Yodlee MoneyCenter has announced free bill pay... which has been in the works for some time now.
Make payments manually every month or set up recurring payments from any type of payment account (checking, savings, credit card, debit card, etc.).
Time to build up some extra CC rewards/points!
*Note - site is moneycenter.yodlee.com (but use your own link, not mine or FWF's). The Banks sites that use Yodlee (i.e. BoA, etc.) are not part of this NEW free bill pay!
*and yes, I know there is a Yodlee Q&A thread, but it rarely gets updated, and all questioners there are told to go directly to the yodlee forum.*
Alabama Alaska Arkansas Colorado Connecticut District of Columbia Florida Hawaii Idaho Iowa Maine Minnesota Nevada New Jersey New Mexico North Dakota Oregon South Dakota Utah Vermont Wyoming
Getting this to work to allow credit cards on utilities and such would be nice. More abusive purposes would just be icing on the cake.
dl73
Senior Member
posted: Nov. 12, 2009 @ 3:06p
You can add a credit card as the payment account, but I think only for existing payees in their database that they know accept credit cards. I see no real benefit here other than convenience (I can pay my cell phone bill via credit card on Verizon's site or via yodlee). Note also that the bill pay service has a monthly $3000 maximum.
Yeah, unfortunately some payees aren't too cool with using CCs to pay their bills. I was definitely going to give my CC a workout to wring every bit of reward from Citibank. I guess its cool that it is a centralized source.
u600213
Member
posted: Nov. 12, 2009 @ 3:54p
Thanks to OP. I tried to pay my Wells Fargo Home Loan with my HHonors AMEX card but it required a different form of payment. Back to buying $1 coins.
MikeR397
Senior Member - 3K
posted: Nov. 12, 2009 @ 6:11p
Thanks OP. I got this email earlier today and bolded the same terms in my mind immediately. Unfortuantely, it does appear that using cc to pay other cc's or rent or other things you can't already use cc to pay for is not going to work.
there's one credit card that lets you billpay other credit cards. it's fidelity retirement/investment rewards (American Express ). but the billpay doesn't count toward CashBack/rewards. it's just an additional month of float.
X35
Thrifty Member
posted: Nov. 13, 2009 @ 8:04a
how is this different then before? yodlee always had bill pay and they never charged me for it. so I guess they have always had free bill pay?
With credit card bill pay, Yodlee is just the conduit. The vendor that bills you decides whether to accept the credit cards and eats the fees. Using Yodlee is no different than calling the vendor and paying the bill over the phone.
FragOut
Member
posted: Nov. 13, 2009 @ 1:18p
ah crap then, my landlord company allows for credit card payments but charges a $25 "convenience" charge....what a waste of reward potential!
TomE711 said: ah crap then, my landlord company allows for credit card payments but charges a $25 "convenience" charge....what a waste of reward potential!
I'm thinking of prepaying rent. i.e. pay 3-4 months in advance in 1 transaction to cover the convenience charge and make some profit.
It's worth a try, huffboy, but many landlords will be wary of that. Big rent prepayments can be an eviction defense, and there sadly can be very good reasons to evict tenants who pay the rent.
Only payee with credit card logo, will accept credit card payments.
X35
Thrifty Member
posted: Nov. 13, 2009 @ 5:21p
X35 said: how is this different then before? yodlee always had bill pay and they never charged me for it. so I guess they have always had free bill pay?
Does anybody know what is different with this yodlee bill pay then the previous version?
kash007
Member
posted: Nov. 19, 2009 @ 12:08p
X35 said: X35 said: how is this different then before? yodlee always had bill pay and they never charged me for it. so I guess they have always had free bill pay?
Does anybody know what is different with this yodlee bill pay then the previous version?
Previously they only allowed credit cards as "pay from" accounts. Now they let you pay from a bank account.
jdmetz
Thrifty Member
posted: Nov. 19, 2009 @ 1:41p
kash007 said: Previously they only allowed credit cards as "pay from" accounts. Now they let you pay from a bank account. Can this be used to make transfers between deposit accounts? If so, I wonder how long such a transfer would take.
ngreen
Member
posted: Nov. 20, 2009 @ 8:59a
I'm going to have to give this a try, the $3K limit is definitely an issue though. And I don't understand why Charles Schwab billpay can't seem to find Bank of America Home Loans...
dacii
Member
posted: Nov. 21, 2009 @ 3:26p
Not ready for primetime. What a pain in the ass to use trying to set up billpay to Comcast. After adding a citi card as payment account, it tells me it's not eligible. Then I see the "enable card payment" option, so after giving it my comcast acct number for the umpteenth time and my comcast e-bill username/password, supposedly to establish cc payment eligibility, it takes a good while only to fail with "internal error". Now I find yodlee has forgotten most of everything I've inputted before and is now asking for the comcast acct number and payee addr info all over again!
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
Members of our community may attach files to a post in accordance with the User Agreement. FatWallet is not responsible for the content, accuracy, completeness or validity of any information contained in any attached file. Files have *not* been scanned for viruses. Be especially wary of Excel files which may contain malicious content.
