Today, we’ve received an email from Evolve Money stating that you can only pay 1 bill payment per month. In effect, if you are using prepaid cards it is $500 a month per biller. Below is an excerpt of the email (bolding is not mine):
Due to changes in our risk and regulatory compliance policies, Evolve Money will be implementing a limit of one payment per biller account per month. This change takes effect September 1, 2014. There are no limits on the number of cash payments made with a Reloadit pack or Evolve Pay Bucks.
We realize that some of our users have taken advantage of the multiple payments per month to pay off larger expenses such as mortgages. We are currently working on ways to improve the bill paying experience for you and expect to announce details soon.
Since they specifically called out mortgage payments, I really hope a larger bill payment is possible.
In the past few months, I’ve thought about overpaying my car insurance and having a check written to me since it would be free. If my car insurance said anything about the overpayments, I would have said it was my “bill payer overpaying.”
Let’s hope something good comes out in the near future, I’ll be keeping my eye out.
