Buyback Check or Electronic Bank Transfer

tonymtdew · Dec 18, 2016

How long until I will get my EFT email? I turned my car in Yesterday around 11:00am (26hours now). Still waiting for my EFT email and killing my phones battery checking every 3 minutes for it.

k1xv · Dec 18, 2016

Doubt you will get anything on the weekend. I turned in my car on Saturday Dec 3 and got the e-mail from Chase at 8:46pm the following Monday. Applied for the payment immediately, and it was in my checking account Tuesday morning.

visortgw · Dec 18, 2016

tonymtdew said:
How long until I will get my EFT email? I turned my car in Yesterday around 11:00am (26hours now). Still waiting for my EFT email and killing my phones battery checking every 3 minutes for it.

I completed my lease termination appointment at 10:00 EST yesterday (Saturday), and I have received no communication from Chase. Like k1xv suggests, I don't expect anything before tomorrow, the first business day following the transfer -- most likely it will be late in the day as they will be processing transactions from both Friday and Saturday.

nucklehead · Dec 18, 2016

tonymtdew said:
How long until I will get my EFT email? I turned my car in Yesterday around 11:00am (26hours now). Still waiting for my EFT email and killing my phones battery checking every 3 minutes for it.

I'd sign into the claims portal and see if it requests your bank info. Email is highly reliable but screw-ups do occur on occasion.

DanB36 · Dec 18, 2016

nucklehead said:
I'd sign into the claims portal and see if it requests your bank info.

The claims portal doesn't ask for bank info in any event. For the car I took back on Thursday, I got the payment email Friday night about 8:30. For the car I took back yesterday, I haven't gotten the email yet, but expect it tomorrow night--the pattern seems to be the evening of the next business day.

mrp · Dec 18, 2016

Chase EFT problem--HELP!

i hit the "Accept Money" button in the Chase email and it only took me to a generic login page. Could not figure out how to register an account so i could initiate the EFT. the email didn't have any ID or password to log in with. Any ideas? thanks

DanB36 · Dec 18, 2016

The email has a phone number for Chase; seems that calling that number would be a better way to proceed than asking here.

BuzzinNH · Dec 19, 2016

The email to accept funds comes from Chase and the subject is Chase Payments. Mine had no mention of VW until I opened the email.

The email stating final offer came seconds after I signed the forms and the person entering the info plugged it into the computer.

Turned in my car Friday the 16th at 11am, email to enter bank info came same day at 8pm, entered bank info 7am Sat the 17th. Money hit my account before 6am the 19th.

mrp · Dec 19, 2016

mrp said:
i hit the "Accept Money" button in the Chase email and it only took me to a generic login page. Could not figure out how to register an account so i could initiate the EFT. the email didn't have any ID or password to log in with. Any ideas? thanks

never mind---i just bought kaspersky total security and didn't know how aggressive it is. i had to turn a lot of it off in order to get the Chase registration fields to come up. easy after that.

Fixmy59bug · Dec 19, 2016

I turned in my car on Friday 12/16 at 10:30am

I received my email from Chase at about 6:00pm.

And I received my payment this morning once my credit union opened. I am sure if my credit union were opened on saturday I would have had the payment then, but no way to be sure.

apaterso · Dec 19, 2016

Rob LaFreniere said:
I opted for payment by check. It was given to me at the conclusion of my buy-back appointment.

Select Check

With a sad heart my TDI is gone. Turn it in Saturday December 17th. Process took no more that 30 minutes. I left with what I expected to leave with $11,800. I still had time to go to the bank and deposit it.

So long and thanks for all the fish.

k1xv · Dec 19, 2016

mrp said:
never mind---i just bought kaspersky total security and didn't know how aggressive it is. i had to turn a lot of it off in order to get the Chase registration fields to come up. easy after that.

When your "total security" is so secure that it blocks others from sending you money, maybe that's a little 'too secure".

I had that program on a computer that I turned on maybe once every 10 days. My entire computer session was spent updating Kaspersky files.

TDINJ · Dec 19, 2016

I selected EFT, my buyback appointment is this Thursday, December 29th at 530pm.

In terms of the final amount being within the "window", as someone mentioned, does that mean the mileage you entered when asked "what is your mileage today?" when I selected my appointment after my paperwork was accepted?

I now have 93,522 miles on my Passat. that's between the 90,001-95,000 mile bracket. Hoping there's no hiccup. I have a deposit on a CPO 2014 BMW 328d!

tonymtdew · Dec 19, 2016

visortgw said:
I completed my lease termination appointment at 10:00 EST yesterday (Saturday), and I have received no communication from Chase. Like k1xv suggests, I don't expect anything before tomorrow, the first business day following the transfer -- most likely it will be late in the day as they will be processing transactions from both Friday and Saturday.

