topic Re: ACH Pull vs Bill pay Push in Credit Cards

ACH Pull vs Bill pay Push

Anonymous — Tue, 03 Sep 2013 03:16:38 GMT

Does anyone know the pros and cons when comparing the two? I really have no idea. A simple Google search did not help.

Re: ACH Pull vs Bill pay Push

SnackTrader — Tue, 03 Sep 2013 03:41:27 GMT

As long as it pays your bill - who cares!?

But seriously, for many issuers an ACH pull will get credited to your account immediately, or very soon thereafter where as a push has to wait until it gets to the receiving bank. For instance, if I remember I need to pay my CC bill tonight, I can log on and schedule an ACH Pull and the CC company will likely credit me for the payment today. Meaning, it won't be late. But if I schedule a push from my checking account, that payment might not get to the CC company until Thursday.

So from a time perspective there is a difference, but otherwise, I don't really see any reason to pick one over the other. I find pulls through my CC logins easiest.

Re: ACH Pull vs Bill pay Push

Anonymous — Tue, 03 Sep 2013 03:59:15 GMT

Well there you go! ACH Pull FTW. Anything fast is good in my book.

Re: ACH Pull vs Bill pay Push

Anonymous — Tue, 03 Sep 2013 03:59:39 GMT

Pushes are useful when the issuer website has some restrictions on payment, e.g. you cannot pay until a balance is posted, only pay X times per cycle, cannot pay more than 1.Y times current balance. Doing a push overcomes these restrictions.

But, these are generally only when people are micro-managing utilization, so for many people not really needed.

The other time I use push is from Bluebird to a credit card. You cannot pull from Bluebird (or rather, I don't know how!) and this is the quickest way to repay manufactured spend.

Re: ACH Pull vs Bill pay Push

Anonymous — Tue, 03 Sep 2013 04:16:35 GMT

@Anonymous wrote:
Pushes are useful when the issuer website has some restrictions on payment, e.g. you cannot pay until a balance is posted, only pay X times per cycle, cannot pay more than 1.Y times current balance. Doing a push overcomes these restrictions.

But, these are generally only when people are micro-managing utilization, so for many people not really needed.

The other time I use push is from Bluebird to a credit card. You cannot pull from Bluebird (or rather, I don't know how!) and this is the quickest way to repay manufactured spend.

It's funny you mentioned the ACH pull from BB. Just now, on my student loan website, for fun i added the routing and checking # from BB and it worked! It said "Saved success from American Express Centurtion Bank - Checking". However i'm reluctant to use it as an ACH pull because the BB terms says you cannot do it and should only use BillPay to pay bills. hmmh...

FWIW, i tried adding it to Chase Student loans, Chase credit card, Discover student loans, and it would not accept the BB routing & checking #. Only my government loans would.

thanks for the info, btw.

Re: ACH Pull vs Bill pay Push

Open123 — Tue, 03 Sep 2013 04:36:46 GMT

I always prefer push, since before any bill pay, I always send a $1.00 test payment. Once that goes through, I just pay at my leisure.

The only reason don't like pulling is the chance of inputing wrong account information. One digit off, and the payment bounces; and, lord knows what sort of hassles this will create.

Re: ACH Pull vs Bill pay Push

JonStur — Tue, 03 Sep 2013 13:20:05 GMT

The only push I use is for my 5th Third World MC because they want you to have an account with them to pay online... So I would have to go to a branch or try to mail a payment...

Re: ACH Pull vs Bill pay Push

thom02099 — Tue, 03 Sep 2013 16:09:53 GMT

@Anonymous wrote:
Pushes are useful when the issuer website has some restrictions on payment, e.g. you cannot pay until a balance is posted, only pay X times per cycle, cannot pay more than 1.Y times current balance. Doing a push overcomes these restrictions.

But, these are generally only when people are micro-managing utilization, so for many people not really needed.

The other time I use push is from Bluebird to a credit card. You cannot pull from Bluebird (or rather, I don't know how!) and this is the quickest way to repay manufactured spend.

+1. If one has credit cards, it's important to know the rules of the game, as far as what each issuer will allow. If you know each company's rules, up front, then you know when you need to PUSH vs PULL a payment.

For example: Wells Fargo will only allow 2 payments to PULL from within their on line account payment process. However, one can PUSH as many times as you'd like. Chase also has limitations. They require a 3 day window for payments, you make a payment, then have to wait 3 days to PULL another payment, whereas you can PUSH whenever you'd like.

And....as Lurker said, this all really comes down to micro-managing accounts. Yes, there may be times when one needs to do a PULL and PUSH to a payment, but for most folks I don't think it's really necessary.

Re: ACH Pull vs Bill pay Push

Blackbeauty212 — Tue, 03 Sep 2013 16:39:00 GMT

I've always prefered to PUSH my payments for the following reasons:

1 - I like being able to manage all my accounts from one source, and all my bill except for my rent are sent electronically so I can have my payments post as soon as next businessday. Its more manageable for me this way.

