Payment Question

[Autolycus]

I'm going through my 8 steps and want to make sure I'm prepared for the payment step once I get a delivery appointment. Could be next week, according to my guide.

I don't have all of the funds in a single account, and would prefer to make a split payment with some coming from 2 different accounts. My guide thinks that is doable, but I wanted to see if anybody has done that successfully? If I don't know it's possible, I guess I'll start consolidating the funds into a single account. Gonna be a pit of a pain because my credit union limits incoming ACH to $10k, and I'll need to transfer more than that. Check processing will take several business days as well.

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[Jac]

Wire transfer might be an alternative to avoid the daily ACH transfer limit. Some financial services companies waive wire fees if you have certain investment balances with them.

 

[xandarni]

If I recall correctly, Rivian's payment step gives you the option to split the payment across more than one source.

Perhaps someone who has done it more recently can confirm.

 

[Killer95Stang]

I would just get cashiers checks from the the two financial institutions where you have your funds. Two days before delivery I uploaded a picture of the loan check from my credit union and a cashiers check from my personal bank. I then handed over the physical checks on the day of delivery. I don't see why you can't give them two cashiers checks from your separate accounts. The Key is the uploading of the checks, so they can verify funds before you take delivery.

 

[Oldsmobile_Mike]

When I did mine in March there was the option to use some kind of online money transfer service, the name of which escapes me at the moment. I had to link my bank account to them and they only supported certain banks. They were unable to do Synchrony (where I was keeping my high yield savings) so I had to transfer the funds to Bank of America, which they were able to link without a hitch. Good luck!

 

[Durian]

If you use a check make sure they accept that at delivery in your state. In Oregon Rivian would not accept the check at delivery and it had to be received in Palo Alto before the delivery was approved. I wish I had used a wire transfer myself as this was a hassle.

 

[txtravwill]

You can kinda start the step to see them jump out. They use Plaid when you connect to your bank and it can see your account balances, thus that's why they consider it a valid payment. The first question it ask before that is if you want to split your payment, saying you can split into 2 payments I think.

Also if your bank isn't supported by Plaid, may need to enter ACH routing and account numbers and they may not consider it paid for until that clears in a few days.

 

[Autolycus]

If I recall correctly, Rivian's payment step gives you the option to split the payment across more than one source.

Perhaps someone who has done it more recently can confirm.

Perfect, that's what I was hoping to hear.

When I did mine in March there was the option to use some kind of online money transfer service, the name of which escapes me at the moment. I had to link my bank account to them and they only supported certain banks. They were unable to do Synchrony (where I was keeping my high yield savings) so I had to transfer the funds to Bank of America, which they were able to link without a hitch. Good luck!

You can kinda start the step to see them jump out. They use Plaid when you connect to your bank and it can see your account balances, thus that's why they consider it a valid payment. The first question it ask before that is if you want to split your payment, saying you can split into 2 payments I think.

Also if your bank isn't supported by Plaid, may need to enter ACH routing and account numbers and they may not consider it paid for until that clears in a few days.

Hmm... ok. Both our accounts are with credit unions that tend to be a little more closed off than the huge huge ones, so I'll bet Plaid won't support them automatically.

Getting cashier's checks is a pain since neither of our credit unions have local branches at this point, and one of them's shared branch system isn't great. I was really hoping to use ACH. Wire will probably be the best fall-back option if we can't use ACH.

Thanks for the feedback everyone!

 

[Sevn86]

If you use a check make sure they accept that at delivery in your state. In Oregon Rivian would not accept the check at delivery and it had to be received in Palo Alto before the delivery was approved. I wish I had used a wire transfer myself as this was a hassle.

This! I was told any checks needed to go to California office prior to pick up since Rivian doesn’t have a license to sell in the state of Texas per my guide.

 

[Christopher]

I split payment. When paying online it had me SSO into Chase, choose my accounts and make payments. Not sure if it was possible for two different institutions though.

 

[tchen811]

Has anyone run into this issue? Today I used Plaid to link my Chase checking. I’m pretty sure I picked one payment vs. split. But when I got to the end, it showed me making TWO ACH payments… each is the price of my S!!! I checked with my guid and he has never seen it happen before… he suggest I reach out to my bank, but they can’t do anything until they see the ACH come through….

 

[Smeek]

Has anyone run into this issue? Today I used Plaid to link my Chase checking. I’m pretty sure I picked one payment vs. split. But when I got to the end, it showed me making TWO ACH payments… each is the price of my S!!! I checked with my guid and he has never seen it happen before… he suggest I reach out to my bank, but they can’t do anything until they see the ACH come through….

Wondering if you resolved this?

I had something happen with Plaid that i'm confused about. Paid with BofA account yesterday, about half. then today did another payment for the balance from a Chase account. But looking at the summary of the purchase, it looks like both payments were ACH from my BofA account. I'm hoping it just LOOKS that way. but no way to know until tomorrow...

Did they store my BofA account and accidentally use that one instead? i thought the purpose of Plaid was for a single transfer. I didn't think it was 'stored' in my Rivian account (like, i didn't think this kind of thing should be possible). We went through all the steps to link the Chase account and everything.

 

[tchen811]

Wondering if you resolved this?

I had something happen with Plaid that i'm confused about. Paid with BofA account yesterday, about half. then today did another payment for the balance from a Chase account. But looking at the summary of the purchase, it looks like both payments were ACH from my BofA account. I'm hoping it just LOOKS that way. but no way to know until tomorrow...

Did they store my BofA account and accidentally use that one instead? i thought the purpose of Plaid was for a single transfer. I didn't think it was 'stored' in my Rivian account (like, i didn't think this kind of thing should be possible). We went through all the steps to link the Chase account and everything.

They ended up cancelling the transfer… I decided to do a cashier check instead.

 

[mmcool]

They ended up cancelling the transfer… I decided to do a cashier check instead.

I am in a similar situation. Would they cancel the transfer now or they do it post delivery?

 

[tchen811]

They cancelled it before delivery

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