Fidelity CMA bill pay not working

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Topic Author
jeremyl
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Location: Indiana

Fidelity CMA bill pay not working

Post by jeremyl »

Fidelity's bill pay through Elan financial bank is having issues paying 2 of my payees. One is penfed for an auto loan (which has happened multiple times now) and now a new utility bill. I have done their bill pay inquiry firm on each payee and it states I can expect a reply within 10 days. I have not received a reply for multiple inquiries on my auto loan payee and nothing back on my utility inquiry.

I've used the fidelity CMA for a couple of years and never had issues with bill pay until now. When I called Elan bank, they can't tell me why this is am issue either.

Anyone else experience similar issues with their bill pay through fidelity CMA?

I'm about to change to a traditional bank as a result. Thought I'd see if anyone else has had this same issue and fix for it.
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TomatoTomahto
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Re: Fidelity CMA bill pay not working

Post by TomatoTomahto »

Similar but not same issue. Fidelity’s CMA put a hold on deposited funds (from BoA!) for so long that I bounced a purchase. I just went back to using my bank.
I get the FI part but not the RE part of FIRE.
MrJedi
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Re: Fidelity CMA bill pay not working

Post by MrJedi »

I don't think Elan is associated with the Fidelity CMA or bill pay at all. They run Fidelity's credit card but not the other bank-like services.
muffins14
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Re: Fidelity CMA bill pay not working

Post by muffins14 »

I haven’t had the issue. Is it sending the funds electronically or sending a paper check?

For my utility, I give the company my routing and account number and they pull monthly, so I don’t use bill pay for that.

I have used bill pay to send a check to a relative, and it worked fine that time, and I did it once for a rental security deposit and it was also OK
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abner kravitz
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Re: Fidelity CMA bill pay not working

Post by abner kravitz »

I have been using their bill pay for years and years, never had one problem. I enter all my payees manually, if that makes any difference. I make sure the account numbers and addresses are what I want, not what their system can find.
Topic Author
jeremyl
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Location: Indiana

Re: Fidelity CMA bill pay not working

Post by jeremyl »

abner kravitz wrote: Wed Mar 09, 2022 8:16 am I have been using their bill pay for years and years, never had one problem. I enter all my payees manually, if that makes any difference. I make sure the account numbers and addresses are what I want, not what their system can find.
Same here. Not sure why it's a problem all of a sudden. I've called fidelity and they blamed me there first time but it's happened twice more since. Frustrating.

I'm probably going to switch banks sometime next month to avoid late payment or double payment.

Just wanted to see if there were others that came across this.
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JoMoney
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Re: Fidelity CMA bill pay not working

Post by JoMoney »

I switched to a bank for other reasons, but I had no problems with Fidelity's CMA bill pay.

Elan Financial has nothing to do with Fidelity's CMA, they're the issuer ot the Fidelity Rewards Visa credit card that is a different product.
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Chip
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Re: Fidelity CMA bill pay not working

Post by Chip »

I've been using the Fido billpay for 15+ years at about 70 payments a year and have had maybe 5 problems. But those problems have been confined to a couple of specific payees, who seemed to manage to lose checks. All cases were fairly easy to resolve with Fidelity.

My most recent issue was with a medical provider who sent me a past due letter on a small payment. The payment was to have been delivered over a month before the past due bill was received. The payee didn't answer the phone after 30 minutes of hold time so I gave up with them. After checking online to verify the check hadn't been cashed I assumed the check had been lost in the mail. I initiated an inquiry at Fidelity and, as part of the inquiry, asked that they stop payment on the check. I issued a replacement check through billpay.

Four days later the payee attempted to cash the check. I received a very cryptic email from Fidelity that "a check had been returned due to insufficient funds". Pretty laughable given the balance in the account. It wasn't insufficient funds, it was because they had indeed stopped payment.

In a later phone call the payee claimed that they must have just received the check the day before they tried to cash it, because they "always cash checks immediately". I suppose that kind of mail delay is possible given the performance of the USPS over the last couple of years. But I've had several other payments where crediting was substantially delayed with this particular payee. So my gut says to blame them.

I will say that I have received no other information from Fidelity about this most recent inquiry. They did send me a written notice about the stop payment order. Perhaps they considered the matter closed when they stopped payment.
Topic Author
jeremyl
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Location: Indiana

Re: Fidelity CMA bill pay not working

Post by jeremyl »

Chip wrote: Wed Mar 09, 2022 10:02 am I've been using the Fido billpay for 15+ years at about 70 payments a year and have had maybe 5 problems. But those problems have been confined to a couple of specific payees, who seemed to manage to lose checks. All cases were fairly easy to resolve with Fidelity.

My most recent issue was with a medical provider who sent me a past due letter on a small payment. The payment was to have been delivered over a month before the past due bill was received. The payee didn't answer the phone after 30 minutes of hold time so I gave up with them. After checking online to verify the check hadn't been cashed I assumed the check had been lost in the mail. I initiated an inquiry at Fidelity and, as part of the inquiry, asked that they stop payment on the check. I issued a replacement check through billpay.

Four days later the payee attempted to cash the check. I received a very cryptic email from Fidelity that "a check had been returned due to insufficient funds". Pretty laughable given the balance in the account. It wasn't insufficient funds, it was because they had indeed stopped payment.

In a later phone call the payee claimed that they must have just received the check the day before they tried to cash it, because they "always cash checks immediately". I suppose that kind of mail delay is possible given the performance of the USPS over the last couple of years. But I've had several other payments where crediting was substantially delayed with this particular payee. So my gut says to blame them.

I will say that I have received no other information from Fidelity about this most recent inquiry. They did send me a written notice about the stop payment order. Perhaps they considered the matter closed when they stopped payment.
Funny you mentioned the payees timing of cashing checks. I was able to ask a fidelity CSR and he dug in. He read me my inquiry and noted that a stop payment had been completed per my request. Which is good. He v told me the check was sent out and the payee may have some reason for not cashing out yet or never received it.

Afterwards I called Penfed and the lady told me it can take a couple oof weeks to receive mailed checked due to USPS. I can believe that might be a potential scenario but I sent
The payment 2 weeks before due date. But whatever. So I'll just do transfer to penfed savings then pay it.

