Evolve Money Closing and Suspending Accounts
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Link: Evolve Money
I wrote about how you can buy PIN-enabled gift cards with a miles-and-points earning credit card and use Evolve Money to pay bills that can’t normally be paid by credit card. Then Evolve Money evolved and let you use a credit card directly to pay bills!
But now, Evolve Money is starting to close and suspend accounts of folks who have been abusing the program. Although, a few regular folks have been caught in the net.
Million Mile Secrets reader GLG commented:
Did about 10 payments and got this eMail from Evolve today:
This email is to inform you that your account with this biller at Evolve Money has been suspended due to the volume processed, there is now a 4 payment limit on this account per month. We are unable to allow future payments to this account until July 1, 2014.
Please be advised that future attempts to make a payment to this account prior to this date will result in an authorization hold of funds on your attempted payment method. We regret any inconvenience this causes, but hope that you will continue to pay other billers that are available to you through Evolve Money.
New Changes to Evolve Money
To keep your account from being suspended or closed, you should follow the new changes closely.
A. 4 Payments per Month to 1 Biller
You can only make 4 payments to 1 biller account per calendar month. So each biller account can only receive 4 payments per month.
So if you’re paying your mortgage, you can only send a total of 4 payments to your mortgage company. And if your partner also has an Evolve Money account, and you’ve made 4 payments to your mortgage company, your spouse can NOT make a payment.
So be sure you don’t exceed a TOTAL of 4 payments to any 1 account.Frequent Miler says he thinks you can make 4 payments to any 1 account per billing company. If this is correct, Mrs. McTravelots could make 4 payments to Ford for her F-150 and Mr. McTravelots could make 4 payments to Ford for his Focus.
But if you want to play it safe, stop at 4 payments per month to any 1 company. This was implemented to prevent abuse, but folks who pay their bills with gift cards could be caught in the account suspensions. The good news is that Evolve has been removing the suspensions if you can show that the payments were legitimate.
B. Limits on Gift Cards
You can still use gift cards, but your payments are limited to the amount of the gift card.
You can no longer pay a large bill with 1 payment using multiple gift cards. So if you have a bill for $675 and use two $500 Visa gift cards, that will count as 2 payments against your 4 limit total payments to any 1 account.
C. Payments can’t exceed $999
You can only make payments of $999 each.
Bottom LineEvolve Money is closing and suspending accounts for abuse and has put restrictions in place to prevent abuse.
You can prevent your Evolve Money account from being closed or suspended, if you don’t abuse Evolve! You’re limited to 4 payments to 1 account a month.
You can only make payments in the amount of the gift card. Each payment can’t exceed $999.
How has your experience with Evolve Money been so far?
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