See this is why I hate going paperless. I find it MUCH easier to keep track when I get mail. I use autopay yes, but not having a paper statement and checking these cards online does elevate my BP a smidge. My system has worked thus far and who knows, maybe it'll keep my mind fresh 30 years from now when I'm in my 80's.
@805orbust wrote:See this is why I hate going paperless. I find it MUCH easier to keep track when I get mail. I use autopay yes, but not having a paper statement and checking these cards online does elevate my BP a smidge. My system has worked thus far and who knows, maybe it'll keep my mind fresh 30 years from now when I'm in my 80's.
Personally I find the transition to electronic communication has made it much easier for me to stay on top of things. I don't rely on email notices, just like I don't rely on paper statements; I monitor my accounts online. By the time I get a statement, its contents are already old news to me.
In this case it was an obvious error in judgment to assume, without verifying it, that interest would stop accruing just because a balance transfer had been initiated at another institution, but even having made that error, OP should have known -- through the miracle of online banking -- about 25 days before payment was due that there was a payment due.
@805orbust wrote:See this is why I hate going paperless. I find it MUCH easier to keep track when I get mail. I use autopay yes, but not having a paper statement and checking these cards online does elevate my BP a smidge. My system has worked thus far and who knows, maybe it'll keep my mind fresh 30 years from now when I'm in my 80's.
^ ^ ^ +1 ... And this is why I stay "old-school" and resist the "paperless options." I'm afraid one day that paper won't even be available unless you print it yourself, but I will continue to refuse all the annoying "invitations" to go paperless.
I totally agree that a paper reminder is more effective than electronic, which can more easily get lost in my inbox with an abundance of distractions. At least I get less "junk mail" on a daily basis than "junk email" since it costs someone postage to mail something while email is free.
Beyond that, let's say that I don't mind dealing with all my finances digitally. But ... what happens if I'm incapacitated or unable to manage my finances due to an illness or accident? Especially with face ID and two-factor authentication for security, it's becoming extremely difficult for a trusted third-party to manage my accounts for me, even if I maintain account details and passwords monthly as anything changes. I do have "auto pay" set up to the minimums but I don't want to set "pay in full" since my credit limits easily exceed how much I choose to keep in my payment accounts and I want control over moving balances before making payments. A paper statement arriving in my mailbox is much easier for someone other-than-me to manage.
Beyond that, here are a few other reasons I don't go paperless:
- Electronic statements are convenient and provide less clutter, but I still like my paper backups. Over the years, I've watched information I've stored digitally become more-and-more obsolete as storage media changes, software that reads it has changed, and files aren't easy to pull up on a screen today. I want access to my data as long as I want at my choice, and I don't want to have to jump through hoops to get to it.
- Websites will often store our data for some arbitrary period of time, but then it is erased. I don't want to have to add to my monthly chores to visit each account, access that statement, and download it to hard drive to make sure I have a copy. This just adds work for me. Saving the bank money at my expense and inconvenience.
- Financial institutions are saving a ton of money by not having to print or mail statements. But did they pass any of these savings back to the consumer or did they just pocket the savings and laugh at our gullibility? If I want a paper copy, I have to take time to access my statements and then use up my own paper and ink to print them.
@805orbust wrote:See this is why I hate going paperless. I find it MUCH easier to keep track when I get mail. I use autopay yes, but not having a paper statement and checking these cards online does elevate my BP a smidge. My system has worked thus far and who knows, maybe it'll keep my mind fresh 30 years from now when I'm in my 80's.
I refuse to go paperless--and, apparently, so do the majority of Americans. I took a picture of a "Jeopardy!" question right before Alex Trebek died; I'll have to dig it up to make sure, but I know I'm close on the numbers. It said something to the effect of 'a recent poll showed that even though they pay bills electronically, 96% of Americans still prefer to receive this'--and guess what 'this' was? Yep, PAPER statements!! Count me in that 96%!
I've paid my bills electronically since that first became possible, and I gave paperless billing a try, and also auto-pay, but nixed the latter two very quickly. They just didn't work for me.