Just frustrating it's happening with the most recent payee I added now.

Good to hear another person's story on this.

Thanks!
Chip
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Re: Fidelity CMA bill pay not working

Post by Chip »

jeremyl wrote: Fri Mar 11, 2022 9:59 pm Funny you mentioned the payees timing of cashing checks. I was able to ask a fidelity CSR and he dug in. He read me my inquiry and noted that a stop payment had been completed per my request. Which is good. He v told me the check was sent out and the payee may have some reason for not cashing out yet or never received it.

Afterwards I called Penfed and the lady told me it can take a couple oof weeks to receive mailed checked due to USPS. I can believe that might be a potential scenario but I sent
The payment 2 weeks before due date. But whatever. So I'll just do transfer to penfed savings then pay it.
Well, the replacement check that I issued to the incompetent payee still hasn't been cashed. It was supposed to be delivered by 2/23. Fidelity billpay allowed a full week of mailing time from the date I issued the check on 2/16. So this payee has likely had this check for 3 weeks and hasn't cashed it.

Here's the kicker. They are located in the same city as I am.
Topic Author
jeremyl
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Location: Indiana

Re: Fidelity CMA bill pay not working

Post by jeremyl »

Chip wrote: Sat Mar 12, 2022 4:45 am
jeremyl wrote: Fri Mar 11, 2022 9:59 pm Funny you mentioned the payees timing of cashing checks. I was able to ask a fidelity CSR and he dug in. He read me my inquiry and noted that a stop payment had been completed per my request. Which is good. He v told me the check was sent out and the payee may have some reason for not cashing out yet or never received it.

Afterwards I called Penfed and the lady told me it can take a couple oof weeks to receive mailed checked due to USPS. I can believe that might be a potential scenario but I sent
The payment 2 weeks before due date. But whatever. So I'll just do transfer to penfed savings then pay it.
Well, the replacement check that I issued to the incompetent payee still hasn't been cashed. It was supposed to be delivered by 2/23. Fidelity billpay allowed a full week of mailing time from the date I issued the check on 2/16. So this payee has likely had this check for 3 weeks and hasn't cashed it.

Here's the kicker. They are located in the same city as I am.
Those scenarios are funny yet frustrating. When I talked to fidelity on Thursday the check was stopped. I checked my account at penfed last night & penfed finally cashed a check. 3 weeks after it was sent. So 2 payments made in March. Lol
jmw
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Re: Fidelity CMA bill pay not working

Post by jmw »

My paper check payments have been taking around two weeks lately (range is 10 days to 4 weeks to post the payment). Between slow USPS service and creditors not posting paper checks timely, I don't do paper check payments anymore whether it's Billpay or myself. I'd look for any other way to pay other than via the slow as molasses USPS.
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whodidntante
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Re: Fidelity CMA bill pay not working

Post by whodidntante »

TomatoTomahto wrote: Wed Mar 09, 2022 7:17 am Similar but not same issue. Fidelity’s CMA put a hold on deposited funds (from BoA!) for so long that I bounced a purchase. I just went back to using my bank.
The hold times are weirdly long for ACH pulls and for remote check deposits. My account is well seasoned, and I've had huge amounts and small amounts of money with Fidelity. Nothing made a difference.

Pro-tip: brokerage account holds are shorter up to 2k.
Second pro-tip: you can back the CMA with margin in your brokerage account.
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TomatoTomahto
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Re: Fidelity CMA bill pay not working

Post by TomatoTomahto »

whodidntante wrote: Sat Mar 12, 2022 5:49 pm
TomatoTomahto wrote: Wed Mar 09, 2022 7:17 am Similar but not same issue. Fidelity’s CMA put a hold on deposited funds (from BoA!) for so long that I bounced a purchase. I just went back to using my bank.
The hold times are weirdly long for ACH pulls and for remote check deposits. My account is well seasoned, and I've had huge amounts and small amounts of money with Fidelity. Nothing made a difference.

Pro-tip: brokerage account holds are shorter up to 2k.
Second pro-tip: you can back the CMA with margin in your brokerage account.
Fidelity is where my wife’s RSUs are held, 401k, previous employer’s 401k, some taxable accounts, etc.

We have a special rep there. He apologized and explained that the bank that Fidelity uses has its own protocols and there wasn’t much he could do. I told him that I understood, that I hadn’t bounced a payment since college and I was receiving Social Security now, and that I could assure him it wouldn’t happen again.
I get the FI part but not the RE part of FIRE.
UpperNwGuy
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Re: Fidelity CMA bill pay not working

Post by UpperNwGuy »

Why do people even use "bill pay" services? I just pay bills with a "pull" from the websites of the billing merchants.
ectospheno
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Re: Fidelity CMA bill pay not working

Post by ectospheno »

UpperNwGuy wrote: Sat Mar 12, 2022 8:32 pm Why do people even use "bill pay" services? I just pay bills with a "pull" from the websites of the billing merchants.
I would rather login to one site than a dozen.
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TomatoTomahto
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Re: Fidelity CMA bill pay not working

Post by TomatoTomahto »

UpperNwGuy wrote: Sat Mar 12, 2022 8:32 pm Why do people even use "bill pay" services? I just pay bills with a "pull" from the websites of the billing merchants.
I think many of us call it “bill pay” regardless of whether it’s a push or a pull. Some of my bills don’t have web sites; eg, my quarterly trash payment goes out from my bank.
I get the FI part but not the RE part of FIRE.
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anon_investor
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Re: Fidelity CMA bill pay not working

Post by anon_investor »

TomatoTomahto wrote: Sat Mar 12, 2022 8:19 pm
whodidntante wrote: Sat Mar 12, 2022 5:49 pm
TomatoTomahto wrote: Wed Mar 09, 2022 7:17 am Similar but not same issue. Fidelity’s CMA put a hold on deposited funds (from BoA!) for so long that I bounced a purchase. I just went back to using my bank.
The hold times are weirdly long for ACH pulls and for remote check deposits. My account is well seasoned, and I've had huge amounts and small amounts of money with Fidelity. Nothing made a difference.

