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watchnerd
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Re: BofA apparently doesn't want my money



cheddar wrote:








PatronHeel wrote:
I pay my BofA CC through my Wachovia checking account online billpay. It's always worked pretty quick for me, 1-2 days to post and I don't have to worry about checks.




I'm glad that works for you.  I refuse to use Billpay of any kind, so I'm looking for a way to pay online from the BofA site.

 

I want to pull the payment rather than push it.


 



Message Edited by cheddar on 05-04-2008 07:46 AM




cheddar, just out of curiousity and I don't mean to threadjack, but why the refusal to use electronic billpay from a checking account? Just don't like it, or is there some other concern, like security?

Perhaps I misinterpreted what you mean.
4/25: TU 793, EQ 791, EX ?
Goal: 800s by 12/09
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Scamp
Posts: 2,791
Registered: ‎03-18-2007
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Re: BofA apparently doesn't want my money



cheddar wrote:
Thanks, scapegrace, for finding that for me!
 
If that's the case, I guess I'll just have to phone in my payment every month.
 
Thanks again!
 


Just so you know - if I read right the REST of that 'how do I pay my bill from another institution' page, paying by phone will cost you $15.00 each time!
 
 
_____________________________________________________________________________
It's never too late to become the person you might have been. ~George Eliot

02/12/09 EX: 701 / 02/08/10 EQ: 719 / 02/08/10 TU: 723

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haulingthescoreup
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Re: BofA apparently doesn't want my money

When you pay a bill online from your own checking account, I think of it as "pushing" your money into the account. There can be some serious delays in crediting the payment.

When you pay a bill online from the creditor's site, you're "pulling" money into the account, and it's generally credited that very day. (Exception: some of the crummier banks still delay the crediting, but it's not common.)

cheddar's current problem is that since they haven't set him up yet, he can't pay on the Bofa site to pull in the payment. One alternative is to go to his checking account, enter all the BofA account info, and push the payment in. I got lucky --BofA credited my account that very day.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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beenthere
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Re: BofA apparently doesn't want my money

Wow. I was completely unaware. I pay all my bills from my BoA checking account on Bill Pay.
So, if I cut it close it's best to go the the billing agencies site to pay a bill then, if I've got this right.
1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
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watchnerd
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Re: BofA apparently doesn't want my money



haulingthescoreup wrote:
When you pay a bill online from your own checking account, I think of it as "pushing" your money into the account. There can be some serious delays in crediting the payment.

When you pay a bill online from the creditor's site, you're "pulling" money into the account, and it's generally credited that very day. (Exception: some of the crummier banks still delay the crediting, but it's not common.)

cheddar's current problem is that since they haven't set him up yet, he can't pay on the Bofa site to pull in the payment. One alternative is to go to his checking account, enter all the BofA account info, and push the payment in. I got lucky --BofA credited my account that very day.




I understand cheddar's problem, I was just wondering if there was a more general objection to push as compared to pull.

For me, I prefer to do it all in one place. I like having my checking account receive e-bills, then push the payments out, as I don't have to fiddle with half a dozen different websites. I've never run into a timing problem because I can set up a rule to send the payment 5,7,10, whatever days before the bill is due.
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cheddar
Posts: 6,794
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Re: BofA apparently doesn't want my money



watchnerd wrote:


cheddar wrote:



PatronHeel wrote:
I pay my BofA CC through my Wachovia checking account online billpay. It's always worked pretty quick for me, 1-2 days to post and I don't have to worry about checks.



I'm glad that works for you.  I refuse to use Billpay of any kind, so I'm looking for a way to pay online from the BofA site.

I want to pull the payment rather than push it.



cheddar, just out of curiousity and I don't mean to threadjack, but why the refusal to use electronic billpay from a checking account? Just don't like it, or is there some other concern, like security?

Perhaps I misinterpreted what you mean.

My refusal to use Billpay is for a number of reasons.
 
1) It's not how I pay all my other cards, so it's a bit irritating to have to make special accomodations for one particular card just because it doesn't play well with others.
 
2) I have my checking at WaMu.  Many moons ago, they tried to sell me on their Billpay service, but I was unconvinced, so they offered to demo it for me by setting up a Billpay of $1 to be sent via check to my home address.  The payment was never debited, the check never came, and WaMu was clueless as to why it hadn't gone through.  On top of that, I never even received any notification that the payment failed.  That experience soured me on the whole idea of Billpay.  If that had been a real payment rather than just a "demo payment" to myself, it could have caused some problems.  Perhaps other systems are better than WaMu's, and perhaps WaMu has worked out the bugs in the meantime, but I'd rather not test that theory with my own accounts.
 
