Comments on: Automated Payments vs Online Bill Pay

By: TheGooch

TheGooch — Wed, 07 Sep 2011 14:12:11 +0000

I used to allow automatic debits, but no longer. I'm converting everything to "push" bill pay where possible. It's important to be in control!! .-= TheGooch´s last blog ..Save money shopping online with Ebates! =-.

By: RainyDaySaver

RainyDaySaver — Tue, 06 Apr 2010 00:34:08 +0000

I don’t use automated payments for the simple reason that I may want to adjust my payments at times, depending on how our paychecks and bills are timed each month. I only use one auto-withdrawal — for my car insurance. It’s a small-enough withdrawal and it saves us $4/month to have it taken out automatically rather than writing a check.
.-= RainyDaySaver´s last blog ..Happy Easter! =-.

By: 4 Easy Ways to Pay Your Bills Early Every Month! | Good Steward Keys

4 Easy Ways to Pay Your Bills Early Every Month! | Good Steward Keys — Tue, 30 Mar 2010 17:40:00 +0000

[...] may also want to read: Automated Payments vs. Online Billpay (by Lakita a PFJourney) Article by Carlos Frank- Carlos is extremely passionate about helping people gain control of their [...]

By: PF Journey

PF Journey — Tue, 23 Feb 2010 15:45:39 +0000

@Elle,

That’s a perfect example of how automatic payments can spin out of control. I hope that person was able to get some or all of their overdraft fees refunded!

Kita

By: PF Journey

PF Journey — Tue, 23 Feb 2010 15:41:31 +0000

Hi Ronnie,

Welcome to PFJ! I’m glad you find the site informative! That is another problem…I’ve had that happen before. Also, if your auto payment is tied to a debit card and that card expires or is changed for any reason…you’ll need to remember to update all your payments or risk default and late fees.

See you around!
Kita

By: Ronnie

Ronnie — Tue, 23 Feb 2010 15:32:29 +0000

Hi! I just found your site and I’m enjoying your posts. Very informative! I had automatic bill pay prior to my credit union setting up online bill pay, and another problem is that, when you cancel a service, if the company doesn’t process it correctly, it continues to be debited from your account. I had this issue with Comcast. I’d allocated those funds for something else because I’d canceled my service, and ended up scrambling to cover the other charges until Comcast refunded me my money. That was a pain in the rear, and the last time I ever did automated payments.

By: PF Journey

PF Journey — Sat, 20 Feb 2010 23:49:16 +0000

Gail,

I’m glad the bank worked with you to waive those fees. It sounds like it was a trying time to say the least! I use e-bills, but you brought up a good procaution…should you need someone else to take care of your bills and they are coming to an inbox they don’t have access to, that could be a problem.

Thanks for sharing your story and taking the time to comment!
Blessings!
Lakita

By: Gail

Gail — Sat, 20 Feb 2010 20:53:47 +0000

I do online banking and never again on autopilot. Don’t feel safe allowing the utility companies or whoever to take control of my bill(s). I used to have two utility companies on autopilot until I came down with stage 4 leukemia and lymphoma and was sent to the hospital right away. Since I am a divorced mother with a disabled child, my mother had to move in for 7 months while I dealt with cancer. She had no clue where all my bills were and at that time, it became insufficient funds. I had to explain to the utility companies my situation and they waived those fees. I have since learned to make notes somewhere for others to keep tabs on my bills while I am incapacitated or unable to pay those bills. I now use online billpay and feel safer knowing that I paid the bill and to make sure there is enough money to cover. Also because of my past experience, I do have postal billing instead of the ebill. I love the internet and enjoy going green but not to the extent where family members are unaware of routine such as my incident. Enjoy reading your blog.

By: Elle

Elle — Thu, 18 Feb 2010 13:32:42 +0000

Great post; I’m on the same page as you! I know someone who had her direct deposit short hundreds of dollars due to an HR error. Since she gets paid on a monthly basis, she tried to negotiate lower payments with some of her bills until HR fixed it.

All of them said they’ll make a note and take out a smaller amount. Some bills took out the regular amount, though, and it caused a bunch of overdraft fees.

I also like having the control of when I need to make the payments and online bill pay does that for me.

By: PF Journey

PF Journey — Wed, 17 Feb 2010 21:11:37 +0000

Jeff,

Sounds like you have a great system that combines autopayments and some interaction on your part. Thanks for sharing, I’m always interested in how other people “make it work”

Kita