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I use both but mostly do the same as your wife. At least by sending a check through the mail you know your payment will get there.
Actually, you don't. I've had checks I've mailed get lost in the mail on more then one occasion (and for some important payments, too, like student loan payments). And when you use online bill pay, you receive an electronic receipt immediately, so there's no doubt that the payment went through.
I would NEVER use a debit card. I told my banks not to send a debit card, just a plain atm card. I use reward credit cards to pay for things like gas, supermarkets,Target, Walmart etc and write one check to the credit card company. I have gotten a lot of free hotels and airline flights using reward cards. I could also use cash back rebate cards and probably get even a better deal.
Debit cards do not have the protection of credit cards.
"Debit cards are not protected like credit cards, which means if your debit card is compromised, the potential damage can be pretty severe.
Since a debit card is linked to your bank account, anyone with your card information can get instant access to all your funds. With a credit card, you’re billed for transactions later, so the damage of theft is handled differently. "
Basically a myth - although a very popular one. All big bank debit cards have zero-liability policies for fraudulent purchases. I've had two fraudulent purchases - i got my money credited to my account pending investigation quicker than with a credit card that was swiped. (All were corrected - but the credit card can have FICO number consequences if you are not careful with following up). When it comes down to it the only real difference is points vs no points. Which to many people don't amount to a hill of nothing. However, unless you pay your credit cards off in full each month the money you spent using credit is more expensive than that debited from your bank account. And when it comes down to spending money that you do have versus spending money that you don't have - a debit card wins hands down.
This tripe has been peddled out for years now as expert advice even tho facts have overtaken it. And credit card companies are not stupid - they make way, way more from your interest payments than they lose giving out points (interest is actually the majority source of their revenue, not merchant/transaction fees). Credit card money is expensive. Even more so for those that charge an annual fee.
3. Always write checks for bills - We were going to try electronic bill paying but when I was talking to a representative from my bank they told me half of my payees were still not linked so they would be mailing those checks. At that point I ended my experiment with electronic bill paying. If the bank is going to mail a check I'd rather do it myself. Now that was a few years ago. I'm sure most of the payees are now linked but be forewarned. You may want to check which payees are not linked.
My bank ATM card is never used as a debit card in a store. I only ever use it in bank-owned ATM machines. I have no interest in unwinding the huge mess that happens if your card gets cloned. I use a credit card for everything that will take it. I use online pay straight out of my household checking account for everything else and most of that is configured to auto-pay in full.
I do have to write some paper checks. The quarterly condo fee, quarterly property tax bill, and sewer bill at my Vermont ski place are paper checks. 3 or 4 boat yard/dinghy dock bills and the mooring service guy are paper checks. I doubt I write more than 20 paper checks per year. The book of stamps in my wallet lasts a year or so.
Actually, you don't. I've had checks I've mailed get lost in the mail on more then one occasion (and for some important payments, too, like student loan payments). And when you use online bill pay, you receive an electronic receipt immediately, so there's no doubt that the payment went through.
Oh, there's no doubt that both have their drawbacks. I was just saying that I personally feel more comfortable using "snail mail" when it comes to paying bills.
And I stand by my belief that the internet will one day go down. Even for an hour, it doesn't matter how long. And when it does, what will the people who rely on it for their everyday business and needs do then?
And I stand by my belief that the internet will one day go down. Even for an hour, it doesn't matter how long. And when it does, what will the people who rely on it for their everyday business and needs do then?
You should stand by it. Some years back, my ISP was out of service for a whole month. Some major facility had failed, and I would not have Internet for however long it took for them to restore it. They wouldn't even have credited me for the fee had I not raised hell, and they seemed to think I was being very unreasonable not to want to pay for something I wasn't receiving.
The answer is simple: even if you pay your bills online, you need to be able to mail checks if it comes down to that. Because the Internet isn't always on, everywhere, any more than is any technological development. Pieces break and need replacement. When those times come, one can do it the old way.
And I stand by my belief that the internet will one day go down. Even for an hour, it doesn't matter how long. And when it does, what will the people who rely on it for their everyday business and needs do then?
Use alternate methods of payment, of course. Pay-by-phone and mailing a check via snail mail are still alternatives. And it's really only an issue if the lack of internet access lasts more than a day or two.
"But what if the internet goes down, oh noes!" is just silly hand-wringing. What if postal delivery goes down? Do you worry much about that? It happens - I doubt much mail is being picked up or delivered in Houston right now. Large-scale weather events have made mail deliveries a mass for days over big areas of the US multiple times in the past, but even in the pre-internet days we somehow muddled through.
People should use whatever form of bill pay the prefer and feel comfortable with, but remember in case of disruptions there's more than one way to get things done.
I use a CC for most purchases and only write checks to the gardeners for my rental properties (4 times a year). All other payments are electronically done. I don't have a debit card, only ATM card.
The answer is simple: even if you pay your bills online, you need to be able to mail checks if it comes down to that. Because the Internet isn't always on, everywhere, any more than is any technological development. Pieces break and need replacement. When those times come, one can do it the old way.
Huh? I have broadband internet at my house. I have a personal WiFi hotspot on my smartphone if I want to use my laptop instead of my iPhone and my broadband service is down. Beyond that, I have neighbors who would happily give me their WiFi password. I can walk/bicycle/drive 1/2 mile and get WiFi at dozens of businesses.
I only mail paper checks to those few places mired in the dark ages where I can't pay any other way. It's a pretty short list.
Check-writing is still a lot more common than you all think. I just retired from a utility-billing company and you would be amazed at how many people still write checks. I think most use the payment website to pay from credit or debit, and let me tell you, we had a TON more problems with those than with checks bouncing.
And with the exception of our car insurance, I, too, pay bills with checks. It works for me.
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