WF BILT Huge Interest Charge

[wasCB14]

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@Remedios wrote:

Someone educate me, but I thought payment account used must be cardholder's or joint account?  

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Banks vary. IME Amex and Citi aren't fussy at all. Chase wants the payment account to be in the name of a primary or AU.

[FinStar]

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@Remedios wrote:

Someone educate me, but I thought payment account used must be cardholder's or joint account?  

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Some FIs (not all) allow non-cardholder or third party payment account to be used online, but only once said account is vetted properly including any vendor or third party UI. The reason I stated "some" is because not every FI accepts a non-cardholder or joint account party as a payee for online or other direct payments. In most instances, things must match on both ends of ACH.

[simplynoir]

And to go back to the payment issue that caused this, here is an example from AMEX's add bank account page. It clearly states there: "You must be the bank holder or an authorized signer on the bank account." Simply being a family member that lets you is not enough, you gotta be listed on the account to make the payment. Again, most banks don't care or figure the customer/bank will catch it since they're getting paid, WF can't be blamed for doing their actual due deligence for once

[BronzeTrader]

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@GatoradeZeroGuy wrote:

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@BronzeTrader wrote:

But WF returned the payment since the payment account owner does not match the BILT card holder. 

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I guess this goes without saying, but a potential P1+P2 joint account in the future might be worth considering to avoid this in the future 

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Sure this is something we can do.  But it is far more complex than that.  We have 4 BILT cards.  And I have multiple bank account to pay off those cards.  It is just that sometime, this is out of my radar and WF BILT is very special.  I have no problem paying other WF CCs.  

[BronzeTrader]

Regardless of the payment account, charging $36 for a $4 statement balance?  

I have some other CCs that will even skip the payment all together.  Nothing is even due for such tiny amount.  

Sure the CC customer rep knew it.  Local banks will certainly know it too.

[BronzeTrader]

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@wasCB14 wrote:

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@Remedios wrote:

Someone educate me, but I thought payment account used must be cardholder's or joint account?  

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Banks vary. IME Amex and Citi aren't fussy at all. Chase wants the payment account to be in the name of a primary or AU.

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With my experience, this is not true.

I use one major bank to do all the payments.  I do all CC payments from the same account (P1+P2) for all credit cards.  WF, AmEx, Chase, Barclay, TD, Citi, US Bank.  P1, P2, P3 and P4.  Never any single problem other than WF BILT.

And I do not have problem with paying from inside BILT account.  

[FinStar]

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@BronzeTrader wrote:

Regardless of the payment account, charging $36 for a $4 statement balance?  

I have some other CCs that will even skip the payment all together.  Nothing is even due for such tiny amount.  

Sure the CC customer rep knew it.  Local banks will certainly know it too.

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The F/C calculation wasn't on just the $4. It was on the ADB of the larger amount, which included the $4 since it was calculated with ADB for the X number of days before you corrected the NSF instance. I bet if you sat down and did the math diligently with the ADB based on what you stated further upthread, you'd see how WF's system charged the $36.

[simplynoir]

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@wasCB14 wrote:

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@Remedios wrote:

Someone educate me, but I thought payment account used must be cardholder's or joint account?  

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Banks vary. IME Amex and Citi aren't fussy at all. Chase wants the payment account to be in the name of a primary or AU.

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I remember one time when Chase called me because I used my personal account that didn't have my wife's name on it to pay for her Altitude Reserve credit card bill. They wanted to make sure it was a legit payment and not her just using my acount without permission. I verified it with them and that was that. They didn't say anything about not doing it again, just a "okay, thanks. bye!"

[Jnbmom]

I can only confirm that cap one doesn't care apparently. I have been helping our son out of a little bind . I added my bank account to his C1 account and made a few payments . They didn't blink an eye . He is NOT on my banking account .

[FinStar]

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@Jnbmom wrote:

I can only confirm that cap one doesn't care apparently. I have been helping our son out of a little bind . I added my bank account to his C1 account and made a few payments . They didn't blink an eye . He is NOT on my banking account .

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I have a statement cycling soon @Jnbmom. Since Capital One didn't mind, would you care if we replicate the same results for my account? 😂 for science of course and the generosity of 2023 🤪