With a paper statement, here's an example of how I use them--and can't if it's paperless: say a BofA bill comes; it shows the total balance, the minimum due, the due date, plus any other information that's relevant, such as 0% offers I'm in, or 0% BTs I used. At the top of the bill, I write the date I paid it, the amount I paid (or I just circle the total if that's what I paid), circle or put asterisks next to 0% notations and write what I used them for and when they expire, and so on and so on.... Among other things, paperless billing cannot show the date you actually MADE the payment, only the date it got PROCESSED--and, as I know many of us have experienced, discrepancies there can be a problem. Being able to physically hold a statement in my hand and say "I made the payment on MM/DD/YY but you didn't post it until ....." could come in very handy!
@Aim_High wrote:
@805orbust wrote:See this is why I hate going paperless. I find it MUCH easier to keep track when I get mail. I use autopay yes, but not having a paper statement and checking these cards online does elevate my BP a smidge. My system has worked thus far and who knows, maybe it'll keep my mind fresh 30 years from now when I'm in my 80's.
^ ^ ^ +1 ... And this is why I stay "old-school" and resist the "paperless options." I'm afraid one day that paper won't even be available unless you print it yourself, but I will continue to refuse all the annoying "invitations" to go paperless.
I totally agree that a paper reminder is more effective than electronic, which can more easily get lost in my inbox with an abundance of distractions. At least I get less "junk mail" on a daily basis than "junk email" since it costs someone postage to mail something while email is free.
Beyond that, let's say that I don't mind dealing with all my finances digitally. But ... what happens if I'm incapacitated or unable to manage my finances due to an illness or accident? Especially with face ID and two-factor authentication for security, it's becoming extremely difficult for a trusted third-party to manage my accounts for me, even if I maintain account details and passwords monthly as anything changes. I do have "auto pay" set up to the minimums but I don't want to set "pay in full" since my credit limits easily exceed how much I choose to keep in my payment accounts and I want control over moving balances before making payments. A paper statement arriving in my mailbox is much easier for someone other-than-me to manage.
Beyond that, here are a few other reasons I don't go paperless:
- Electronic statements are convenient and provide less clutter, but I still like my paper backups. Over the years, I've watched information I've stored digitally become more-and-more obsolete as storage media changes, software that reads it has changed, and files aren't easy to pull up on a screen today. I want access to my data as long as I want at my choice, and I don't want to have to jump through hoops to get to it.
- Websites will often store our data for some arbitrary period of time, but then it is erased. I don't want to have to add to my monthly chores to visit each account, access that statement, and download it to hard drive to make sure I have a copy. This just adds work for me. Saving the bank money at my expense and inconvenience.
- Financial institutions are saving a ton of money by not having to print or mail statements. But did they pass any of these savings back to the consumer or did they just pocket the savings and laugh at our gullibility? If I want a paper copy, I have to take time to access my statements and then use up my own paper and ink to print them.
+1,000,000! 
@SoCalGardener wrote:
@805orbust wrote:See this is why I hate going paperless. I find it MUCH easier to keep track when I get mail. I use autopay yes, but not having a paper statement and checking these cards online does elevate my BP a smidge. My system has worked thus far and who knows, maybe it'll keep my mind fresh 30 years from now when I'm in my 80's.
I refuse to go paperless--and, apparently, so do the majority of Americans. I took a picture of a "Jeopardy!" question right before Alex Trebek died; I'll have to dig it up to make sure, but I know I'm close on the numbers. It said something to the effect of 'a recent poll showed that even though they pay bills electronically, 96% of Americans still prefer to receive this'--and guess what 'this' was? Yep, PAPER statements!! Count me in that 96%!
I've paid my bills electronically since that first became possible, and I gave paperless billing a try, and also auto-pay, but nixed the latter two very quickly. They just didn't work for me.
With a paper statement, here's an example of how I use them--and can't if it's paperless: say a BofA bill comes; it shows the total balance, the minimum due, the due date, plus any other information that's relevant, such as 0% offers I'm in, or 0% BTs I used. At the top of the bill, I write the date I paid it, the amount I paid (or I just circle the total if that's what I paid), circle or put asterisks next to 0% notations and write what I used them for and when they expire, and so on and so on.... Among other things, paperless billing cannot show the date you actually MADE the payment, only the date it got PROCESSED--and, as I know many of us have experienced, discrepancies there can be a problem. Being able to physically hold a statement in my hand and say "I made the payment on MM/DD/YY but you didn't post it until ....." could come in very handy!
