craig10x said:David, despite his rantings, i had pasted in info from Fundsxpress website, which the moderators had deleted because they didn't feel it was relevant to this thread, but in it, it mentioned that they use Checkfree as their bill pay partner in the Fundsxpress interface....

An easy way to tell if it is Checkfree (rather then Metavante) see if it lets you schedule an electronic bill pay for the next business day, if it does, it is likely Checkfree as Metavante is slower....Also, if a little "payment assistant" window pops up when you are scheduling a bill pay, the you definately have Checkfree....

Can you please stop speading false information. I am sure other people beside me would be greatfull too

Metavante said:Source goto page 4 paragraph 4 Using Metavante services for payee management, recurring, automated, and one-time payments, future and same day/next day payments, and eBill distribution gives you control over a consistent and comprehensive user experience.

Not only does Metavante allow next day payment(like Checkfree via BOA and others) but they even allow same day payments. Metavante is not slower than Checkfree. Just like Citibank use Checkfree and requires you enter your payment 4 days in advance vs BOA allows next day payments. Banks are free to choose the cut off time required for Metavante to process the payment. You can not tell 1 provider from other unless the provider is listed Checkfree web page or like USAA has the Powered By Checkfree logo on there web page.

P.S. everytime you make a reference to me Craig I going to look up any and all info you post to make sure it accurate and not false or made up information like today posts because of your past track record of having conversations with "Super Special Secret Customer Service Rep" about coming changes that never happen but your not posting false info but reporting what your told. So far on that info you posted you are like 0/5 on facts that I can think off of the top of my head.

The only thing you proved was you found a from press release from 2005 that contracts there Fundsxpress current web page and considering the company changed owners in June of 2006 I am willing to bet there current page is correct just like Metavante current web page is correct. If reporters fact checked like you then we all would be getting false information all day.

I called and spoke to Brain like I said before in Tech support and you acknowleged speaking to him in the past as well. He claims they dont use Checkfree on there web page. Personally based on your track record of CSR feeding you false information which you claim is not your fault. I personally dont believe anything a rep tells you or anything you post on here anymore as it become more than apperant you based your facts on your experiances with a bank and not facts or reality. The fact the banks you bank who use metavantee do not allow E-bills or next day payment is irrelevant.Your claim that if a web page has E-BIlls or supports next day payment then it must be using checkfree are completely false. Your claim that Fundsxpress does not support E-Bills nor does metavantee are false. You claims that only Checkfree allows next day payment are false as proven by Metavantee current web page.

If I checked facts like you and make up info like you then I would make a comment like Checkfree requires you to schudule payments 4 days in advanace and does not deduct money for ETF payments till the due date and only issues checks drawn against your account and will not deduct funds till the check is cleared or due date which ever is later because that is how Citigroup PB web page works which is 100% completely different than BOA web page who also uses Checkfree.

Please stop responding and continue this arguements I think the facts speak for themself about you Craig, you need to continue to take cheap shots at me all time for exposing your false facts, can never let anyone have last word even when you are wrong. While I might be wrong at time because I misunderstand a press release I simply dont make up facts like you which are completely false, unverifiable, when people call up CSR get told completely different info etc. Reason I some times misunderstand press releases is english is not my first language unlike you who went to school here. I post links and back up for my posts.

I dont post outdated press releases. Then continue to argue and claim info on there current web page is wrong. That is no different that quoting 2003 Press release from Citibank on TYP network which stated 5K points = $50 GC which we both know is no longer the current redemtion values and continue to argue that because the press release says it is then you can get a $50 GC for 5K TYP.

Folks, it's 4th of July Go watch some pretty fireworks instead of starting one here

Back to topic: I do not think that the 10 debit transactions per month requirement is a big deal. There are also ways to do minimum transactions as discussed in the other thread.

LOL 76hhma....ok, yeah actually i am looking forward to watching the fireworks tonight...I promise! No more fireworks, here..we have exhausted them, and quite frankly, it is getting to be rather tedious and boring (even to me...lol)....so even if someone tries to dump more fireworks in my lap...i am going to walk away from it from now on....

GroveStreetOg...i was curious, your satellite company doesn't mind you doing all those small debit payments to them? I have Time Warner Cable and can also pay in that manner...hmmm you are giving me ideas here!
Also, how do you do 8 transactions to buy a single banana? (lol)

GroveStreetOG said:For the banana, it's simple, you go to the self-checkout, pick credit or debit on the terminal, pick credit or debit on the PIN pad (I always pick credit) slide the card, and when it shows you the amount and asks is that right, you push NO, it then asks you OK, how much, and I put in 3 cents. It processes it, and then it says, OK, you've got 24 cents left, and starts the whole payment transaction again. Work through the process, pay another 3 cents. And so on, all the way to the end if there's no line. If there's a line, I finish up after no more than a couple runs through.

