Can I just do a small cc vent?!

[remyandhollandsmommy]

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[NYCDiane]

I called the bank and they said it came out the day we had set up which is a week before it was due from my account and it shows that on my acct status online. I have no clue who is full of it, the cc or bank..all I know is I am second thinking using the bill pay feature and now will have it shown on my credit that the cc closed the acct instead of consumer! BTW, ALL the other bills I used the bill pay for were made on time. Hopefully this made sense cause I am so mad right now!!

Usually, it's the CC company that is full of it. HOWEVER, that "bill pay" the banks tout as being so wonderful and convenient?? I wouldn't use it if my life depended on it. Too many things can go wrong.

First, all they're doing is cutting a check and mailing it to the company. It is NOT an electronic transfer of funds. What happens if the mail gets lost or delayed??

Second, what if there is a "computer glitch" and your bills that month never get paid??

Third, what if your minimum payment due is higher (even by $1) than the amount you entered to automatically be paid each month?? Then you'll be late on your payment and be charged a fee and it could be reported negatively on your credit report.

I find it easier to just set up my accts online and pay the vendors directly online. This way, I know what's due and when, I know the date I paid it, have a confirmation number from the company I'm paying, etc.

I have all my accounts in my "favorites" and when I click, it goes straight to the log in page. I have put them all in a "folder" called BILLS so I just click on that and all my info is there. I would never trust my bills to be paid by a third party. I have to know they're being paid on time and the correct amounts are being paid.


BTW, call Best Buy again and speak to an account manager. Explain the situtation calmly and see if they'll reinstate the account for you.

 

[bonoriffic]

Usually, it's the CC company that is full of it. HOWEVER, that "bill pay" the banks tout as being so wonderful and convenient?? I wouldn't use it if my life depended on it. Too many things can go wrong.

First, all they're doing is cutting a check and mailing it to the company. It is NOT an electronic transfer of funds. What happens if the mail gets lost or delayed??

Second, what if there is a "computer glitch" and your bills that month never get paid??

Use a bank with a very detailed online bill pay policy. My bank has a guarantee if it doesn't arrive in time they eat any costs associated with that. In 6+ years never had an incident. Also the date I pick to pay the bill is the date the funds come out. So if the check arrives 5 days before that and is cashed, they don't withdraw funds until the date I picked.

The website also only lets you pick a date that can be met, so you can't pick tomorrow when you are paying a bill at 4pm today. Something like 3 days buffer is needed. It makes it much easier to control all bill pay through one interface than log on to several different websites, with different logins, etc.

It is also nice to be able to do things like doctors who rarely have online bill pay.

 

[disneylove69]

Use a bank with a very detailed online bill pay policy. My bank has a guarantee if it doesn't arrive in time they eat any costs associated with that. In 6+ years never had an incident. Also the date I pick to pay the bill is the date the funds come out. So if the check arrives 5 days before that and is cashed, they don't withdraw funds until the date I picked.

The website also only lets you pick a date that can be met, so you can't pick tomorrow when you are paying a bill at 4pm today. Something like 3 days buffer is needed. It makes it much easier to control all bill pay through one interface than log on to several different websites, with different logins, etc.

It is also nice to be able to do things like doctors who rarely have online bill pay.

Wells Fargo has this guarantee. After making a few payments to a certain company it even tells me how many days it takes to get there. Never had a problem.

 

[SandrA9810]

It depends on if the CC or who ever you are paying accepts electronic funds. Through my bank, it takes 3 days electronically or 5 days by check. Since I don't keep a check book, this doesn't bother me a bit.

It takes three days to process, and by the third day, the CC has it. But when I set it up, it tells me "recieved by". So if there's a holiday or the weekend, it'll clearly tell me the day the CC will get the payment. And the funds aren't withdrawn on my account until the final day.

It's half and half on how fast the CC will process the payment, some do it that day, some do it the following day.

I don't think you need to get in a huff at the bank. But it depends on how the funds were sent to Best Buy.