My BAD experience using Bill Pay to pay my CC balances.

[Green456]

Not all bill payer services are created equal. Obviously TD bank has one of the poorer implementation.
Payments are also not reported late on your FICO unless it’s 30 days past due.
I prefer ebill services due to convince of having everything set up in one place.

[SouthJamaica]

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@Green456 wrote:
Not all bill payer services are created equal. Obviously TD bank has one of the poorer implementation.
Payments are also not reported late on your FICO unless it’s 30 days past due.
I prefer ebill services due to convince of having everything set up in one place.

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I love bill pay. As you say, they are not all created equal.

I have never used TD's, and after reading what happened to OP I never will.

[CreditInspired]

Hi OP

I can't even imagine how you must have been feeling when you found out your payments had not been made. But I can empathize with you because I know without a doubt I would have been indignant--and as my momma would say, "too fit to be tied," whatever that saying means.

At first, I didn't understand until DaveinAZ explained why TD Bank would do snail mail, but now understanding it is a Canadian bank, I guess it makes sense; but no matter what, you still should have been notified. 

I have been using NFCU billpay for many years but only online, not telephonically. I just like the proof and a confirmation number that it's going to be paid on such-and-such a date versus word of mouth. But like you said, lesson-learned. I am just happy that a supervisor understood your predicament and had the foresight to waive any fees. So, you're right, definitely have CCs accounts linked to your checking account because unfortunately, Murphy's Law, if it can happen, it will happen.

I prefer pushing payments. I rarely do pull payments; and the couple of times I did was because I needed a payment to post the same day. The other reason I like doing it online is because when I enter the payment amount in billpay, it actually shows the first available date a payment can be made. It's usually never the next day unless I do it earlier in the day. And, the only time a payment takes 4 days is if I'm making a payment to a person or company--then a draft check must be mailed out.

So now, enjoy your peace of mind knowing all your payments have been posted. 

And thanks for sharing your story because it will help someone else.

[CreditInspired]

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@Anonymous wrote:

I never used the Bill Pay feature of a bank/brokerage, it always seemed like such a pointless feature to me.  Why don't people just mail the check themselves?

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Honestly, I don't even know the last time I even ordered or wrote a check. I do know it's been years though.

[CreditInspired]

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@UncleB wrote:

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@Anonymous wrote:

I never used the Bill Pay feature of a bank/brokerage, it always seemed like such a pointless feature to me.  Why don't people just mail the check themselves?

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There are several reasons I prefer using bill pay.  It's cheaper (stamps cost 55¢ now) and usually faster, with electronic delivery taking place in only a day or two.

Not all bill pay platforms are created equal, though.  My bank (USAA) uses CheckFree as their underlying provider, which tends to work well for me.  The only creditor I have that they pay via paper check is BBVA, but the issue seems to be on BBVA's side (WF's in-house bill pay service pays BBVA via paper check as well.)

I also tend to prefer my bank's bill pay over paying from the creditor's site for most lenders since I can enter all my payments at once, and there's no chance of having a 'bounced' transaction due to a miskeyed account number.  That's just my own subjective preference, though.

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Hear, hear

[CreditInspired]

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@SouthJamaica wrote:

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@Green456 wrote:
Not all bill payer services are created equal. Obviously TD bank has one of the poorer implementation.
Payments are also not reported late on your FICO unless it’s 30 days past due.
I prefer ebill services due to convince of having everything set up in one place.

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I love bill pay. As you say, they are not all created equal.

I have never used TD's, and after reading what happened to OP I never will.

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Ditto!

[Anonymous]

I prefer pulls. On most accounts the day I get the bill I pay the minumum payment just to be safe. About once a week I make the regular payments. Our  payments depend on who has 0% and how much we have in free  cash flow for the week.  Some bills with large balances may get a payment every week such as DW Amex card. Except for 0% we tend to pif

[MakingProgress]

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@OmarR wrote:

Also, I am in the minority, but I don't enter my debit card/checking account info into ANYONE'S database, whether it be pizzahut.com or mycreditcard.com. No one is 100% hackproof. Autopay does save a lot of people, but autopay and pull payments are not for me. To each their own.

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Your bank can be Hacked just like any other computer system even if you don't use online access your bank stores your account infromation on computers and can be hacked. 

[MakingProgress]

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@Anonymous wrote:

I never used the Bill Pay feature of a bank/brokerage, it always seemed like such a pointless feature to me.  Why don't people just mail the check themselves?

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1. I have to pay for check printing.

2. I have to pay for postage. 

[OmarR]

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@MakingProgress wrote:

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@OmarR wrote:

Also, I am in the minority, but I don't enter my debit card/checking account info into ANYONE'S database, whether it be pizzahut.com or mycreditcard.com. No one is 100% hackproof. Autopay does save a lot of people, but autopay and pull payments are not for me. To each their own.

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Your bank can be Hacked just like any other computer system even if you don't use online access your bank stores your account infromation on computers and can be hacked. 

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Yeah, I know....that's why I wrote that no one is 100% hackproof.

I am not going to keep my money in my mattress and I am not going to improve my odds at getting hacked by entering my checking account information in as many  databases as I come across.

 I don't understand your point.