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Location: Formerly Pleasanton Ca, now in Marietta Ga
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I have it for everything I can. Actually I put everything on my credit card for the points if I can, then have the card paid in full each month with autobill pay. Makes life so much easier
We have, forever, done a combination of all the things mentioned in previous posts.
We have never had an issue with any sort of error until this month.
We had a non-recurring bill posted and paid through our account by the bank. The bank sent the check in our name. The non-recurring bill company decided the bill was erroneous and we should not have paid it. (Whole other story....) The check was returned to us, still made out to the non-recurring bill company. Okay, so no harm done. Now I have to return the check (un-cashed by the non-recurring bill company) to the bank to get it credited back to my account. WHAT?!!!! How has the money already left my account when the company never cashed the check? The bank claims they can't credit the money back to my account because it's already left my account ..... but, but, but... it never was "cashed" by the non-recurring bill company, so the money should never have left my account to begin with, right?
No, that's not right. According to the bank, the money is already pulled from my account and the bank has it in one of their "escrow" accounts awaiting payment. If the payment request never materialized then I'm out that money because it's already been transferred to the bank's escrow payment account and there is no clear cut path back to my account. The only way (according to the bank) is to provide them with the original check (in my possession because the non-recurring bill company returned it to my address). So what the hell happens to that money if I don't turn over the returned check, or if it got lost in the mail, or, or, or????
My SO says to deliver the returned check to the bank tomorrow with a smile on my face, a zipper on my lips and let them credit our account. Contrarily, this little voice inside me keeps saying don't do it, don't knuckle under to da' man and become a sheep that allows this small transgression to continue. They charge me for a service, then use my money to deposit in escrow type accounts that probably make them untold fortunes daily.
I say, to hell with kneeling or not kneeling at ball games, we should be more concerned by these banking monoliths that electronically move our money at will and continue to make billions while semi-fleecing the common man all in the name of federal regulations that are manipulated to suit their needs.
^^^^ All of which perfectly illustrates KA's point about never allowing any entity to pull monies from one's account. Heck, I'm no accountant or money whiz, but even I can see this.
You'd written
Quote:
Contrarily, this little voice inside me keeps saying don't do it, don't knuckle under to da' man and become a sheep that allows this small transgression to continue.
This is just you being upset for the moment.
By signing up for "Auto-Pull" you enabled that this could happen, and it sounds like you were paying fees for it, even then. Go read the paragraphs of small print on your auto-pay agreement.
Anyway, how in the world is taking control of your own money again by any remote possibility "knuckling under"? The are not doing anything at all except what you've allowed them to do.
I'm sorry for your troubles, and I'm sure it can be fixed. You might just mention you're so shocked such an egregious error could be made that you're thinking of moving all your business down the road to that competing bank....they may even pony-up a return of fees for the last while or something.
We have, forever, done a combination of all the things mentioned in previous posts.
We have never had an issue with any sort of error until this month.
We had a non-recurring bill posted and paid through our account by the bank. The bank sent the check in our name. The non-recurring bill company decided the bill was erroneous and we should not have paid it. (Whole other story....) The check was returned to us, still made out to the non-recurring bill company. Okay, so no harm done. Now I have to return the check (un-cashed by the non-recurring bill company) to the bank to get it credited back to my account. WHAT?!!!! How has the money already left my account when the company never cashed the check? The bank claims they can't credit the money back to my account because it's already left my account ..... but, but, but... it never was "cashed" by the non-recurring bill company, so the money should never have left my account to begin with, right?
No, that's not right. According to the bank, the money is already pulled from my account and the bank has it in one of their "escrow" accounts awaiting payment. If the payment request never materialized then I'm out that money because it's already been transferred to the bank's escrow payment account and there is no clear cut path back to my account. The only way (according to the bank) is to provide them with the original check (in my possession because the non-recurring bill company returned it to my address). So what the hell happens to that money if I don't turn over the returned check, or if it got lost in the mail, or, or, or????
