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Bill Paying, What Is Your Preference


Texsox

  

25 members have voted

  1. 1. How do you like to pay your bills?

    • Cash
      0
    • Push _ Set up with Bank, Push payments to bill
      13
    • Pull _ Set up with creditor, they pull from account
      10
    • In Person, Bill Pay Centers
      0
    • Mail a Check
      2


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QUOTE (Steve9347 @ Jan 16, 2012 -> 06:34 PM)
If they have one day turnaround, pay through bank. If not, go through direct website. If neither has the option, forget to mail check, get pissed.

 

You should have made it multiple choice, in other words. :lolhitting

 

This...except I'll give them a 2-day window (which right now covers all my bills).

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QUOTE (Balta1701 @ Jan 16, 2012 -> 09:18 PM)
Everything onto a credit card. Credit cards paid in full once a month from bank account online.

 

I used to do this, both for convenience and to maximize credit-card airline miles. I learned the hard way that you really have to be extra diligent in checking your bills for accuracy before they get put on the card, because once they do, you lose leverage in a billing dispute. Now I only do that with payments that I know will be the same amount every month, like my gym membership.

Edited by PlaySumFnJurny
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QUOTE (Balta1701 @ Jan 16, 2012 -> 09:18 PM)
Everything onto a credit card. Credit cards paid in full once a month from bank account online.

Me as well. Auto-pay everything possible, put as much on the credit card as possible (the rest auto-bill to checking). The credit card is then set to auto-pay once a month the full balance on due date from checking.

 

I rarely have to actively pay a bill.

 

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QUOTE (NorthSideSox72 @ Jan 17, 2012 -> 10:12 AM)
Me as well. Auto-pay everything possible, put as much on the credit card as possible (the rest auto-bill to checking). The credit card is then set to auto-pay once a month the full balance on due date from checking.

 

I rarely have to actively pay a bill.

I don't auto-pay the credit cards, it gives me a reason to check to make sure statements are accurate every month.

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QUOTE (southsider2k5 @ Jan 17, 2012 -> 09:14 AM)
Log on to company websites if at all possible. As few auto debits as possible.

 

Why?

 

QUOTE (Balta1701 @ Jan 17, 2012 -> 09:15 AM)
I don't auto-pay the credit cards, it gives me a reason to check to make sure statements are accurate every month.

 

I use financial software and download/track everything. I see transactions come in as they clear. So I review every transaction that hits every account, even if at just a cursory level. Auto-pay just means one less step for me each month.

 

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QUOTE (NorthSideSox72 @ Jan 17, 2012 -> 10:46 AM)
Why?

 

 

 

I use financial software and download/track everything. I see transactions come in as they clear. So I review every transaction that hits every account, even if at just a cursory level. Auto-pay just means one less step for me each month.

 

I want as little connection between my information as possible. If one thing gets hacked, all of my info won't be compromised. I also like to review all of the accounts individually.

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QUOTE (southsider2k5 @ Jan 17, 2012 -> 10:48 AM)
I want as little connection between my information as possible. If one thing gets hacked, all of my info won't be compromised. I also like to review all of the accounts individually.

I'm not sure how you are breaking any connections there. Auto-debit or one-time debit, that account info is in their system now.

 

Which by the way is also a reason to use the credit card (when you can) instead of the checking account. Replacing a compromised credit card is a pain, but it pales in comparison to the nightmare of money being taken of your bank account and trying to make that change.

 

But I see what you are saying about putting in that manual review step. I do it via financial software every few days across all accounts... you do it once a month focused on each account. Either way, the review is valuable.

 

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Mortgages: Manually pay them online every month so I can set the exact date and maybe add extra principal

 

Utilites: Auto-deduct from checking (don't allow credit cards), but I still have them mail me a paper bill every month so i can make sure I don't get some crazy dediction

 

Everything else: Auto-pay from my AA credit cards for the miles, pay it online every month. If I do need to mail a check, I use the B of A bill-pay which automatically mails it for you for free

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QUOTE (NorthSideSox72 @ Jan 17, 2012 -> 09:12 AM)
Me as well. Auto-pay everything possible, put as much on the credit card as possible (the rest auto-bill to checking). The credit card is then set to auto-pay once a month the full balance on due date from checking.

 

I rarely have to actively pay a bill.

 

This is the way I set it up. Have to manually pay a couple of bills through the bank website, but almost everything is auto.

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QUOTE (NorthSideSox72 @ Jan 17, 2012 -> 10:46 AM)
I use financial software and download/track everything. I see transactions come in as they clear. So I review every transaction that hits every account, even if at just a cursory level. Auto-pay just means one less step for me each month.

 

I update Quicken on almost a daily basis. Works great for tracking spending by category as well as overall cashflow levels.

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QUOTE (NorthSideSox72 @ Jan 17, 2012 -> 11:51 AM)
I'm not sure how you are breaking any connections there. Auto-debit or one-time debit, that account info is in their system now.

 

Which by the way is also a reason to use the credit card (when you can) instead of the checking account. Replacing a compromised credit card is a pain, but it pales in comparison to the nightmare of money being taken of your bank account and trying to make that change.

 

But I see what you are saying about putting in that manual review step. I do it via financial software every few days across all accounts... you do it once a month focused on each account. Either way, the review is valuable.

The other big thing is that if a Credit Card gets compromised, it's the banks money that is being stolen. They can try to get it from you, but they're going to do whatever they can to make sure it doesn't get stolen from them in the first place. If your money gets stolen from your bank account, yeah they kinda care, but they're not liable for the losses.

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