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Bill Paying

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Services for Real Estate Pros

I have spent a good part of this morning paying my end of the month bills and updating and balancing "My Money"...I do most of my bill paying online.  About 75% of it through MyCheckFree.com and the other 25% via the individual websites for these companies.  I wish all companies were listed on MCF but they are not, in fact in January they eliminated Wells Fargo and Discover from their lists.   I've looked into bill pay through my bank but they require a $25 set up fee and then $10 a month.  I just can't see paying to pay my bills.  I know I could set some up for automatic payments but that scares me.   What happens if there is unforeseen circumstances that prevent the money from being in the bank the day it's set to be automatically withdrawn? 

If they are not listed on MCF I will go to the site for that company...I absolutely refuse to pay a company extra to pay my bill online.  There are many companies who require this.  Call me a skin-flint...but so be it, money is money.  Two of our mortgage companies allow online payments no charge, 1 charges a $10 Western Union fee monthly, and another won't take payments online.  Our sewer/trash company will not take online payments period.  I would love to go more checkless but it doesn't seem possible.  Why is there a need for one company to charge when others don't or are all companies eventually going to charge?  How do you hand your bill paying? Am I expecting too much?

I don't mind sitting and clicking a button to pay the bills, I have to spend time balancing my checkbook anyway...I do mind though the fact that it can't be done for all bills, I have to order checks every few months (I ran out a couple weeks ago, and it took a week to get new ones), and I mind terribly that these people are starting to charge us extra to pay online.

Angie Vandenbergh
Crye-Leike, Realtors - Memphis, TN
A Crye-Leike Blogger
I have account through Bank of America and it offers free bill pay. I have been able to pay everyone through their bill pay. They send electronically when possible, but they also print and mail checks on my behalf. I could pay anyone through their bill pay. What you are asking is standard at most banks. I would suggest looking for a new account at another bank that doesn't charge for that and offers bill pay where they mail checks too.
May 29, 2007 09:45 AM
Mary Warren
Las Vegas, NV
Thanks Angie, I appreciate the input...we have banked at our bank for over 20 years...you'd think they could cut us some flake!  $120 a year + $25 set up fee is not a lot of money but it's the principle behind it. I don't want to pay money to pay my bills!
May 29, 2007 09:50 AM
Maureen McPartlan, REALTOR®, San Luis Obispo, CA
Pacific Beach Properties - San Luis Obispo, CA

Mary,

With postage continually rising and Bank of America offering free online bill pay (although they do charge a small monthly account maintenance fee) I think online is the way to go.  If your creditors will not accept "online payment" BofA will send them a check in the mail, as Angie said.  Then you don't have to pay directly for checks and stamps and envelopes, etc; it's all grouped in that small monthly charge.  Mostly corporations scare me, but I have found BofA to be an amazing bank, especially because they're available nationwide 24/7.  I'd say it's time you made a switch.  Your gut is right on this one!

May 29, 2007 10:23 AM
Patricia Aulson
BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate - Exeter, NH
Realtor - Portsmouth NH Homes-Hampton NH Homes

Thanks you for your post today.  Bnaking online is the way to go today!  It's quicker for sure and overall cheaper.

Patricia Aulson/Lic NH/ME/MA

 

May 29, 2007 10:33 AM
Dan Allred
Allred Realty - Thousand Oaks, CA
DRE#01761967
I agree but I guess they just perceive it that postage should still be paid...hahahaha I agree though that we pay a fee... there are also several places you can take utility bills to when driving around and they will post it the day they get it and it is free.
May 29, 2007 12:34 PM