Bill Pay??
- Thread starter David
- Start date
avid toker
Regulator
Few years here as well. I love it and saves me from licking stamps. I can pay bills on the road, etc. And it's totally free for me!
I do not pay bills automatically and I don't receive e-bills either. This way I still feel like I have control over the payment aspect.
I do not pay bills automatically and I don't receive e-bills either. This way I still feel like I have control over the payment aspect.
cvm4
BoM - July '05 & Dec. '10
Yea something just isn't right about having auto-billpay. I've heard too many horror stories about how so&so got charged twice for a car payment, etc. I mean that's 1 less payment to make but some can't afford to do that twice in a month. I'm sure it happens with other stuff too.
Agreed on the auto-pay deduction. We do that for all our clients and every once and a while our ACH bank screws up, (like today). Hit 12 of my clients for three payments. I would never set up an auto debit or ACH. The bill pay system is great. You set up and authorize what bills get paid each month. Better control and few problems. BTY - be sure and hit the bank for a reduction in fees or rate on a loan if you use this system.cvm4 said:
DAMN I am loving this billpay setup going on 4 months now! I write only a couple checks per month and pay more than a dozen other things via billpay. My life is much more manageable now when it comes to paying the bills.
Funny thing tho, I am a VERY anal person, really organized type A person when it comes to bills. I used to write all my bills ahead of time, stamp them, return addy them, write on the back of the envelope exactly what day to mail them so I never missed a payment. I do not have to do this anymore. Kinda taken a job for me and given to someone else. Ah well, that's the OCD talking. Let me pay some more bills......
Funny thing tho, I am a VERY anal person, really organized type A person when it comes to bills. I used to write all my bills ahead of time, stamp them, return addy them, write on the back of the envelope exactly what day to mail them so I never missed a payment. I do not have to do this anymore. Kinda taken a job for me and given to someone else. Ah well, that's the OCD talking. Let me pay some more bills......
I pay all bills that accept credit cards through their own website (cell phone, newspaper, etc).
Everything is manual, no auto-pay in case I want to dispute something. (One time Sprint charged me $245 instead of $45. It's easier to straighten this out before they get any money rather than trying to get a refund).
One of my credit cards has a bill pay feature that lets me pay other credit cards. I use that to pay all my other cards.
So I only make one online payment to one credit card every month.
The only check I write is for rent, and that goes to my manager next door.
Can't remember the last time I used a stamp.
Everything is manual, no auto-pay in case I want to dispute something. (One time Sprint charged me $245 instead of $45. It's easier to straighten this out before they get any money rather than trying to get a refund).
One of my credit cards has a bill pay feature that lets me pay other credit cards. I use that to pay all my other cards.
So I only make one online payment to one credit card every month.
The only check I write is for rent, and that goes to my manager next door.
Can't remember the last time I used a stamp.
I am paranoid.
I like having my own personal "paper" records of my financial transactions that I can compare to the banks. Personally, I like writing checks, (I don't have many bills I have to pay every month), and never felt it was an onerous task to send out my payments by hand. Nowadays, you don't even need to lick stamps.
I think the main reason I dislike online bill pay is the horror storys I have heard about automatic deductions and the mistakes that have happened to people that I know.
If I bounce a check, it is my fault. Although, I have a different system than most people I know. I have three seperate bank accounts, one for bills like rent, insurance, cell phone, internet.....things that are required but regular. My other checking account is my slush fund, wich I use for monthly expenses such as food gas and play money.
The other account is for savings, and sadly, I don't really do much with that account. I might put $200 a month into savings.
I like having my own personal "paper" records of my financial transactions that I can compare to the banks. Personally, I like writing checks, (I don't have many bills I have to pay every month), and never felt it was an onerous task to send out my payments by hand. Nowadays, you don't even need to lick stamps.
I think the main reason I dislike online bill pay is the horror storys I have heard about automatic deductions and the mistakes that have happened to people that I know.
If I bounce a check, it is my fault. Although, I have a different system than most people I know. I have three seperate bank accounts, one for bills like rent, insurance, cell phone, internet.....things that are required but regular. My other checking account is my slush fund, wich I use for monthly expenses such as food gas and play money.
The other account is for savings, and sadly, I don't really do much with that account. I might put $200 a month into savings.
Me too!Rank_Tyro said:
I keep pdfs of every statement and and every payment confirmation.Rank_Tyro said:
I never use auto deductions for just this reason.Rank_Tyro said:
I have a very similiar system, with different accounts for different purposes.:thumbsup:Rank_Tyro said:If I bounce a check, it is my fault. Although, I have a different system than most people I know. I have three seperate bank accounts, one for bills like rent, insurance, cell phone, internet.....things that are required but regular. My other checking account is my slush fund, wich I use for monthly expenses such as food gas and play money.
The other account is for savings, and sadly, I don't really do much with that account. I might put $200 a month into savings.
AZsteelman
April 2006 BoM
I do everything online and have for a long time...I love it and the convenience of setting them up for monthly payment with E-bills...
I use to order duplicate checks to know exactly what I wrote. Never again will I waste that money. These days, most banks offer a mini photo copy of the check on line you can view.
Tyro, if you want a paper or hard copy, the on line version can be printed at anytime. I suggest you try to use billpay, it us SO much easier and cost effective for everyone involved. If you set up correctly, you will never be late on a payment, have a payment get mis sorted or torn to pieces. Also less potential late fees. Most time once I set up a payee, they require 2 business days to process a payment. When I mailed checks, typically I mailed 4-7 business days ahead to ensure it arrived on time. Try it bro, make the change, you will not regret looking back I promise.
Tyro, if you want a paper or hard copy, the on line version can be printed at anytime. I suggest you try to use billpay, it us SO much easier and cost effective for everyone involved. If you set up correctly, you will never be late on a payment, have a payment get mis sorted or torn to pieces. Also less potential late fees. Most time once I set up a payee, they require 2 business days to process a payment. When I mailed checks, typically I mailed 4-7 business days ahead to ensure it arrived on time. Try it bro, make the change, you will not regret looking back I promise.
I still love bill pay and hope to one day never mail a check again.
The only think that I find weird is the freaking doctors offices have a hard time figuring out what I am paying. Will show the invoice and everything for a 5 days to process, yet the next month I get another invoice from them. One time they tossed the bank check cause they could not figure out where to apply the check. Boneheads!
