4 ms·

Funny comment about First Republic and Chase. I too have/had a mortgage at FR and I now see it in my existing Chase account (maybe the balance is even correct,

Funny comment about First Republic and Chase. I too have/had a mortgage at FR and I now see it in my existing Chase account (maybe the balance is even correct, pretty hard for me to know), but I have no idea whether they are going to still take the payment out of my FR checking account, despite their official transition page saying "all automatic payments will be transferred as well." I guess I can't take the money out of my FR account until I know.

numlocked 3y ago
Too funny. I am in the exact same boat. For what it's worth I spoke to their customer service (Chase) yesterday who indicated that the auto-payment would continue to work as it always had, but will process "10 days late". So I'm expecting it to come out of my FRB account on the 10th or the 13th. I was also caught totally off-guard when I logged into FRB and it informed me my mortgage had been closed. If I didn't have a Chase credit card (and saw my mortgage there when I went to pay the credit card) I'd probably still be baffled.
- creeble 3y ago
  I think I also saw that only this _first_ auto-payment will work -- after that you have to set it up at Chase if you want to continue auto-payment. One thing I found out about mortgage auto-payments at FRB was that they wouldn't take the money out unless there was enough in the account within the first 6 days of the month. They would automatically check every day, and if the balance was high enough, they would take it out. On the 7th day I guess they would send you an overdue notice (and maybe keep checking? no idea). They could only do this because they owned both accounts. Edit: Okay, TMI but this is just so... interactive right now. I looked up the transfer balance in my FRB account, and the account balance at Chase was $6k higher. So I called Chase Mortgage. The wait was only about 3m (after the touch-tone gauntlet), and I talked to a very nice dude who welcomed me to Chase... and then promptly told me he'd have to transfer me because I am a "Premium Customer" coming from FRB. I've been on hold the last 15m. Premium I guess means "wait more".

numlocked 3y ago

Too funny. I am in the exact same boat. For what it's worth I spoke to their customer service (Chase) yesterday who indicated that the auto-payment would continue to work as it always had, but will process "10 days late". So I'm expecting it to come out of my FRB account on the 10th or the 13th. I was also caught totally off-guard when I logged into FRB and it informed me my mortgage had been closed. If I didn't have a Chase credit card (and saw my mortgage there when I went to pay the credit card) I'd probably still be baffled.

creeble 3y ago
I think I also saw that only this _first_ auto-payment will work -- after that you have to set it up at Chase if you want to continue auto-payment. One thing I found out about mortgage auto-payments at FRB was that they wouldn't take the money out unless there was enough in the account within the first 6 days of the month. They would automatically check every day, and if the balance was high enough, they would take it out. On the 7th day I guess they would send you an overdue notice (and maybe keep checking? no idea). They could only do this because they owned both accounts. Edit: Okay, TMI but this is just so... interactive right now. I looked up the transfer balance in my FRB account, and the account balance at Chase was $6k higher. So I called Chase Mortgage. The wait was only about 3m (after the touch-tone gauntlet), and I talked to a very nice dude who welcomed me to Chase... and then promptly told me he'd have to transfer me because I am a "Premium Customer" coming from FRB. I've been on hold the last 15m. Premium I guess means "wait more".