Exact meaning of "Paying a bill using Bill Pay" question
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I have signed up for a bank deal that requires "Paying a bill using Bill Pay."
I wonder if this means paying a full bill (eBill) set up to receive a bill from a company such as a utility company and then pay the whole bill upon receiving the bill (normally monthly and the full payment is made automatically) or I can just make a $1 bill payment (anytime as a credit) to any company without setting up an eBill payment and qualify?
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What bank, specifically, is offering the deal, @Richard, and what are the terms of the deal?
Bank of America, Chase, US Bank, Wells Fargo, and others all offer Bill Pay…
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I have already accounts with all 4 (Bank of America, Chase, US Bank, Wells Fargo) and a few others…
https://www.efirstbank.com/_advertisements/offers/ is offering $200 if you qualify.
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I’m not seeing any language about a Bill Pay requirement, @Richard …only Online Banking plus either a $500+ direct deposit or $500+ in spending via 10 or more Visa Debit Card purchase transactions:
Requirements
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New account (if former customer, must have been more than 90 days prior to opening new account, and have left while in good standing)
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October 30, 2017 - December 29, 2017 eligibility.
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Open online at efirstbank.com/offers or at FirstBank with special offer in hand.
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Limit one gift per household, per lifetime. Limit one gift per account.
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New account must be in good standing, enrolled in online banking, and receive one direct deposit $500+ (implied: each month).
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Direct deposit must be new to FirstBank and must be payroll, pension, Social Security or other government benefits of $500+ per deposit; multiple direct deposits that exceed $500 only when combined do not qualify.
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Direct deposit requirement may be waived when $500 in net Visa Debit Card purchases are made via 10 or more purchase transactions.
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Requirements must be met within 60 days of account opening and the cash offer will be deposited into the new checking account within 90 days of account opening.
The fine print
We reserve the right to substitute gifts offered at any time with an item of similar value. Limited time offer. The $200 cash offer is considered interest and is subject to IRS and other tax reporting. The cash offer is considered a bonus that can be revoked if the account is closed within six months of opening. FirstBank employees are not eligible to receive the offer. Online Banking plus direct deposit or Visa Debit Card purchases required. The Visa Debit Card is free for the first year after which an annual fee (currently $10 per card) applies. Other conditions and restrictions apply. See branch for details. Member FDIC
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I’ve done these types of deals and in my experience you do not have to set up e-billing. But, of course, a bank is free to interpret there own rules any way they want :-). Good luck!
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I agree and some banks specify a minimum payment ($10, etc.), so $1 bill pays do not qualify.
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@Richard asked:
I have signed up for a bank deal that requires "Paying a bill using Bill Pay."
I wonder if this means paying a full bill (eBill) … or … a $1 bill payment … without setting up an eBill payment…?I double-checked the offer link you sent, as well as the link to apply for this Anywhere Account, but I’m still not seeing where any Bill Pay Requirement is even mentioned for this offer, @Richard…
All I see is:
- You must sign up for online banking (not Bill Pay)
- You must move a minimum of $500 through your account each month, either as a single direct deposit IN or as 10 or more VISA debits OUT
Where are you seeing a Bill Pay requirement?
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Don’t do it. I did this offer. I then went to Disney World in FL. They called and said they were closing my account because it looked suspicious to open an account and then take a trip across the country. I said, “It’s an Anywhere Account,” and they wouldn’t budge. The account closure caused a lot of issues when my direct deposit was in limbo (I couldn’t change it in time), and they dragged their feet giving me my money back.
They closed out my friend’s account too. He’d used the mobile app to deposit a check. Because his work phone sends an out of state IP address, they accused him of accessing their system from “all over the country.”
If you’re just opening the account for the $200, there’s a real anecdotal risk you’ll never get the bonus and have to do unnecessary work to fix the mess First Bank causes.
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@chyvan I considered to open this account but I wasn’t in their zip code to qualify. In general, I decided (in the future) not to bother with this and other smaller banks and credit unions (I had several in mind) any more unless their offers were super easy, generous and a sure thing (based on positive reviews, etc.). Potential account suspensions and other ensuing headaches for transactions they could deem suspicious are not worth the time and money.
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I sent an email to them early this month to find out if I qualify and got the reply that I have to live within certain zip codes where they have branches. I like straightforward replies.
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@chyvan - Did you do a travel alert on the debit card first because that is probably what happened.