Pro-tip: brokerage account holds are shorter up to 2k.
Second pro-tip: you can back the CMA with margin in your brokerage account.
Fidelity is where my wife’s RSUs are held, 401k, previous employer’s 401k, some taxable accounts, etc.

We have a special rep there. He apologized and explained that the bank that Fidelity uses has its own protocols and there wasn’t much he could do. I told him that I understood, that I hadn’t bounced a payment since college and I was receiving Social Security now, and that I could assure him it wouldn’t happen again.
Is the conclusion that a Fidelity CMA is NOT quite as reliable as an actual bank account?
criticalmass
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Re: Fidelity CMA bill pay not working

Post by criticalmass »

jeremyl wrote: Wed Mar 09, 2022 6:47 am Fidelity's bill pay through Elan financial bank is having issues paying 2 of my payees. One is penfed for an auto loan (which has happened multiple times now) and now a new utility bill. I have done their bill pay inquiry firm on each payee and it states I can expect a reply within 10 days. I have not received a reply for multiple inquiries on my auto loan payee and nothing back on my utility inquiry.

I've used the fidelity CMA for a couple of years and never had issues with bill pay until now. When I called Elan bank, they can't tell me why this is am issue either.

Anyone else experience similar issues with their bill pay through fidelity CMA?

I'm about to change to a traditional bank as a result. Thought I'd see if anyone else has had this same issue and fix for it.
1.) What does Elan, a subsidiary of US Bank have to do with the Fidelity cash management account or Bill Pay? I'm confused here. US Bank operates a co-branded credit card, unrelated to the cash account.

2.) Fidelity CMA checking account is run by UMB.

3.) Fidelity's Bill Pay provider is FiServ's Checkfree, the same provider that most banks (including BoA) use. Checkfree decides how the payment is sent. If the payee has a Checkfree merchant account setup, they can receive payments up to $2,500 via ACH. Pentagon Federal Credit Union can be a bit disorganized. Ensure your payment is going to the auto loan address, not to credit cards, mortgages, home equity loans, etc.
gpburdell
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Re: Fidelity CMA bill pay not working

Post by gpburdell »

UpperNwGuy wrote: Sat Mar 12, 2022 8:32 pm Why do people even use "bill pay" services? I just pay bills with a "pull" from the websites of the billing merchants.
I let nothing pull automatically from any my accounts, that's why.
UpperNwGuy
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Re: Fidelity CMA bill pay not working

Post by UpperNwGuy »

gpburdell wrote: Sun Mar 13, 2022 2:35 am
UpperNwGuy wrote: Sat Mar 12, 2022 8:32 pm Why do people even use "bill pay" services? I just pay bills with a "pull" from the websites of the billing merchants.
I let nothing pull automatically from any my accounts, that's why.
Neither do I. I don't do autopay of any kind, not push, not pull.
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jeremyl
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Re: Fidelity CMA bill pay not working

Post by jeremyl »

criticalmass wrote: Sat Mar 12, 2022 10:04 pm
jeremyl wrote: Wed Mar 09, 2022 6:47 am Fidelity's bill pay through Elan financial bank is having issues paying 2 of my payees. One is penfed for an auto loan (which has happened multiple times now) and now a new utility bill. I have done their bill pay inquiry firm on each payee and it states I can expect a reply within 10 days. I have not received a reply for multiple inquiries on my auto loan payee and nothing back on my utility inquiry.

I've used the fidelity CMA for a couple of years and never had issues with bill pay until now. When I called Elan bank, they can't tell me why this is am issue either.

Anyone else experience similar issues with their bill pay through fidelity CMA?

I'm about to change to a traditional bank as a result. Thought I'd see if anyone else has had this same issue and fix for it.
1.) What does Elan, a subsidiary of US Bank have to do with the Fidelity cash management account or Bill Pay? I'm confused here. US Bank operates a co-branded credit card, unrelated to the cash account.


2.) Fidelity CMA checking account is run by UMB.

3.) Fidelity's Bill Pay provider is FiServ's Checkfree, the same provider that most banks (including BoA) use. Checkfree decides how the payment is sent. If the payee has a Checkfree merchant account setup, they can receive payments up to $2,500 via ACH. Pentagon Federal Credit Union can be a bit disorganized. Ensure your payment is going to the auto loan address, not to credit cards, mortgages, home equity loans, etc.
1. You're correct. I mistakenly referred to Elan as their bill pay provider. I think I corrected that in a post down thread.

2. yes.

3. Penfed cashed the check again after the due date. They're getting it but not cashing it in a timely manner. Either USPS is taking more than 2 weeks to driver payment or penfed is holding the check and cashing it late. Therefore I will now transfer money to pay the bill instead of bill pay. It's an extra step but tired of seeing the payment as outstanding 2 weeks after being scheduled for delivery and penfed not getting or processing it making me believe it's late.
Topic Author
jeremyl
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Re: Fidelity CMA bill pay not working

Post by jeremyl »

gpburdell wrote: Sun Mar 13, 2022 2:35 am
UpperNwGuy wrote: Sat Mar 12, 2022 8:32 pm Why do people even use "bill pay" services? I just pay bills with a "pull" from the websites of the billing merchants.
I let nothing pull automatically from any my accounts, that's why.
Same. I just prefer to control it myself as well.
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TomatoTomahto
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Re: Fidelity CMA bill pay not working

Post by TomatoTomahto »

anon_investor wrote: Sat Mar 12, 2022 9:47 pm
TomatoTomahto wrote: Sat Mar 12, 2022 8:19 pm
whodidntante wrote: Sat Mar 12, 2022 5:49 pm
TomatoTomahto wrote: Wed Mar 09, 2022 7:17 am Similar but not same issue. Fidelity’s CMA put a hold on deposited funds (from BoA!) for so long that I bounced a purchase. I just went back to using my bank.
The hold times are weirdly long for ACH pulls and for remote check deposits. My account is well seasoned, and I've had huge amounts and small amounts of money with Fidelity. Nothing made a difference.

Pro-tip: brokerage account holds are shorter up to 2k.
Second pro-tip: you can back the CMA with margin in your brokerage account.
Fidelity is where my wife’s RSUs are held, 401k, previous employer’s 401k, some taxable accounts, etc.