Thanks- Saturday around noon was my turn in. As of 8:20pm Monday- no email :-(

k1xv · Dec 19, 2016

I predict that e-mail will arrive by 9:30 PM

DanB36 · Dec 19, 2016

I returned mine Saturday morning at 10:30, got my payment email at 8:27 pm this evening.

tonymtdew · Dec 19, 2016

k1xv said:
I predict that e-mail will arrive by 9:30 PM

I guess this is all that I needed to do - was to *****. Just got the email!

visortgw · Dec 19, 2016

DanB36 said:
I returned mine Saturday morning at 10:30, got my payment email at 8:27 pm this evening.

They must batch them -- my lease termination appointment was as 9:30 Saturday morning, and my e-mail to initiate the EFT process came at 8:27 this evening, too. At 8:36, I received a confirmation e-mail after entering bank details including the following:

"If you have transferred to a Chase account before 8pm ET, the funds will be deposited into your account at the start of the next business day. For non-Chase accounts, it may take up to 2-3 business days. Any acceptance after 8pm ET will require an extra business day of processing."

COmk6tdi · Dec 19, 2016

visortgw said:
They must batch them -- my lease termination appointment was as 9:30 Saturday morning, and my e-mail to initiate the EFT process came at 8:27 this evening, too. At 8:36, I received a confirmation e-mail after entering bank details including the following:

"If you have transferred to a Chase account before 8pm ET, the funds will be deposited into your account at the start of the next business day. For non-Chase accounts, it may take up to 2-3 business days. Any acceptance after 8pm ET will require an extra business day of processing."

My appointment was Saturday at 10:30 Mountain time. Got email tonight at 8:27 from Chase. I think they purposely wait until after Chases cut off so we have to wait an extra day.

verdeo · Dec 19, 2016

COmk6tdi said:
My appointment was Saturday at 10:30 Mountain time. Got email tonight at 8:27 from Chase. I think they purposely wait until after Chases cut off so we have to wait an extra day.

Get a life! My transaction was Saturday at 1:30 and I got my email from Chase the same time you did.
I think that is pretty spectacular! I will be so happy to see all of these doomsday people off Fred's TDI.

passatmeister · Dec 19, 2016

how do they pay my loan off. Do I get two transfers one to the bank paying the loan the other for my restitution payment. Or do I get the full amount and I pay the loan ?

DanB36 · Dec 19, 2016

COmk6tdi said:
I think they purposely wait until after Chases cut off so we have to wait an extra day.

Yep, I'm sure they do. That's why my money from my last buyback was in my account by 0600 the next business day (buyback at 1700 on 15 Dec, got email from Chase at 2027 on 16 Dec, money was there by 0600 today).

DanB36 · Dec 19, 2016

passatmeister said:
how do they pay my loan off.

They directly pay your lender the amount they think you owe. Unknown whether that's via an electronic payment or a check, or it may vary depending on the lender.

tonymtdew · Dec 19, 2016

DanB36 said:
They directly pay your lender the amount they think you owe. Unknown whether that's via an electronic payment or a check, or it may vary depending on the lender.

And any overpayment is then sent to you as a check.

DanB36 · Dec 19, 2016

tonymtdew said:
And any overpayment is then sent to you as a check.

Presumably, though that would be up to your lender. I wouldn't be too surprised if my overpayment (and there will be one) is just automatically deposited in my bank account.

PacCoastFwy923 · Dec 19, 2016

tonymtdew said:
And any overpayment is then sent to you as a check.

Any overpayment to mine just rolls over into my credit union checking account. I suppose anybody with VW credit gets the paper check.

DanB36 · Dec 20, 2016

DanB36 said:
Yep, I'm sure they do. That's why my money from my last buyback was in my account by 0600 the next business day (buyback at 1700 on 15 Dec, got email from Chase at 2027 on 16 Dec, money was there by 0600 today).

...and the money from my second buyback (the one that I received the email about last night) was in my (non-Chase) account by 0500 today.

tjdeerslayer37 · Dec 20, 2016

DanB36 said:
...and the money from my second buyback (the one that I received the email about last night) was in my (non-Chase) account by 0500 today.

Me too. Email last night, money this am, new truck this pm

visortgw · Dec 20, 2016

DanB36 said:
...and the money from my second buyback (the one that I received the email about last night) was in my (non-Chase) account by 0500 today.

Nothing as of this morning in my CU account. Another inconsistency, but I'm sure that it has to do with bank routing of funds.

k1xv · Dec 20, 2016

Not every credit union has a direct participation in the ACH network. So, in such instances, it could add a little time.

Buyback Check or Electronic Bank Transfer

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