2 - Some PULLS will actually charge a fee (mostly utilities). I will not pay a fee to take my $$$$$$$.

3 - I pay my Everyday card a couple times a month to always have a 0$ report to the CRAs. As other said PULLS can restrict when and how much you can pay. Id rather have the flexability of PUSH.

To be honest the only advantage I see for PULLS are if you need to make a payment on the Due Date or the day before Statement Cycle (for us Util watchers)

Re: ACH Pull vs Bill pay Push

Anonymous — Tue, 03 Sep 2013 16:38:56 GMT

Some utilities charge for a (pull) payment from a bank account? Wow! Mine charge for credit card, but that makes a little more sense. Generally ACH payment is much cheaper for the business than someone sending in a check.

Re: ACH Pull vs Bill pay Push

Anonymous — Tue, 03 Sep 2013 16:40:40 GMT

@thom02099 wrote:
@Anonymous wrote:
Pushes are useful when the issuer website has some restrictions on payment, e.g. you cannot pay until a balance is posted, only pay X times per cycle, cannot pay more than 1.Y times current balance. Doing a push overcomes these restrictions.

But, these are generally only when people are micro-managing utilization, so for many people not really needed.

The other time I use push is from Bluebird to a credit card. You cannot pull from Bluebird (or rather, I don't know how!) and this is the quickest way to repay manufactured spend.
+1. If one has credit cards, it's important to know the rules of the game, as far as what each issuer will allow. If you know each company's rules, up front, then you know when you need to PUSH vs PULL a payment.

For example: Wells Fargo will only allow 2 payments to PULL from within their on line account payment process. However, one can PUSH as many times as you'd like. Chase also has limitations. They require a 3 day window for payments, you make a payment, then have to wait 3 days to PULL another payment, whereas you can PUSH whenever you'd like.

And....as Lurker said, this all really comes down to micro-managing accounts. Yes, there may be times when one needs to do a PULL and PUSH to a payment, but for most folks I don't think it's really necessary.

The 3 day window for Chase payments disapeared for me last month, I am not sure why but I was able to pay daily

Re: ACH Pull vs Bill pay Push

Pat94108 — Tue, 03 Sep 2013 17:21:00 GMT

They both have pros and cons. Like some have said, when you use ACH pull, the payment is credited on the same day unlike a push that can take up to two or three days to arrive to your payee or sometimes four if the bank has to mail a live check.

People sometimes prefer push as they don't like having a company having their banking info and pulling money out of their account (I have read stories about companies pulling the wrong amount of money for instance) . With push, you are in control of all that and you manage your bills from one website (your bank's) as noted by BlackBeauty. In the end, it's all a matter of prefereces (I used both) but ACH pulling is usually faster.

Re: ACH Pull vs Bill pay Push

thom02099 — Tue, 03 Sep 2013 19:39:19 GMT

@Anonymous wrote:
Some utilities charge for a (pull) payment from a bank account? Wow! Mine charge for credit card, but that makes a little more sense. Generally ACH payment is much cheaper for the business than someone sending in a check.

Yup, my city utilities charges regardless of the method of pull. And I just renewed my license plates on line with the Colorado Department of Revenue and they charged a $3 "convenience fee". Bad enough that they jacked up the renewal fees across the board, now this convenience fee?!!?

Re: ACH Pull vs Bill pay Push

DaveSignal — Tue, 03 Sep 2013 19:53:07 GMT

I use both, depending on the account or the timeframe. There are good reasons to use either method, as has already been mentioned in previous posts here.

Re: ACH Pull vs Bill pay Push

Anonymous — Tue, 03 Sep 2013 19:54:12 GMT

That is great info from everyone. For me, since I only pay once a month and i'd like to get it paid ASAP, then an Automatic ACH Pull seems to suit my needs better. And there is no fees for me to do an ACH pull for all my payees.

Re: ACH Pull vs Bill pay Push

injustifiiable — Tue, 03 Sep 2013 20:26:18 GMT

@DaveSignal wrote:
I use both, depending on the account or the timeframe. There are good reasons to use either method, as has already been mentioned in previous posts here.

+100 on this one. Good example: Credit One will update the available credit on the 2nd business day the payment is made if you push it from your bank. If you do a pull payment from their site, they can put a hold on it for up to 15 days.

Re: ACH Pull vs Bill pay Push

Blackbeauty212 — Tue, 03 Sep 2013 22:14:09 GMT

Hmmmm this is why I never bothered with these shady starter/rebuilder card companies....

1 - A push from your bank to Credit One is 99.9% sent elecrontically through the ACH, there's no reason for them to hold Available credit. Immeda

2 - I hope all they do is Hold the available credit for 2 Bus Days, but post the payment immedately. Its illegal(by Fed Law) to Hold ACH payments, they must be posted on the date recieved. Just like DD from you job your bank by law must make those funds available immediately because it passes through the ACH.