3) I trust myself to make my own payments on time much more than I trust another company to do it for me.
 
4) Billpay doesn't give me an immediate confirmation number from the creditor's system that I can use as a reference just in case the payment isn't credited in a timely manner.  Just from a CYA perspective.
 
5) It's 2008.  There is no excuse for any financial institution not to offer online pull-through ACH payments.
 
----------------------------
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Scamp
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Re: BofA apparently doesn't want my money

[ Edited ]
Cheddar, when I looked at the myeasypayment pages just now, they had BofA logos all over the place and NO mention of any third-party company.
 
Is there any chance this IS BofA's 'pull-thru' option, completely in-house....?  Don't the third-party options always make it clear they're third party?
 
Or am I being dense (I've never knowingly used those sites, though I'm thinking now that my first payment WAS through a Bill Pay transaction and I just didn't realize at the time that was the case), and just the fact that it's called myeasypayment.com is the third-party tip-off...?
 
Edited to add:
 
P.S.:  I avoid BillPay type things for all the same reasons Cheddar stated; I just don't trust the service not to have a glitch or be slow or heaven-knows-what when it really matters!


Message Edited by scapegrace13 on 05-04-2008 08:22 AM
_____________________________________________________________________________
It's never too late to become the person you might have been. ~George Eliot

02/12/09 EX: 701 / 02/08/10 EQ: 719 / 02/08/10 TU: 723

Backdoor Numbers, Credit Scoring 101, Understanding Your FICO Score PDF
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beenthere
Posts: 971
Registered: ‎01-13-2008
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Re: BofA apparently doesn't want my money

Yeah, I love my Bill Pay....well, you know what I mean. :smileyhappy:
From the BoA Bill Pay page I receive all my bills. I can tell the site on which day I'd like to send payment. I auto pay an ING account and manually select payments on eveything else. It takes longer to enter payments on my checkbook register than it does to make the actual payments.
Remember when we had paperwork scattered from one end of the coffee table or desk on bill paying day? I took an hour? Wasn't so long ago! I can still taste the stamp glue. LOL.

watchnerd wrote:


haulingthescoreup wrote:
When you pay a bill online from your own checking account, I think of it as "pushing" your money into the account. There can be some serious delays in crediting the payment.

When you pay a bill online from the creditor's site, you're "pulling" money into the account, and it's generally credited that very day. (Exception: some of the crummier banks still delay the crediting, but it's not common.)

cheddar's current problem is that since they haven't set him up yet, he can't pay on the Bofa site to pull in the payment. One alternative is to go to his checking account, enter all the BofA account info, and push the payment in. I got lucky --BofA credited my account that very day.




I understand cheddar's problem, I was just wondering if there was a more general objection to push as compared to pull.

For me, I prefer to do it all in one place. I like having my checking account receive e-bills, then push the payments out, as I don't have to fiddle with half a dozen different websites. I've never run into a timing problem because I can set up a rule to send the payment 5,7,10, whatever days before the bill is due.


1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: BofA apparently doesn't want my money



scapegrace13 wrote:


cheddar wrote:
Thanks, scapegrace, for finding that for me!
 
If that's the case, I guess I'll just have to phone in my payment every month.
 
Thanks again!
 


Just so you know - if I read right the REST of that 'how do I pay my bill from another institution' page, paying by phone will cost you $15.00 each time!
 
 


Argh!
 
So much for that idea.
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: BofA apparently doesn't want my money



scapegrace13 wrote:
Cheddar, when I looked at the myeasypayment pages just now, they had BofA logos all over the place and NO mention of any third-party company.
 
Is there any chance this IS BofA's 'pull-thru' option, completely in-house....?  Don't the third-party options always make it clear they're third party?
 
Or am I being dense (I've never knowingly used those sites, though I'm thinking now that my first payment WAS through a Bill Pay transaction and I just didn't realize at the time that was the case), and just the fact that it's called myeasypayment.com is the third-party tip-off...?
 
Edited to add:
 
P.S.:  I avoid BillPay type things for all the same reasons Cheddar stated; I just don't trust the service not to have a glitch or be slow or heaven-knows-what when it really matters!

Hmm...now that's interesting.  Perhaps this is their in-house system after all.
 
I'll have to look into it.  I still wonder why it's easier to make an online payment with Orchard than it is with BofA.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )

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