We have a special rep there. He apologized and explained that the bank that Fidelity uses has its own protocols and there wasn’t much he could do. I told him that I understood, that I hadn’t bounced a payment since college and I was receiving Social Security now, and that I could assure him it wouldn’t happen again.
Is the conclusion that a Fidelity CMA is NOT quite as reliable as an actual bank account?
My conclusion is that it’s as reliable as a bank (UMB) that you don’t have a relationship with, that doesn’t take into account your history with them, your assets, etc. They’re like a check cashing joint in a strip mall.
I get the FI part but not the RE part of FIRE.
rkhusky
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Re: Fidelity CMA bill pay not working

Post by rkhusky »

jeremyl wrote: Fri Mar 11, 2022 9:59 pm Afterwards I called Penfed and the lady told me it can take a couple oof weeks to receive mailed checked due to USPS. I can believe that might be a potential scenario but I sent
Why is a paper check being sent to PenFed? They can handle electronic payments. I avoid sending paper checks via billpay, except to people I know (and have been switching to Zelle for some of those).
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anon_investor
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Re: Fidelity CMA bill pay not working

Post by anon_investor »

TomatoTomahto wrote: Sun Mar 13, 2022 7:21 am
anon_investor wrote: Sat Mar 12, 2022 9:47 pm
TomatoTomahto wrote: Sat Mar 12, 2022 8:19 pm
whodidntante wrote: Sat Mar 12, 2022 5:49 pm
TomatoTomahto wrote: Wed Mar 09, 2022 7:17 am Similar but not same issue. Fidelity’s CMA put a hold on deposited funds (from BoA!) for so long that I bounced a purchase. I just went back to using my bank.
The hold times are weirdly long for ACH pulls and for remote check deposits. My account is well seasoned, and I've had huge amounts and small amounts of money with Fidelity. Nothing made a difference.

Pro-tip: brokerage account holds are shorter up to 2k.
Second pro-tip: you can back the CMA with margin in your brokerage account.
Fidelity is where my wife’s RSUs are held, 401k, previous employer’s 401k, some taxable accounts, etc.

We have a special rep there. He apologized and explained that the bank that Fidelity uses has its own protocols and there wasn’t much he could do. I told him that I understood, that I hadn’t bounced a payment since college and I was receiving Social Security now, and that I could assure him it wouldn’t happen again.
Is the conclusion that a Fidelity CMA is NOT quite as reliable as an actual bank account?
My conclusion is that it’s as reliable as a bank (UMB) that you don’t have a relationship with, that doesn’t take into account your history with them, your assets, etc. They’re like a check cashing joint in a strip mall.
That is not reassuring...
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jeremyl
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Location: Indiana

Re: Fidelity CMA bill pay not working

Post by jeremyl »

rkhusky wrote: Sun Mar 13, 2022 7:35 am
jeremyl wrote: Fri Mar 11, 2022 9:59 pm Afterwards I called Penfed and the lady told me it can take a couple oof weeks to receive mailed checked due to USPS. I can believe that might be a potential scenario but I sent
Why is a paper check being sent to PenFed? They can handle electronic payments. I avoid sending paper checks via billpay, except to people I know (and have been switching to Zelle for some of those).
I don't know. That's what the fidelity csr told me there other day when I called to investigate the issue with payments taking weeks to post. He told me there paper check was sent out.

I don't like paper checks either but penfed and my local sewer utility bill have paper checks sent. I have to call my sewer utility company on Monday because I sent payment on 3/1 (fidelity bill pay says to arrive on 3/7) and it's still showing as outstanding. Due date is 3/15.
Marseille07
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Re: Fidelity CMA bill pay not working

Post by Marseille07 »

ectospheno wrote: Sat Mar 12, 2022 9:22 pm
UpperNwGuy wrote: Sat Mar 12, 2022 8:32 pm Why do people even use "bill pay" services? I just pay bills with a "pull" from the websites of the billing merchants.
I would rather login to one site than a dozen.
How do you review your CC statements? I skim through my statement before paying, and since I'm already logged into my CC account anyway, it doesn't cause extra logins.
US & FM (5% seed) | 100K EF
criticalmass
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Re: Fidelity CMA bill pay not working

Post by criticalmass »

jeremyl wrote: Sun Mar 13, 2022 6:22 am
criticalmass wrote: Sat Mar 12, 2022 10:04 pm
jeremyl wrote: Wed Mar 09, 2022 6:47 am Fidelity's bill pay through Elan financial bank is having issues paying 2 of my payees. One is penfed for an auto loan (which has happened multiple times now) and now a new utility bill. I have done their bill pay inquiry firm on each payee and it states I can expect a reply within 10 days. I have not received a reply for multiple inquiries on my auto loan payee and nothing back on my utility inquiry.

I've used the fidelity CMA for a couple of years and never had issues with bill pay until now. When I called Elan bank, they can't tell me why this is am issue either.

Anyone else experience similar issues with their bill pay through fidelity CMA?

I'm about to change to a traditional bank as a result. Thought I'd see if anyone else has had this same issue and fix for it.
1.) What does Elan, a subsidiary of US Bank have to do with the Fidelity cash management account or Bill Pay? I'm confused here. US Bank operates a co-branded credit card, unrelated to the cash account.


2.) Fidelity CMA checking account is run by UMB.

3.) Fidelity's Bill Pay provider is FiServ's Checkfree, the same provider that most banks (including BoA) use. Checkfree decides how the payment is sent. If the payee has a Checkfree merchant account setup, they can receive payments up to $2,500 via ACH. Pentagon Federal Credit Union can be a bit disorganized. Ensure your payment is going to the auto loan address, not to credit cards, mortgages, home equity loans, etc.
1. You're correct. I mistakenly referred to Elan as their bill pay provider. I think I corrected that in a post down thread.

2. yes.

