I use direct debit for bills that will be the same amount every month, and bank transfers for bills that I want to check first (credit cards, cell phone, etc.).
I probably will be in the minority here, but I don't like auto pays or auto debits. I still like paying my own bills. I log into my bank account once a month to pay bills. I go to the bill payer section, click on the payees, type in the amount to pay and submit. If I have 7 bills to pay, I am in/out in under 3 minutes with a printed copy of the transactions. My bank pays most of mine through auto transfer, but for the few businesses that are still in the dark ages and don't use that, the bank actually cuts them a physical check and mails it AT NO COST TO ME. No stamp, no fee, zada, zilch. They guarantee payment within a few days and if there is a dispute, they handle it all. If I ever take it a step further, I will have the bank auto pay them.
Dale
Dale Pace
Wife to Terry (Teacher's Pet)
Mom to 2 rescued Scotties
Bailey and Neal
2006 Tiffin Phaeton 40' QSH, 4 slides (Phaeton Place)
2003 Sport Trac Toad
Fulltiming since retiring in 2005
I pay all of my bills via the bill pay feature of our bank (USAA). For several of them (e.g. Verizon and Dish) I receive an electronic bill and have it scheduled to be paid by the due date. For others where the amount doesn't change, I have automatic payments set for varying dates every month. For more sporadic payments, I have the accounts set up and go in as needed to make the payments.
I've used this system for over 3 years and never had a problem. I like the control of doing it this way. I can stop the payments at any time and don't have to worry about deductions being continued for a service (e.g. a membership) that I've canceled.
Of course, I am only RARELY without Internet access, so I can (and do) check things frequently. For me, it's a control issue. However, others use the automatic debits and they work for them, so maybe I'm being a bit "anal" about the whole thing.
I look forward to reading about the experience of others.
Scottiemom wrote: I probably will be in the minority here, but I don't like auto pays or auto debits. I still like paying my own bills. I log into my bank account once a month to pay bills. I go to the bill payer section, click on the payees, type in the amount to pay and submit. If I have 7 bills to pay, I am in/out in under 3 minutes with a printed copy of the transactions. My bank pays most of mine through auto transfer, but for the few businesses that are still in the dark ages and don't use that, the bank actually cuts them a physical check and mails it AT NO COST TO ME. No stamp, no fee, zada, zilch. They guarantee payment within a few days and if there is a dispute, they handle it all. If I ever take it a step further, I will have the bank auto pay them.
Scottiemom wrote: ... I log into my bank account once a month to pay bills. I go to the bill payer section, click on the payees, type in the amount to pay and submit. If I have 7 bills to pay, I am in/out in under 3 minutes with a printed copy of the transactions. ...
That's pretty much what I do, but I don't bother with the printout; one of the goals here is to reduce the paper involved. I just take a screen shot of the confirmation page. It's much faster and cheaper to generate, easier to store, and I can print it out if there's ever a dispute. Haven't needed one yet, in years of online banking.
Judy and just returned from spending a week with my daughter and her family, who live in McAllen TX. We left the 5er at home and drove the car. Upon our return home, we stopped at a motel in OK to spend the night. The desk clerk indicated that if I paid by cash, my bill would be $20 higher than if I paid by credit card. So I whipped out my Visa. I confronted my son-in-law as to why no one wants to accept cash in a high traffic area. He informed me that so much counterfit money is being brought in to the US through Mexico, that business' in his area are reluctant to accept cash anymore.
2001 Ram SRT+, W2500 488 CID V-10, 5 Speed
2004 Cougar 285 EFS
One Wife (Judy), One Cat (Kat)
SFC US Army (Ret)
I do not allow other parties access to my bank accounts. That is what you do when you sign up for auto-pay with them. The banking nightmares than can ensue when to try to cancel these kinds of arrangements can be a real disaster.
Much easier to schedule auto-payments from your end via online banking. That leaves you in control, but without a lot of hassle every month.
Offline
