Up until now, I've always gone to individual websites to pay my bills online. And while that has worked in the past, I thought I'd finally give bill pay a try instead.
How many people are currently using their online bill pay from their bank or credit union? If so, have you had much problems with getting it set up? How well is it working for you so far?
I placed several of my bills on it. I think one of them is working, but the rest are still pending and iffy. One in particular, my internet bill, is strangely not working and I don't know why.
So, anyways, just wondering what your experiences are with online bill pay, and if there are any tips you can offer.
Bill pay questions
June 14th, 2010 at 02:52 pm
June 14th, 2010 at 03:36 pm 1276526176
All of our other bills are automated with the company. For example our mortgage: we provide our bank information so that our payment is pulled on a certain day each month. Again, never any problems with this method. I like this method the best simply because I don't have to provide information each time and I don't have to do anything other than record the payment in my check register.
June 14th, 2010 at 03:36 pm 1276526214
June 14th, 2010 at 03:47 pm 1276526856
I have always used the bill pay feature from my credit union. It was pretty straightforward and easy for me to set-up but I would think that depends on your bank's website and how user friendly it is. I just enter the account information for each bill I want to pay automatically. When I select certain payments, it let me know how long it would take for the payment to arrive based on the location of bill payment collector. Some accounts I have it set where my payments goes out automatically, I do this with my bills that have the same amount. Others, I input the payment each month since the amount due is not consistent month to month. There is no additional cost or fee for me to use this feature.
The only exception for me so far with my credit union is that I can’t make any automatic payments towards account that does not have my name on it. For an example, I would like to make payments to my parents in law for their help with child care and etc. I want the money to go to their bank account directly instead of having to write a check. I am still trying to figure this one out.
The only exception is that I use the individual sites for credit card. I like it this way because I have it set where payments are sent automatically for the full balance each month to ensure full payments are made each month. (I am kind of lazy and rather have it all automatic as much as I can and it avoids late errors on my end).
The thing to really watch out for is some companies change account numbers on my account without warning. I am not sure if they do this because they are confused with the bank payment or what? Comcast and one gas credit card (DH's) did this to me. After I received a bill payment error notification, I had to recheck the account number on my statements. Sure enough they changed my account number. I find this really odd. One place they had to change because of a merger, but I was very disappointed that I had no advance warning. Because of this, I am sure to check my statement each month despite the automatic payments. (Comcast actually had no excuse for the account # change, they also stopped sending statements without notice and we had to call to reinstate the statements).
June 14th, 2010 at 04:47 pm 1276530479
I have been doing online bill pay "forever." My old wee little CU's bill pay was a bit clunky and I found it very frustrating. The worst was that they debited my account the second they paid the bill, and then it became a problem to clear up if the payment got "lost." Happened a couple of times where money was deducted from my account, but vendor never got the payment. (They 100% mailed checks - no electronic payments).
Around 2006 I switched to a very large credit union. The set up was easy peasy and no complaints or problems. Some of the bills they e-pay, and some they just cut checks for me (tells me which is which). For the e-pay ones, I can even see the invoices on my banks' website. They don't deduct the money until it clears (checks), which is a HUGE plus.
I do not pay anything automatically. I just go in about once a month and enter all the amounts and dates I want everything to pay. It takes about 5 seconds. But I always look at every invoice when I received it - I do not like "automatic payments," at all.
I have since realized that I can pay individuals through the online bill pay. My CU will just send them a check. I pay the preschool and gardener (individuals) through there. Saves stamps, checks, time, etc.
Which means I rarely every write a physical check any more. I love it!
June 14th, 2010 at 04:51 pm 1276530708
June 14th, 2010 at 04:52 pm 1276530765
P.S. I have never had one issue in about 4 years, with this larger CU.
June 14th, 2010 at 05:30 pm 1276533014
June 14th, 2010 at 10:51 pm 1276552287
June 14th, 2010 at 10:54 pm 1276552447
I still check over everything pretty carefully. One month I thought I had set up a payment (through ING) and found out that I hadn't. So I double and triple check now.
June 14th, 2010 at 11:05 pm 1276553158
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June 23rd, 2010 at 09:24 pm 1277324659