3. Penfed cashed the check again after the due date. They're getting it but not cashing it in a timely manner. Either USPS is taking more than 2 weeks to driver payment or penfed is holding the check and cashing it late. Therefore I will now transfer money to pay the bill instead of bill pay. It's an extra step but tired of seeing the payment as outstanding 2 weeks after being scheduled for delivery and penfed not getting or processing it making me believe it's late.
How did you enter PenFed into Fidelity's CheckFree bill pay account as a payee? Try experimenting with formatting the address and then check the date of the next available payment. If the payee entered can accept online payments, the first available date will be the next business day after the next cut off time (CheckFree Cut off times are typically 10:00 PM M-F). Note if you enter an amount over $2500, it will likely send via paper check.
Topic Author
jeremyl
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Joined: Sat Dec 20, 2014 8:38 am
Location: Indiana

Re: Fidelity CMA bill pay not working

Post by jeremyl »

criticalmass wrote: Sun Mar 13, 2022 5:51 pm
jeremyl wrote: Sun Mar 13, 2022 6:22 am
criticalmass wrote: Sat Mar 12, 2022 10:04 pm
jeremyl wrote: Wed Mar 09, 2022 6:47 am Fidelity's bill pay through Elan financial bank is having issues paying 2 of my payees. One is penfed for an auto loan (which has happened multiple times now) and now a new utility bill. I have done their bill pay inquiry firm on each payee and it states I can expect a reply within 10 days. I have not received a reply for multiple inquiries on my auto loan payee and nothing back on my utility inquiry.

I've used the fidelity CMA for a couple of years and never had issues with bill pay until now. When I called Elan bank, they can't tell me why this is am issue either.

Anyone else experience similar issues with their bill pay through fidelity CMA?

I'm about to change to a traditional bank as a result. Thought I'd see if anyone else has had this same issue and fix for it.
1.) What does Elan, a subsidiary of US Bank have to do with the Fidelity cash management account or Bill Pay? I'm confused here. US Bank operates a co-branded credit card, unrelated to the cash account.


2.) Fidelity CMA checking account is run by UMB.

3.) Fidelity's Bill Pay provider is FiServ's Checkfree, the same provider that most banks (including BoA) use. Checkfree decides how the payment is sent. If the payee has a Checkfree merchant account setup, they can receive payments up to $2,500 via ACH. Pentagon Federal Credit Union can be a bit disorganized. Ensure your payment is going to the auto loan address, not to credit cards, mortgages, home equity loans, etc.
1. You're correct. I mistakenly referred to Elan as their bill pay provider. I think I corrected that in a post down thread.

2. yes.

3. Penfed cashed the check again after the due date. They're getting it but not cashing it in a timely manner. Either USPS is taking more than 2 weeks to driver payment or penfed is holding the check and cashing it late. Therefore I will now transfer money to pay the bill instead of bill pay. It's an extra step but tired of seeing the payment as outstanding 2 weeks after being scheduled for delivery and penfed not getting or processing it making me believe it's late.
How did you enter PenFed into Fidelity's CheckFree bill pay account as a payee? Try experimenting with formatting the address and then check the date of the next available payment. If the payee entered can accept online payments, the first available date will be the next business day after the next cut off time (CheckFree Cut off times are typically 10:00 PM M-F). Note if you enter an amount over $2500, it will likely send via paper check.
Almost certain that I entered the payee info straight from the loan docs.

I'll take a closer look. I'll probably just transfer the money over through the penfed site. I was just trying to avoid logging into 2 accounts when I pay bills.
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8foot7
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Re: Fidelity CMA bill pay not working

Post by 8foot7 »

Checkfree has (or used to have, anyway) an obnoxious tendency to use paper checks for electronic billers for no apparent reason. You'd enter a payee, confirm it was an electronic payee, even pay a few times with next-day or same-day payment confirmation, and then out of nowhere Checkfree one month would send a check -- but of course your check would be late because you thought you were scheduling funds to be delivered on a due date, not mailed to spend a week in transit. I remember asking why this was and their answer was some generic nonsense about what their algorithm says is the most secure way to send the funds given a bunch of variables.

This hasn't happened to me in several years, so I can't say it's still a thing, but it was very frustrating when it happened. It was essentially a lie, as the scheduling interface said "Funds Delivered by X/X" and then they'd mail a check, not deliver the funds. Argh.
rkhusky
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Re: Fidelity CMA bill pay not working

Post by rkhusky »

My bank requires you to enter the bill pay request a week in advance if it plans to issue a paper check. 1-2 days for electronic payment.
criticalmass
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Re: Fidelity CMA bill pay not working

Post by criticalmass »

jeremyl wrote: Sun Mar 13, 2022 6:56 pm
criticalmass wrote: Sun Mar 13, 2022 5:51 pm
jeremyl wrote: Sun Mar 13, 2022 6:22 am
criticalmass wrote: Sat Mar 12, 2022 10:04 pm
jeremyl wrote: Wed Mar 09, 2022 6:47 am Fidelity's bill pay through Elan financial bank is having issues paying 2 of my payees. One is penfed for an auto loan (which has happened multiple times now) and now a new utility bill. I have done their bill pay inquiry firm on each payee and it states I can expect a reply within 10 days. I have not received a reply for multiple inquiries on my auto loan payee and nothing back on my utility inquiry.

I've used the fidelity CMA for a couple of years and never had issues with bill pay until now. When I called Elan bank, they can't tell me why this is am issue either.

Anyone else experience similar issues with their bill pay through fidelity CMA?

I'm about to change to a traditional bank as a result. Thought I'd see if anyone else has had this same issue and fix for it.
1.) What does Elan, a subsidiary of US Bank have to do with the Fidelity cash management account or Bill Pay? I'm confused here. US Bank operates a co-branded credit card, unrelated to the cash account.


2.) Fidelity CMA checking account is run by UMB.

3.) Fidelity's Bill Pay provider is FiServ's Checkfree, the same provider that most banks (including BoA) use. Checkfree decides how the payment is sent. If the payee has a Checkfree merchant account setup, they can receive payments up to $2,500 via ACH. Pentagon Federal Credit Union can be a bit disorganized. Ensure your payment is going to the auto loan address, not to credit cards, mortgages, home equity loans, etc.
1. You're correct. I mistakenly referred to Elan as their bill pay provider. I think I corrected that in a post down thread.

2. yes.

