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Re: Best Money Market Account Available today?
Old 08-29-2005, 01:51 PM   #21
 
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Re: Best Money Market Account Available today?

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I generally don't use fixed monthly payments on Bills that vary, because all of the utilities here set you up on 'budget plan', which means you pay them a lot more up front and then they give it back to you at the end of the year. - aka - 'Free loan'.
Well, what I do is a little different.* The merchant (e.g. Electric Company) doesn't do anything special, they aren't even involved.* That is, no special program.* I just look at my last year's bills, and figure out what the average is, let's say $61 per month.* Then I send in a one time payment of, say, $50.* Now I have a 50 credit on my electric bill.* *That's my buffer in case the bill is larger than the average.

Then I set up Quicken to send $60 per month to the electric company.* If my bill is actually $65 for that month, then the next month I'll have a $45 credit.* If the bill is $55, I'll have a $55 credit.

The downside is that I've got about $50 tied up and not generating interest.* About $2 per year.

The upside is that all payments are on autopilot.* I just look at the credit balance once in a while to check that it isn't getting to large or small.* Each bill only takes about 10 seconds of work.
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Re: Best Money Market Account Available today?
Old 08-29-2005, 08:58 PM   #22
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Re: Best Money Market Account Available today?

Have you ever tried to stop your atomatic payment through Quicken? I did this years ago, but had a real hard time cancelling it. Had to call tech support and they said their was a problem with it. Perhaps it is better now, but just curious if you have tried to stop it.
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Re: Best Money Market Account Available today?
Old 08-30-2005, 10:20 AM   #23
 
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Re: Best Money Market Account Available today?

Yes, I've had problems deleting recurring payments.* I think they've fixed this, since it's been working lately.* Here are my notes on how to do it (that is, work around the bug):

PROBLEM:

Can't delete recurring payments.

SOLUTION:

It may work fine to just delete the repeating payment, but if not...

1. Go to Quickenbillpay.com and stop the payment, choosing to cancel the recurring series.

2. In the quicken recurring payments, select the recurring payment, right click on it, hold down ctrl and click the "Delete" option.* It will warn that that is something you should only do on advice of tech support, but it is OK.

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Re: Best Money Market Account Available today?
Old 08-30-2005, 07:01 PM   #24
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Re: Best Money Market Account Available today?

I looked at Quicken Billpay, but didn't like the monthly fee(9.95 mo). Schwab has a bill pay service that is free if you have a $100k account with them. I think that WAMU offers free bill pay too.
I do use Quicken to keep track of things, but I won't do business with any instituion that doesn't support download. Likewise, I like Schwab's moneylink service that lets me plug money overnight either into or out of my WAMU account. It's no fun taking that check you need to pay your bills from a money market mutual fund to the bank and being told that they are holding the funds for five days. So, Schwabs linked MMF pays only 2.82%, but the bill pay is free, and it all downloads into Quicken. Having most stuff in one place is very convienient, as long as you can get the investment products you need, lots of services, and don't pay any fees.
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Re: Best Money Market Account Available today?
Old 08-30-2005, 07:12 PM   #25
 
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Re: Best Money Market Account Available today?

You've made me realize there may be cheaper alternatives to QuickenBillPay. I'll be looking into that. Thanks.
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Re: Best Money Market Account Available today?
Old 08-30-2005, 09:01 PM   #26
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Re: Best Money Market Account Available today?

I just looked at the wells fargo site, and you can get free bill pay with their checking and a $2000 balance. I wonder who else can tell us about a great deal for free checking, and free billpay?
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Re: Best Money Market Account Available today?
Old 08-31-2005, 02:44 PM   #27
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Re: Best Money Market Account Available today?

State Employees' Credit Union (in NC) has free billpay (up to 20/month I think). No minimum balance. The account has a $1/month fee, but it pays 0.75% interest.

Unfortunately, you have to be related to a member or be an NC state employee to qualify for membership
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Re: Best Money Market Account Available today?
Old 08-31-2005, 03:03 PM   #28
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Re: Best Money Market Account Available today?

My bill pay through my local credit union is also free. Citibank has a ez checking and with 1500 min. balance the bill pay is free. They had been offering 100 bucks to try it. They also have a savings account that you can link to it yielding over 3% So not a bad deal overall. I am trying virtual bank right now and it seems ok, like ING, you can transfer money to your local account. Most of these, you can get a bonus for starting (30-50 bucks usually).
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Re: Best Money Market Account Available today?
Old 09-01-2005, 10:23 AM   #29
 
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Re: Best Money Market Account Available today?

Bill pay through my bank is $4.95/month, but does not support Quicken. I think I'll just stay with QuickenBillPay for now.
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Re: Best Money Market Account Available today?
Old 09-01-2005, 10:26 AM   #30
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Re: Best Money Market Account Available today?

E*Trade Bank - Free on line bill pay.
Current money market account interest 3.52%
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Re: Best Money Market Account Available today?
Old 09-02-2005, 09:34 PM   #31
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Re: Best Money Market Account Available today?

I have used the Bank of Internet for 2 years and it is great.* Up to 20 free bills /month (can be automated).* I also have a Money Market account with them, and it is set up that it auto feeds money to the checking account if you over-draw.* However the interest rate on the checking account these past weeks (months?) has been 3% while the MM account is 2.6% so I've transferred the cash to the checking account. (Transfers between the accounts are easy and can be automated, so I used to have the bills autopayed out of the checking account, but auto transfer the money from the MM account the day before).

Details can be obtained below

http://www.bankofinternet.com/billpay/default.asp
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Re: Best Money Market Account Available today?
Old 09-03-2005, 09:07 PM   #32
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Re: Best Money Market Account Available today?

I use Wells Fargo checking to pay all my bills electronically (bill pay) and others automatically like my Visa. I have my savings in ING and have an auto transfer each month back to my checking account to be sure the funds will be there when needed. Pretty much autopilot except for certain items I have to write checks out for...such as my lawn service.
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