GroveStreetOG, very interesting technique, thanks for sharing. As a former KTC banana buyer myself (gotten "busted" for buying them in rapid succession by raising suspicion if I stole the one I'm eating while I'm buying the next), I very much appreciate new ideas on that. So if I understand it correctly, you're telling the terminal you want to make split payments, correct? Do most of the self checkout systems have this feature?

Here's a stupid question, just to make sure, the reward checking accounts requiring a certain number of check card transactions don't usually require the transaction to be pin-based POS transactions, right? So credit transactions, online transactions etc are all game?

mariojm, my bank, CNBT, was kind of a pioneer in the idea of a Rewards Checking type of account (with 10 debit card transactions required) although in my case, i use a different account that they offer, that doesn't require as many (only 4) which is much easier for me to manage (but still has the unlimited rebates although the interest rate is lower)...

From my experience, the transaction, must be done as CREDIT not debit, in order for it to count toward the number you need...And, yes, they have to be the "non-pin" based transactions....which is why you have to do it as "credit".

So, when i use it in my local supermarket to buy 1 item each week (that's just to get the 4 i need for the month) i tell
the girl "credit" and then i hit credit (rather then debit) before i swipe my card...and that does it!

And sure, you could do it as internet "credit card" type purchases and all that.....
Hope that helps...

76hhma said:It may be YMMV (i.e., check with the specific bank for its rules).

Both credit and debit transactions are counted in my case for Danversbank Rewards Checking. I prefer to use the card as a debit (with PIN) transaction since the exact amount is deducted (not a pre-authorized amount which may well exceeds my actual charge) at the exact timing (no delays of posting). By using it as credit there might be some minor rebate (termed Points2U for Danversbank) which I don't care about anyway.I have heard/read that debit cards are the cause of many overdraft situations because of the practice of "blocking" more than the amount actually being charged. That seems a bit unfair and undisclosed as well. Toledo Bank waives the overdraft charge for the first 3 occurrences (I believe, annually). Even so, I'd only use a debit card for small transactions so as to avoid any potential problems.

In any case, I just mailed off my notarized forms and now await the formal notification that my internet banking has been approved and the receipt of my debit card. I deposited $25k from GMAC. Once everything looks to be in order, I'll transfer over the rest of my cash to this wonderful-sounding checking account and hope that the great rate lasts!

DavidScubadiver said:76hhma said:It may be YMMV (i.e., check with the specific bank for its rules).

Both credit and debit transactions are counted in my case for Danversbank Rewards Checking. I prefer to use the card as a debit (with PIN) transaction since the exact amount is deducted (not a pre-authorized amount which may well exceeds my actual charge) at the exact timing (no delays of posting). By using it as credit there might be some minor rebate (termed Points2U for Danversbank) which I don't care about anyway.I have heard/read that debit cards are the cause of many overdraft situations because of the practice of "blocking" more than the amount actually being charged. That seems a bit unfair and undisclosed as well. Toledo Bank waives the overdraft charge for the first 3 occurrences (I believe, annually). Even so, I'd only use a debit card for small transactions so as to avoid any potential problems.

In any case, I just mailed off my notarized forms and now await the formal notification that my internet banking has been approved and the receipt of my debit card. I deposited $25k from GMAC. Once everything looks to be in order, I'll transfer over the rest of my cash to this wonderful-sounding checking account and hope that the great rate lasts!

Could that really cause an overdraft? When the amount is pre-authorized, it doesn't post to your account yet, right? I suppose as long as you do pin-based transactions you should be fine. The problem is using a debit card for credit purchases.

GroveStreetOG said:Yeah, there ain't gonna be any overdraft charges from Fatwallet posters making 10 $1.00 transactions per month so they can get 6% on $100,000 on up.

David, what happens if the first statement period closes before you get the card, so that you can't make the 10 transactions, or if the ACH payment you need to make doesn't happen during that time?

I called them up on Tuesday, and they told me the ACH had to be automatically initiated, it couldn't be self-initiated. So I would, for example, have to autopay my phone bill on their scheduled date of the 6, rather than to a self-initiated payment whenever I felt like it. Not sure if I was clear enough so she really understood me, though, she could have been thinking I was asking about the distinction between a push-type bill-pay transaction and a pull-type ACH transaction.I was advised by the teller who opened my account that the first statement (through the 15th of the month) earned the bonus regardless of whether you met the requirements (in response to my E-mail question about not having an ATM card for up to two weeks). I can't say much about the ACH requirement. It looked simple enough from what I recall reading, but just in case, I will have my Chase card auotpay from Toledo rather than ING. Frankly, it is my intent to have my mutual funds also ach-pull from Toledo, so under any definition those should be auto ach debits.

Will this bank be able to handle paying out large sums of interest? According to Bankrate :

"For the three months ended March 31, 2007, the bank recorded net income of $135.00 thousand"

I see the terms of the deal changed by the end of summer, removing out-of-state clients.