3. Penfed cashed the check again after the due date. They're getting it but not cashing it in a timely manner. Either USPS is taking more than 2 weeks to driver payment or penfed is holding the check and cashing it late. Therefore I will now transfer money to pay the bill instead of bill pay. It's an extra step but tired of seeing the payment as outstanding 2 weeks after being scheduled for delivery and penfed not getting or processing it making me believe it's late.
How did you enter PenFed into Fidelity's CheckFree bill pay account as a payee? Try experimenting with formatting the address and then check the date of the next available payment. If the payee entered can accept online payments, the first available date will be the next business day after the next cut off time (CheckFree Cut off times are typically 10:00 PM M-F). Note if you enter an amount over $2500, it will likely send via paper check.
Almost certain that I entered the payee info straight from the loan docs.

I'll take a closer look. I'll probably just transfer the money over through the penfed site. I was just trying to avoid logging into 2 accounts when I pay bills.
Try re-entering a new payee. Click on the [Add a Company] button instead [Add a person or business]. In the search box, type Penfed, then select PenFed Loans. Enter the zip code from your bill, account number, etc. Then try to schedule a payment for $1. Is the first date available the first business day after the next cut off time (e.g. if you enter on Sunday, it should show as Tuesday). If so, then the payment will be sent electronically. If it is a week or so away, it will be sent via paper. If your amount is over $2500, try reducing it to $2500. You can make multiple payments, but they cannot be for the same amount on the same day.
Topic Author
jeremyl
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Re: Fidelity CMA bill pay not working

Post by jeremyl »

criticalmass wrote: Sun Mar 13, 2022 9:00 pm
jeremyl wrote: Sun Mar 13, 2022 6:56 pm
criticalmass wrote: Sun Mar 13, 2022 5:51 pm
jeremyl wrote: Sun Mar 13, 2022 6:22 am
criticalmass wrote: Sat Mar 12, 2022 10:04 pm
1.) What does Elan, a subsidiary of US Bank have to do with the Fidelity cash management account or Bill Pay? I'm confused here. US Bank operates a co-branded credit card, unrelated to the cash account.


2.) Fidelity CMA checking account is run by UMB.

3.) Fidelity's Bill Pay provider is FiServ's Checkfree, the same provider that most banks (including BoA) use. Checkfree decides how the payment is sent. If the payee has a Checkfree merchant account setup, they can receive payments up to $2,500 via ACH. Pentagon Federal Credit Union can be a bit disorganized. Ensure your payment is going to the auto loan address, not to credit cards, mortgages, home equity loans, etc.
1. You're correct. I mistakenly referred to Elan as their bill pay provider. I think I corrected that in a post down thread.

2. yes.

3. Penfed cashed the check again after the due date. They're getting it but not cashing it in a timely manner. Either USPS is taking more than 2 weeks to driver payment or penfed is holding the check and cashing it late. Therefore I will now transfer money to pay the bill instead of bill pay. It's an extra step but tired of seeing the payment as outstanding 2 weeks after being scheduled for delivery and penfed not getting or processing it making me believe it's late.
How did you enter PenFed into Fidelity's CheckFree bill pay account as a payee? Try experimenting with formatting the address and then check the date of the next available payment. If the payee entered can accept online payments, the first available date will be the next business day after the next cut off time (CheckFree Cut off times are typically 10:00 PM M-F). Note if you enter an amount over $2500, it will likely send via paper check.
Almost certain that I entered the payee info straight from the loan docs.

I'll take a closer look. I'll probably just transfer the money over through the penfed site. I was just trying to avoid logging into 2 accounts when I pay bills.
Try re-entering a new payee. Click on the [Add a Company] button instead [Add a person or business]. In the search box, type Penfed, then select PenFed Loans. Enter the zip code from your bill, account number, etc. Then try to schedule a payment for $1. Is the first date available the first business day after the next cut off time (e.g. if you enter on Sunday, it should show as Tuesday). If so, then the payment will be sent electronically. If it is a week or so away, it will be sent via paper. If your amount is over $2500, try reducing it to $2500. You can make multiple payments, but they cannot be for the same amount on the same day.
I did re-enter the information. I'll double check it using the steps you mentioned and see what it tells me off I try to make a payment. Both times I entered the information and paid the bill, it said it will take 10 days to deliver. I'll look at it more closely with your info you suggested.

Thanks!
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whodidntante
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Re: Fidelity CMA bill pay not working

Post by whodidntante »

TomatoTomahto wrote: Sat Mar 12, 2022 8:19 pm
whodidntante wrote: Sat Mar 12, 2022 5:49 pm
TomatoTomahto wrote: Wed Mar 09, 2022 7:17 am Similar but not same issue. Fidelity’s CMA put a hold on deposited funds (from BoA!) for so long that I bounced a purchase. I just went back to using my bank.
The hold times are weirdly long for ACH pulls and for remote check deposits. My account is well seasoned, and I've had huge amounts and small amounts of money with Fidelity. Nothing made a difference.

Pro-tip: brokerage account holds are shorter up to 2k.
Second pro-tip: you can back the CMA with margin in your brokerage account.
Fidelity is where my wife’s RSUs are held, 401k, previous employer’s 401k, some taxable accounts, etc.

We have a special rep there. He apologized and explained that the bank that Fidelity uses has its own protocols and there wasn’t much he could do. I told him that I understood, that I hadn’t bounced a payment since college and I was receiving Social Security now, and that I could assure him it wouldn’t happen again.
Allow myself to update... myself.

Today a large check was posted in my CMA account. It was for a 60-day rollover. Many thousands of dollars are choppering into the CMA account from a transfer initiated Tuesday, but due to the funds available rules, none are available. So, I overdraft for ~$105. Via self-funded overdraft protection, this creates a margin debit in my brokerage account. Now for the punchline. I transfer $106 to my brokerage account from outside, and everyone's happy. I guess I know how to get reasonable funds availability in a CMA account now. :oops:
spammagnet
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Re: Fidelity CMA bill pay not working

Post by spammagnet »

jeremyl wrote: Sun Mar 13, 2022 6:22 am... 3. Penfed cashed the check again after the due date. They're getting it but not cashing it in a timely manner. Either USPS is taking more than 2 weeks to driver payment or penfed is holding the check and cashing it late. Therefore I will now transfer money to pay the bill instead of bill pay. It's an extra step but tired of seeing the payment as outstanding 2 weeks after being scheduled for delivery and penfed not getting or processing it making me believe it's late.
I haven't read past the message I'm replying to so somebody may have already suggested this:

Assuming it's more likely to be deposited in a timely way, set up an automated deposit to your penfed saving account using Fidelity bill pay. Set up an automatic payment within Penfed from the savings account.

