens.
Also I lost my early payment discount since there was one with this, so be wary if you're using a biller the first time and timing is important.
Really wish they gave an address or more info in general than just the name of the biller.
Also I lost my early payment discount since there was one with this, so be wary if you're using a biller the first time and timing is important.
Really wish they gave an address or more info in general than just the name of the biller.
yea. i would do a $1 test payment for each account number (payee) that i pay via Evolve
Mar 2, 2014, 10:14 am
#473
Join Date: Jan 2014
Posts: 286
Yes, mine is just over $3k so it's impossible to do even within two days. From what I'm reading, it seems like if the separate payments are received the same day, it gets applied properly with WF. For next month, I'm going to try sending from 4 different EV accounts on the same day, or maybe 3 EV accounts and just a bank transfer from my WF checking to mortgage since its just over $3k. Keeping my fingers crossed for a limit increase in EV.
Mar 2, 2014, 5:35 pm
#474
Join Date: Jun 2009
Location: DFW
Posts: 454
Yes, mine is just over $3k so it's impossible to do even within two days. From what I'm reading, it seems like if the separate payments are received the same day, it gets applied properly with WF. For next month, I'm going to try sending from 4 different EV accounts on the same day, or maybe 3 EV accounts and just a bank transfer from my WF checking to mortgage since its just over $3k. Keeping my fingers crossed for a limit increase in EV.
Mar 4, 2014, 4:56 pm
#477
Join Date: Nov 2010
Location: South NJ
Posts: 263