We discovered some differences in how Wells Fargo has to set things up and have provided some pictures below to assist.
Note that after you send funds, as an extra security measure, Wells Fargo will send you a verification code you need to put again in their website as the final confirmation before the funds will send. After this you will get the transaction code you need for the website to register your payment.
To change your information, change your password, logout and more please visit here.
Yes, no one is going to stand at the door to turn you away. 🙂 Instead we will ask for your understanding and consideration as to why we feel it is in all of our interests to consider the new option we have now.
That said, part of the question is going to be why change in the first place.
We can offer a few reasons why we believe everyone should try the new system.
- Cost drives a lot of the consideration behind this as there are two big ones to consider. The cost of using credit cards which would be in the thousands annually in monthly and per transaction costs and the cost for a bookkeeper would also be as expensive if not more so.
- Time is not always a luxury many of us can afford and we are finding that very few are very interested if even willing to consider the roles that touch this part of the HOA as there is a rather considerable amount of time and effort involved. Further some tasks like the paper newsletter and more have modern equivalents that are almost free and instant unlike the current options.
- If we could ask of members that they spend a few minutes learning something new and thereby save them from these added costs it was decided that this would be the most appropriate.
Unfortunately there is no “perfect” option to most of life’s challenges, so we have done our best to pick the solution that we felt would best reflect the needs and interests of you our members, neighbors and friends.
We are incredibly lucky to get to be a part of a beautiful area with great friends and neighbors. Like anything of value though we have to maintain and keep things running smoothly.
To do that we have a volunteer board who have stepped forward to help ensure the actual work gets done.
This website is designed to help with a couple of critical tasks
- Reduce the time and cost involved in dues and membership management
- Provide a central point for sharing critical and all other information
We understand that this website will bring with it some changes in how we do things, and especially in this first year we are going to do our best to be flexible.
We want things to be simple, but it is critical to remember that someone has to do the work
Few love change, but this one is part of an effort to keep costs low and reduce the burden on those that volunteer and spend countless hours on tasks like this. Some of the alternatives were to increase dues to cover the cost of a credit card or cost to hire someone to do the work required to handle all of the paperwork.
Asking members to take a few extra minutes to set this up one time seems so far like the most appropriate and certainly most cost effective option.
Some of the benefits of the new system include…
- Security is paramount and NO financial data at all is ever stored on the site. In fact the data is only stored on the same systems and the same standards as your other banking informing INSIDE your bank or an entity owned by them (Zelle).
- Being literally owned and trusted by largest banks in the US including Chase, Citigroup, Wells Fargo, Bank of America and several others was a key factor in the decision process.
- Cost is a big factor with credit cards being very costly to the HOA and other options requiring sensitive information to be used we chose the option were we never see your information, your information is never outside of your bank and you have complete control over when money is sent.
- Easy of use was also important, yes a credit card is just a number, but once you setup the first time repeat efforts will be extremely easy.
One item of note is that with the Zelle system we are using from the big banks it is not fully tied directly into our site for added security and that is why we ask you to enter your bank transaction code so we can verify the payment properly.
- Go direct to your banks website or click here to ensure your account is ready to send money. This will require some security verification steps and if you have questions you may have to check with your bank for details.
- Once you have setup the service with your bank then add/setup email@example.com as a recipient and send you dues of $180 to that address.
- PLEASE NOTE: Ensure in the memo field enter your Name, Lot #, Phone in case there are any questions.
- Once you submit your payment at your bank you will see a bank transaction code, please enter that on the Bucks Lake HOA website payment page here and click proceed.
- Now you can go and vote here.