I had to do that for a loan from a local credit union that wouldn't take a payment from an external account. (I'm willing to set up direct drafts.) It worked perfectly.

Make the transfer well before the payment is due to maximize the time for Penfed to complete the deposit. Maybe make the transfer out the day after the payment due date? That gives them a whole month.
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TomatoTomahto
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Re: Fidelity CMA bill pay not working

Post by TomatoTomahto »

OP, there are many banks that do a good job of Bill Payment. There are BHs who don’t care for Bill Pay; that’s fine. You shouldn’t require Pro Tips for something as mundane as bill payment.

I bank elsewhere and I suggest the same for you. As it happens, BoA is not a great bank, but they have not messed up Bill Pay for us in decades of opportunity.
I get the FI part but not the RE part of FIRE.
Topic Author
jeremyl
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Location: Indiana

Re: Fidelity CMA bill pay not working

Post by jeremyl »

TomatoTomahto wrote: Tue Mar 15, 2022 3:41 am OP, there are many banks that do a good job of Bill Payment. There are BHs who don’t care for Bill Pay; that’s fine. You shouldn’t require Pro Tips for something as mundane as bill payment.

I bank elsewhere and I suggest the same for you. As it happens, BoA is not a great bank, but they have not messed up Bill Pay for us in decades of opportunity.
Haha, you're correct. Pro tips are not needed for paying bills for sure. I just had never had an issue like this come up when I used Chase Bank, Schwab bank or fidelity bill pay until now. I was curious if others experienced this and wanted to know how they solved it. And to know if it was a fidelity problem or a payee problem.

I think it's definitely a payee problem in that they aren't processing payments efficiently since they're paper checks. For the 2 payees that aren't processing them fast enough, I'll use the other methods to pay the bills. It's just nice to only have to go to one place to pay bills. Not a problem, just annoying.

I was surprised by the number of responses.
stilllurking
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Re: Fidelity CMA bill pay not working

Post by stilllurking »

Curious to see if anyone has been having issues with Fidelity Bill Pay more recently? I just set up all my bills in Fidelity today but haven't paid any yet. I will test them out over the next several months before I decide if Ally is done.

Second question, I am using SPRXX (MMF) as my holding in this CMA account and chatted with CS who said that I do not need to do any liquidations from that Fidelity will liquidate automatically to cover checks, ATM withdrawal and bill pay. Is this what others are experiencing? SPRXX yield is much higher than Ally so I wanted to earn more on my emergency funds and perhaps cut down on a financial institution.

Today, I use Ally Bill Pay and there is usually $0 in it. I will schedule bill pays and the amount will auto transfer from my Online Savings accounts to my Ally Checking acccount. So I'm thinking the Fidelity CMA will take away the process of transferring money between accounts as well as not needing to worry about the six withdrawals a month (even though Ally is no longer assessing $10 fees for going over six withdrawals).
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anon_investor
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Re: Fidelity CMA bill pay not working

Post by anon_investor »

stilllurking wrote: Wed Nov 23, 2022 8:39 pm Curious to see if anyone has been having issues with Fidelity Bill Pay more recently? I just set up all my bills in Fidelity today but haven't paid any yet. I will test them out over the next several months before I decide if Ally is done.

Second question, I am using SPRXX (MMF) as my holding in this CMA account and chatted with CS who said that I do not need to do any liquidations from that Fidelity will liquidate automatically to cover checks, ATM withdrawal and bill pay. Is this what others are experiencing? SPRXX yield is much higher than Ally so I wanted to earn more on my emergency funds and perhaps cut down on a financial institution.

Today, I use Ally Bill Pay and there is usually $0 in it. I will schedule bill pays and the amount will auto transfer from my Online Savings accounts to my Ally Checking acccount. So I'm thinking the Fidelity CMA will take away the process of transferring money between accounts as well as not needing to worry about the six withdrawals a month (even though Ally is no longer assessing $10 fees for going over six withdrawals).
SPRXX is my only holding in my Fidelity CMA and Fidelity auto liquidates it to satisfy my ACH withdrawals (CC bills initiated via the CC websites).
stilllurking
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Re: Fidelity CMA bill pay not working

Post by stilllurking »

anon_investor wrote: Wed Nov 23, 2022 8:42 pm
stilllurking wrote: Wed Nov 23, 2022 8:39 pm Curious to see if anyone has been having issues with Fidelity Bill Pay more recently? I just set up all my bills in Fidelity today but haven't paid any yet. I will test them out over the next several months before I decide if Ally is done.

Second question, I am using SPRXX (MMF) as my holding in this CMA account and chatted with CS who said that I do not need to do any liquidations from that Fidelity will liquidate automatically to cover checks, ATM withdrawal and bill pay. Is this what others are experiencing? SPRXX yield is much higher than Ally so I wanted to earn more on my emergency funds and perhaps cut down on a financial institution.

Today, I use Ally Bill Pay and there is usually $0 in it. I will schedule bill pays and the amount will auto transfer from my Online Savings accounts to my Ally Checking acccount. So I'm thinking the Fidelity CMA will take away the process of transferring money between accounts as well as not needing to worry about the six withdrawals a month (even though Ally is no longer assessing $10 fees for going over six withdrawals).
SPRXX is my only holding in my Fidelity CMA and Fidelity auto liquidates it to satisfy my ACH withdrawals (CC bills initiated via the CC websites).
Thanks anon. Do you have margin on your CMA? I don't want to add that if not necessary. Does everything just clear over night? Or would I see a -$60 if I were to withdraw money at an ATM until the next day?
nalor511
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Re: Fidelity CMA bill pay not working

Post by nalor511 »

stilllurking wrote: Wed Nov 23, 2022 8:51 pm
anon_investor wrote: Wed Nov 23, 2022 8:42 pm
stilllurking wrote: Wed Nov 23, 2022 8:39 pm Curious to see if anyone has been having issues with Fidelity Bill Pay more recently? I just set up all my bills in Fidelity today but haven't paid any yet. I will test them out over the next several months before I decide if Ally is done.