My SO says to deliver the returned check to the bank tomorrow with a smile on my face, a zipper on my lips and let them credit our account. Contrarily, this little voice inside me keeps saying don't do it, don't knuckle under to da' man and become a sheep that allows this small transgression to continue. They charge me for a service, then use my money to deposit in escrow type accounts that probably make them untold fortunes daily.
I say, to hell with kneeling or not kneeling at ball games, we should be more concerned by these banking monoliths that electronically move our money at will and continue to make billions while semi-fleecing the common man all in the name of federal regulations that are manipulated to suit their needs.
Did you initiate the payment from the bank or from the paid-to entity? The main reason I don't like the banks on line payment systems is because they pull the money from your account as soon as they "send the check" and before the entity being paid receives or processes it. Also, why are they sending a check when everything can be done electronically these days? The reverse method, where I go into my account on the payee's website and instruct them to pull the payment from my account has never failed me and sometimes gives me a day or two of float since they credit my account as soon as the payment is initiated on their end even though my bank doesn't process it for 24-48 hours.
I'll have to check into my bank's bill pay options a little more. Haven't really changed anything or checked out any new features that may have been added since I first started bill pay more than 20 years ago.
I have see if I can set up truly AUTOMATED bill pay, that is PUSHED from my bank's end. (and not pulled from the payee's end).
I wasn't sure I had that option decades ago. Even if I did, I wasn't Internet savvy and it might have seem more intimidating or complicating for some reason.
But if I can set up bill pay to be pushed from my end, so that I never have to send it myself. Every month it's paid whether I log on or not.....that appeals to me. Now whether my insurance company will accept that and continue to give me the discount for automated payments or not....I don't know.
I'll have to check into my bank's bill pay options a little more. Haven't really changed anything or checked out any new features that may have been added since I first started bill pay more than 20 years ago.
I have see if I can set up truly AUTOMATED bill pay, that is PUSHED from my bank's end. (and not pulled from the payee's end).
I wasn't sure I had that option decades ago. Even if I did, I wasn't Internet savvy and it might have seem more intimidating or complicating for some reason.
But if I can set up bill pay to be pushed from my end, so that I never have to send it myself. Every month it's paid whether I log on or not.....that appeals to me. Now whether my insurance company will accept that and continue to give me the discount for automated payments or not....I don't know.
This is what I do with recurring bills that are always the same amount (like car payments and mortgage). With other bills, dang, it's just not that hard - get the bill, log onto my bank's site, pull up who I'm paying, put in the amount, and pick a date. It takes about 10 seconds, literally. No stamps, no envelopes, no mail. But I type in the amount and I choose the date. Heck, I choose to pay it or not (for instance, AT and T mischarged me one time and I chose not to pay them till we got the bill straight).
Did you initiate the payment from the bank or from the paid-to entity? The main reason I don't like the banks on line payment systems is because they pull the money from your account as soon as they "send the check" and before the entity being paid receives or processes it. Also, why are they sending a check when everything can be done electronically these days? The reverse method, where I go into my account on the payee's website and instruct them to pull the payment from my account has never failed me and sometimes gives me a day or two of float since they credit my account as soon as the payment is initiated on their end even though my bank doesn't process it for 24-48 hours.
Whether a transfer is done electronically, or by check (only one or two of my bills are paid by a bill-pay check) is because the receiver is not equipped to accept it electronically. It's not the fault of the bank. They are sending guaranteed funds, so of course your account would be debited when the check is sent.
Whether a transfer is done electronically, or by check (only one or two of my bills are paid by a bill-pay check) is because the receiver is not equipped to accept it electronically. It's not the fault of the bank. They are sending guaranteed funds, so of course your account would be debited when the check is sent.
My Ebill payer charges my account when a paper check clears there master account, not when its mailed. It could be a few days, or 3 or 4 weeks.
Anyway, I think bank bill pay is the greatest thing since sliced bread. I am in total control of the timing and the amount. I can set it to pay automatically, or get a reminder. I do all my banking online, and check my account every few days.
I don't know why anyone wouldn't like it.
There are a few payments that draft my acccount, like Dish, and my insurance company. Not my preference, but no big deal.
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And so is KA
