Inconsistent payment methods

[Anonymous]

I am curious what the consensus is of the community is as to the consequence of inconsistent payment methods. In other words someone who uses the same payment method every month for years, will they be viewed differently than someone who sometimes mails a check, sometimes makes a payment at a branch, but always makes their payments? Any thoughts from anyone? Effect of cash payments effect of using different payment methods on an account?

[longtimelurker]

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@Anonymous wrote:
I am curious what the consensus is of the community is as to the consequence of inconsistent payment methods. In other words someone who uses the same payment method every month for years, will they be viewed differently than someone who sometimes mails a check, sometimes makes a payment at a branch, but always makes their payments? Any thoughts from anyone? Effect of cash payments effect of using different payment methods on an account?

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I don't sending a check in the mail vs paying with a check at the branch that should make a difference.   A variant is when different payment accounts are used, the person pays the bill using Bank A, then another month Bank B and then Bank C.    IMO that's unlikely to cause AA in itself, but if there are other reasons for concern, multiple payment sources may cause some AML team to look more closely.

Cash payments, especially large ones, may get unwanted attention.

Basically, banks pay more attention to things that don't look normal.   Sometimes paying by check in person vs mailing it in is not sufficiently strange.   Giving the teller payments from 10 different banks, with a chunk in cash, is a little more unusual!

[NRB525]

In my mind, there is benefit to being on autopay, and for scheduling your payment, because the CCC algorithm can see that planned payment. Whether that actually makes a difference I cannot say. 

But sending a check, or pushing a payment from your bank are fine, unless the payment is delayed. 

As as soon as whatever payment path you chose has posted, it’s just another payment and that is why the CCC gives you several options to make payments: they just want their money.  

[Pikaboo-icu]

You could probably drop it off by carrier pigeon. 

As long as they get their money, on time, it's all good. 

Some of my accounts allow me to register 3-4 payment source banks so I don't think even multiple banks would spook them too much.

It is the digital age after-all, many people have multiple bank accounts.

CHEERS

[longtimelurker]

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@Pikaboo-icu wrote:

It is the digital age after-all, many people have multiple bank accounts.

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I was wondering how widespread it really is (like looking at MyFico people have LOTS of cards, but in the general population the number is much less!)

I found https://www.gobankingrates.com/banking/banks/how-many-bank-accounts-americans-have/    Not sure of the quality, sample size is 2000, and 50% have accounts at just one bank, 50% have more  (with 2 being the most common).   So if we trust this survey, yes, looks like it is now pretty common!

[Anonymous]

So none of you think it figures into the internal risk algorithms or anything of that nature?

[Andypanda]

On all of my accounts ( capq1, Citi Costco, target red card, and discover)  I make payments from 2 different Wells Fargo accounts. Some of they acounts, they put a 8 day hold until they credited the available balance after the first payment, but no issues since then.

[Anonymous]

As long as they’re getting paid, they likely don’t care. 

[UpperNwGuy]

Paying in cash when the payment is large might put a cardholder on a watch list.  Bad guys use cash to hide the source of the money, and banks are sensitive to that.

[Anonymous]

Hahaha.. I have been chasing bank SUB's for the past two plus years and have numerous savings and checking accounts and I pay my CC's off multiple times a month using what ever account needs some activity. I haven't seen any AA yet...