Any Replacements for Evolve Money?

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Vattené
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Any Replacements for Evolve Money?

Postby Vattené » Thu Jan 07, 2016 8:36 pm

I've been using Evolve Money to make monthly bill payments thanks to Gamma and an old thread that doesn't need to be revived:
the-lounge/11279-radpad.html

Sadly, Evolve Money is going extinct on Feb 1. I'm hoping someone knows of a similar service I could start using.

You could use it to pay just about any bill that wouldn't take credit cards (or wouldn't take them without charging an additional fee). I've been using it for mortgage, car loan, student loan, and utility bill payments. It used to be you could use a Discover credit card which was great for racking up more cash back, but a while ago they started adding a 3% fee. Debit cards have remained free for a while, though. I used my debit card because my account has a transaction requirement for earning interest.

I knew getting this for free was too good to last too long. If there's a service that will let you pay bills like this with a debit card for free (or even better a credit card), please share.
-Vattené
FICO-8:
EX - 827 (4/17) | TU - 812 (4/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now


Vermonster
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Re: Any Replacements for Evolve Money?

Postby Vermonster » Fri Jan 08, 2016 12:20 am

Most banks have a "bill pay" option to pay directly out of a checking or savings account.

Amex Serve has a low/no fee option and their bill pay is very good. I used it to may my Freedom and it took 2 days. If they can't do it by wire they will mail a check.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

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Vattené
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Re: Any Replacements for Evolve Money?

Postby Vattené » Fri Jan 08, 2016 7:17 am

Mine does have bill pay. Aren't those ACH payments? I haven't tried it but I assume it would be no different than submitting the payment from the biller's side and pulling from the bank account directly. To get the higher interest in this account, I have to have a certain amount of debit card transactions.

I get that debit card transactions have fees, too, so even if I found a way to keep using my debit card for this I wouldn't expect it to stick around for a long time. I was amazed Evolve Money took Discover credit cards for as long as they did with no fee.
-Vattené
FICO-8:
EX - 827 (4/17) | TU - 812 (4/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

Gamma
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Re: Any Replacements for Evolve Money?

Postby Gamma » Fri Jan 08, 2016 9:29 am

Vattené wrote:I've been using Evolve Money to make monthly bill payments thanks to Gamma and an old thread that doesn't need to be revived:
the-lounge/11279-radpad.html

Sadly, Evolve Money is going extinct on Feb 1. I'm hoping someone knows of a similar service I could start using.

You could use it to pay just about any bill that wouldn't take credit cards (or wouldn't take them without charging an additional fee). I've been using it for mortgage, car loan, student loan, and utility bill payments. It used to be you could use a Discover credit card which was great for racking up more cash back, but a while ago they started adding a 3% fee. Debit cards have remained free for a while, though. I used my debit card because my account has a transaction requirement for earning interest.

I knew getting this for free was too good to last too long. If there's a service that will let you pay bills like this with a debit card for free (or even better a credit card), please share.

Glad to see you made use of it. There is another I noticed around September last year and they're pretty much the same as evolve except with being able to send payments to people. They seem to try to verify bill payments to people you make through their system such as baby sitter, dog walker, etc. Payments to companies such as utilities, loans, and such work nicely.

https://www.plastiq.com

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Vattené
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Re: Any Replacements for Evolve Money?

Postby Vattené » Fri Jan 08, 2016 6:17 pm

I should have thanked you a long time ago for recommending it. Have you been using it, or did you stop after they started charging for credit card payments?

I make small transactions with my debit card each month just to meet the swipe minimum. It worked out well for me that they still took debit cards for free since I could use regular monthly bills as debit swipes when I would otherwise have to just pay directly from a checking account and get nothing extra. I appreciate the Plastiq recommendation, too, but paying a 2.5% fee just doesn't make sense in my case, so I'll have to pass.
-Vattené
FICO-8:
EX - 827 (4/17) | TU - 812 (4/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

Gamma
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Re: Any Replacements for Evolve Money?

Postby Gamma » Fri Jan 08, 2016 6:43 pm

Vattené wrote:I should have thanked you a long time ago for recommending it. Have you been using it, or did you stop after they started charging for credit card payments?

I make small transactions with my debit card each month just to meet the swipe minimum. It worked out well for me that they still took debit cards for free since I could use regular monthly bills as debit swipes when I would otherwise have to just pay directly from a checking account and get nothing extra. I appreciate the Plastiq recommendation, too, but paying a 2.5% fee just doesn't make sense in my case, so I'll have to pass.

I only used it a few times until I got tired of managing the account for a small profit (my utility bills are pretty low every month).
I never used a debit card, but plastiq states using debit card as form of payment is free and credit cards are charged at 2.5%. Not the best for credit card use, but can be ok for debit cards.

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Vattené
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Re: Any Replacements for Evolve Money?

Postby Vattené » Fri Jan 08, 2016 7:14 pm

Oh, I just saw this on their FAQ page and thought it was referring to both credit and debit cards:
https://www.plastiq.com/help/ wrote:In order to provide our members with the choice to use their cards where they otherwise couldn’t, Plastiq charges a 2.5% fee for each payment (subject to change for promotional rates). In addition to the convenience and security of using Plastiq, our members also enjoy the unique ability to earn valuable rewards points for all of their most important payments.
but now I see they state debit cards are free on their main account log in page. Thanks again!

Since at the time I used it for car loans, student loans, and utility bills the profit was worth it to me. Also, it was just as convenient to manage payments from their site as it was through my respective biller's sites, so I was happy using it anyway and inflating my debit card transactions. I really need to get my checking account balance back up so I'm earning more interest now.
-Vattené
FICO-8:
EX - 827 (4/17) | TU - 812 (4/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

JackLane
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Re: Any Replacements for Evolve Money?

Postby JackLane » Sat Jan 23, 2016 7:31 am

I didn't know of Evolve Money but first time I came across such facility was Plastiq. And now RadPad. Since both of them charge a percentage or two, it wasn't worth it. If its free, then you would make money but otherwise you would essentially lose. So I never understood why someone would use such facility by losing money.
Chase Freedom 04/2012. $6500 | Costco Citi 10/2012 $8100 | AmEx BlueCash 06/2015, $15000 |Discover It 07/2015, $5200 |Amazon Store Prime 01/2016 $2200
Local Credit Union secured card, 12/2009 - Closed 02/2015
Tu-764, Ex-764

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Vattené
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Re: Any Replacements for Evolve Money?

Postby Vattené » Sat Jan 23, 2016 10:53 am

JackLane wrote:I didn't know of Evolve Money but first time I came across such facility was Plastiq. And now RadPad. Since both of them charge a percentage or two, it wasn't worth it. If its free, then you would make money but otherwise you would essentially lose. So I never understood why someone would use such facility by losing money.

I definitely wouldn't pay anything with a credit card if it cost me more money* but since if it's free it indirectly makes me money in the form of interest.

*I did pay my property taxes last year on my Discover card, but thanks to their double cash back promo the "convenience fee" or whatever the county charged turned out to be less than the cash back I will (eventually) get, so it was actually a net gain to pay extra to use a credit card in that case. Those are rare.
-Vattené
FICO-8:
EX - 827 (4/17) | TU - 812 (4/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now



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