Second question, I am using SPRXX (MMF) as my holding in this CMA account and chatted with CS who said that I do not need to do any liquidations from that Fidelity will liquidate automatically to cover checks, ATM withdrawal and bill pay. Is this what others are experiencing? SPRXX yield is much higher than Ally so I wanted to earn more on my emergency funds and perhaps cut down on a financial institution.

Today, I use Ally Bill Pay and there is usually $0 in it. I will schedule bill pays and the amount will auto transfer from my Online Savings accounts to my Ally Checking acccount. So I'm thinking the Fidelity CMA will take away the process of transferring money between accounts as well as not needing to worry about the six withdrawals a month (even though Ally is no longer assessing $10 fees for going over six withdrawals).
SPRXX is my only holding in my Fidelity CMA and Fidelity auto liquidates it to satisfy my ACH withdrawals (CC bills initiated via the CC websites).
Thanks anon. Do you have margin on your CMA? I don't want to add that if not necessary. Does everything just clear over night? Or would I see a -$60 if I were to withdraw money at an ATM until the next day?
I do not have margin on my CMA (I think you can only have margin on brokerage but not positive. I do have margin on brokerage). SPRXx gets auto liquidated. Yes you see a pending -60 that gets cleared the next biz day (but your cash available to withdraw goes down immediately)
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anon_investor
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Re: Fidelity CMA bill pay not working

Post by anon_investor »

stilllurking wrote: Wed Nov 23, 2022 8:51 pm
anon_investor wrote: Wed Nov 23, 2022 8:42 pm
stilllurking wrote: Wed Nov 23, 2022 8:39 pm Curious to see if anyone has been having issues with Fidelity Bill Pay more recently? I just set up all my bills in Fidelity today but haven't paid any yet. I will test them out over the next several months before I decide if Ally is done.

Second question, I am using SPRXX (MMF) as my holding in this CMA account and chatted with CS who said that I do not need to do any liquidations from that Fidelity will liquidate automatically to cover checks, ATM withdrawal and bill pay. Is this what others are experiencing? SPRXX yield is much higher than Ally so I wanted to earn more on my emergency funds and perhaps cut down on a financial institution.

Today, I use Ally Bill Pay and there is usually $0 in it. I will schedule bill pays and the amount will auto transfer from my Online Savings accounts to my Ally Checking acccount. So I'm thinking the Fidelity CMA will take away the process of transferring money between accounts as well as not needing to worry about the six withdrawals a month (even though Ally is no longer assessing $10 fees for going over six withdrawals).
SPRXX is my only holding in my Fidelity CMA and Fidelity auto liquidates it to satisfy my ACH withdrawals (CC bills initiated via the CC websites).
Thanks anon. Do you have margin on your CMA? I don't want to add that if not necessary. Does everything just clear over night? Or would I see a -$60 if I were to withdraw money at an ATM until the next day?
I don't have margin, but as long as I have a large enough balance available for withdrawal then I have never had any issues with ACH debits from my SPRXX.
stilllurking
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Re: Fidelity CMA bill pay not working

Post by stilllurking »

Thanks nalor and anon
BoglesBeagle
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Re: Fidelity CMA bill pay not working

Post by BoglesBeagle »

nalor511 wrote: Wed Nov 23, 2022 8:56 pm I do not have margin on my CMA (I think you can only have margin on brokerage but not positive. I do have margin on brokerage).
This is correct, I just checked and neither margin nor options is available to add on the CMA, although it’s otherwise mostly a fully functioning brokerage account (it can hold shares of stocks, non-MM funds, etc, though I don’t really get the sense it is designed to be used in this way).
stilllurking
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Re: Fidelity CMA bill pay not working

Post by stilllurking »

I see that my BoA credit cards can have ebills set up there but Chase cannot. I tried to activate it for my BoA accounts but it says, “We’re sorry, we’re unable to enroll this biller in eBills. Please continue to use your statement when making payments.”

I tried unenrolling at Ally and it still didn’t work. Maybe I need for the system to catch up before enrolling with Fidelity? Is anyone successfully using the eBill function at Fidelity Bill Pay?
HomeStretch
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Re: Fidelity CMA bill pay not working

Post by HomeStretch »

stilllurking wrote: Fri Nov 25, 2022 11:09 am I see that my BoA credit cards can have ebills set up there but Chase cannot. I tried to activate it for my BoA accounts but it says, “We’re sorry, we’re unable to enroll this biller in eBills. Please continue to use your statement when making payments.”

I tried unenrolling at Ally and it still didn’t work. Maybe I need for the system to catch up before enrolling with Fidelity? Is anyone successfully using the eBill function at Fidelity Bill Pay?
About 3 months ago, I transitioned Bill Pay from BoA Checking (which worked great) to a Fidelity CMA. Setting up vendors for e-bill and auto-pay in the Fidelity CMA Bill Pay has been an issue. Despite the Fidelity BP screen saying various utilities and credit card issuers are e-bill eligible, I have only been successful about 25% of the time. For some vendors it looks like the enrollment was successful and to allow 1-2 billing cycles. For others, I get the same message as stilllurking. It’s disappointing.
stilllurking
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Re: Fidelity CMA bill pay not working

Post by stilllurking »

Thanks HomeStretch.

This is concerning as I liked the way Ally would seamlessly set up a pending payment based on my criteria and I only needed to adjust the date if I wanted it to land on a pay date. I guess it's not a deal breaker but would be a nice to have. I have BoA checking but don't typically use them to pay bills since their checking account pays nothing in interest.
nalor511
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Re: Fidelity CMA bill pay not working

Post by nalor511 »

I just put in the Fido account/routing on the CC's interface. Never had an issue
stilllurking
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Re: Fidelity CMA bill pay not working

Post by stilllurking »

nalor511 wrote: Fri Nov 25, 2022 3:54 pm I just put in the Fido account/routing on the CC's interface. Never had an issue
I prefer to push the money from my account rather than share my account details with every credit card account I have.
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