Fighting with myself on the best way to pay. With other cards and most other bills I just get an ebill and have bill pay take care of it. I set the bill pay account to keep about $3k in it and have it pull from another brokerage account the has dividend paying ETFs in it.
The newer Fido credit cards have an auto pay feature that will (based on my limited understanding) just make an ACH grab for the money in the account indicated. While bill pay knows what is set to be paid and can pull some $ from the secondary account when needed, the auto pay has no knowledge about that. I would assume if there were insufficient funds the auto pay would either get too little or refused if not enough funds were sitting in the account when the ACH request came in. And with bill pay not knowing the ACH request was coming, it would not pre-fund for the ACH request as it may for normal bill pays.
Now I may have much of the above wrong. But I did not get much real help from either Fido or Elan. Right now I just set up the Elan CC bill in bill pay manually.
I'm curious how others have set this up? If using auto pay, did you set up a different account or keep extra $ to cover the Fido bill? Or did you use a different account?
some other way to deal with it?
I use to have bill pay directly from a brokerage account. This would have have worked. I normally don't keep much in my cash management account.
The newer Fido credit cards have an auto pay feature that will (based on my limited understanding) just make an ACH grab for the money in the account indicated. While bill pay knows what is set to be paid and can pull some $ from the secondary account when needed, the auto pay has no knowledge about that. I would assume if there were insufficient funds the auto pay would either get too little or refused if not enough funds were sitting in the account when the ACH request came in. And with bill pay not knowing the ACH request was coming, it would not pre-fund for the ACH request as it may for normal bill pays.
Now I may have much of the above wrong. But I did not get much real help from either Fido or Elan. Right now I just set up the Elan CC bill in bill pay manually.
I'm curious how others have set this up? If using auto pay, did you set up a different account or keep extra $ to cover the Fido bill? Or did you use a different account?
some other way to deal with it?
I use to have bill pay directly from a brokerage account. This would have have worked. I normally don't keep much in my cash management account.