Actually, I disagree. I use electronic statements, and ALL of my cards actually show both the "transaction date" and the "posting date" for all payments. Also, to your point, who's to say you didn't write in when you made your payment AFTER the fact that it was late? Not saying you would do that, but just pointing out how easy it'd be to claim it was on time based on a self-reported, hand-written payment date, whether or not that date was accurate.
To OP, sorry about the BoA issues. This is why it is extremely crucial to ALWAYS follow up on BTs to ensure the account being paid really does get zeroed out, and if it doesn't, make sure to pay off any trailing interest.
@OmarGB9 wrote:
@SoCalGardener wrote:
@805orbust wrote:See this is why I hate going paperless. I find it MUCH easier to keep track when I get mail. I use autopay yes, but not having a paper statement and checking these cards online does elevate my BP a smidge. My system has worked thus far and who knows, maybe it'll keep my mind fresh 30 years from now when I'm in my 80's.
I refuse to go paperless--and, apparently, so do the majority of Americans. I took a picture of a "Jeopardy!" question right before Alex Trebek died; I'll have to dig it up to make sure, but I know I'm close on the numbers. It said something to the effect of 'a recent poll showed that even though they pay bills electronically, 96% of Americans still prefer to receive this'--and guess what 'this' was? Yep, PAPER statements!! Count me in that 96%!
I've paid my bills electronically since that first became possible, and I gave paperless billing a try, and also auto-pay, but nixed the latter two very quickly. They just didn't work for me.
With a paper statement, here's an example of how I use them--and can't if it's paperless: say a BofA bill comes; it shows the total balance, the minimum due, the due date, plus any other information that's relevant, such as 0% offers I'm in, or 0% BTs I used. At the top of the bill, I write the date I paid it, the amount I paid (or I just circle the total if that's what I paid), circle or put asterisks next to 0% notations and write what I used them for and when they expire, and so on and so on.... Among other things, paperless billing cannot show the date you actually MADE the payment, only the date it got PROCESSED--and, as I know many of us have experienced, discrepancies there can be a problem. Being able to physically hold a statement in my hand and say "I made the payment on MM/DD/YY but you didn't post it until ....." could come in very handy!
Actually, I disagree. I use electronic statements, and ALL of my cards actually show both the "transaction date" and the "posting date" for all payments. Also, to your point, who's to say you didn't write in when you made your payment AFTER the fact that it was late? Not saying you would do that, but just pointing out how easy it'd be to claim it was on time based on a self-reported, hand-written payment date, whether or not that date was accurate.
We're not understanding each other. 
Let's say you pay your Amex bill via BofA's bill pay on March 20. BofA tells you straight up that the first available date to process the payment is March 22. Amex will receive the payment on [or after] March 22, although they don't *post* it that day; as I've said in other posts, virtually all of my cards acknowledge a payment on the same day BofA made it, but they do not finish POSTING it (and adjust the account's balance) for 24-48 hours. There is no way that Amex would know you made the payment on March 20! But you would. Which is my whole point. Let's say Amex doesn't receive the payment and you have to call BofA to straighten it out--it would be important to tell them the date you actually initiated the payment, so they can check for glitches that day--knowing the date it was processed wouldn't help as much.
Also, this info I write on my bills is for *my* reference. There would be no point in lying to myself about the date I made a payment! My point about this info coming in handy refers to if an issue comes up, I can refer back to my notes and give the bank (either one) the appropriate information so they can research it.
@SoCalGardener wrote:Also, this info I write on my bills is for *my* reference. There would be no point in lying to myself about the date I made a payment!
This kind of detailed record-keeping has saved me a lot of hassle a few times. Being able to provide, down to the hour, when a payment was initiated or information was provided has allowed payments and other information to be tracked down.
I'm another hard-copy vote. Primarily for the reminder, but also in case something happens to be and P2 has to take over bill paying. P2 knows what I/we have, but the details would be so much easier to determine with hard copies arriving as prompts.
My vote is paperless. Just enough papers stacked up from other stuff till I go thur them then trash em. Have to go online to make those payments anyways. So not to forget. I made shortcuts on my desktop and icons with the date the statment cuts. Created icons pics to store in a file on the computer that the links pull from and renamed the icon name. Soon as I log on. I can see whos next to pay and when. And the banks where the payment comes from too. Kinda KISS method.
