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Old 09-11-2020, 07:42 PM   #61
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Only auto pay I do is auto and homeowner's insurance--on a credit card. At least on the credit card, I have rights of chargeback.

I would never do auto pay on any ATM card attached to my checking account.
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Old 09-11-2020, 07:53 PM   #62
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Originally Posted by OldShooter View Post
At Schwab, they first hit any cash in my brokerage account if I overdraw checking, then they hit a $10K credit line ... No fees involved although IIRC the credit line interest is no bargain.

Some banks are now charging an exorbitant fee for accessing an overdraft credit line, like $35. IIRC Wells is among them,
At Alliant CU you can set a savings account as source of funds to cover a checking account overdraft. No fee, and of course you pay no interest. Because it isn't a loan.

The thing I always worry about for autopay is having to keep a safety buffer in the checking account--which earns no interest. so I keep as little as possible in the checking account.
That was better when the savings account paid 2% instead of the current 0.75% 0.65%, but 0.75% 0.65% is better than 0.25% the checking pays.
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Old 09-11-2020, 08:28 PM   #63
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I'm all for simplifying our finances. If I could I would put all credit cards and Verizon and Medicare on auto payments. DW does all the bill paying and is leery, loss of control she says. From what I see you have control by way of email notification of upcoming debits or charges.
Was wondering if folks on FIRE use auto pay? Any concerns?

Thanks
Only problem I had with autopay is changing it or stopping it quickly. Specifically WowWay jacked up their prices without warning and I couldn’t stop it.
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Old 09-12-2020, 01:31 AM   #64
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Call me old fashioned (I call myself old fashioned). In addition to my tag line, I am concerned about mistakes being made which would be difficult to unwind. I certainly see the advantages of auto pay. Risk vs benefit comes to mind but YMMV.
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Old 09-12-2020, 05:50 AM   #65
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Auto Pay

I have an unusual situation that I see hasn't been addressed yet. I am retired and my husband still works. I have always been responsible for paying the bills monthly. My husband doesn't use computers and refuses to learn. Never has wanted to be involved with the monthly bill-paying experience. I would love to switch everything to CC and autopay each month. My concern is that if I pass before he does he would have no idea what is due or when. Are any solutions available for this? Unfortunately, he has no interest in learning to use the computer. It would make life simpler if I could switch everything to CC and have it set up to autopay from my checking each month. Would appreciate any insights or thoughts on this.
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Old 09-12-2020, 05:54 AM   #66
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I have an unusual situation that I see hasn't been addressed yet. I am retired and my husband still works. I have always been responsible for paying the bills monthly. My husband doesn't use computers and refuses to learn. Never has wanted to be involved with the monthly bill-paying experience. I would love to switch everything to CC and autopay each month. My concern is that if I pass before he does he would have no idea what is due or when. Are any solutions available for this? Unfortunately, he has no interest in learning to use the computer. It would make life simpler if I could switch everything to CC and have it set up to autopay from my checking each month. Would appreciate any insights or thoughts on this.

If he doesn't want to be involved Just do it!
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Old 09-12-2020, 05:59 AM   #67
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My husband doesn't use computers and refuses to learn.
I have a couple of older neighbors who are the same way, and they do just fine. It will probably cost an extra buck or two each month to get a paper bill, and there is the cost of a stamp to mail a check in for payment, but those are small issues.
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Old 09-12-2020, 08:52 AM   #68
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I just paid our annual property taxes using a CC thanks to Covid-19. The state has waived all charges this year, so I grabbed the points - lots!
Hope my tax collector will let me use CC to pay too ! Points!
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Old 09-12-2020, 09:53 AM   #69
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Originally Posted by maingram View Post
I have an unusual situation that I see hasn't been addressed yet. I am retired and my husband still works. I have always been responsible for paying the bills monthly. My husband doesn't use computers and refuses to learn. Never has wanted to be involved with the monthly bill-paying experience. I would love to switch everything to CC and autopay each month. My concern is that if I pass before he does he would have no idea what is due or when. Are any solutions available for this? Unfortunately, he has no interest in learning to use the computer. It would make life simpler if I could switch everything to CC and have it set up to autopay from my checking each month. Would appreciate any insights or thoughts on this.


I don’t think your situation is unusual at all. My situation is nearly identical and I know DW will “figure it out” if I’m not around. I am more concerned with leaving a paper trail for assets than getting bills paid. One thing I do is maintain paper bills by mail as much as possible in addition to getting statements via email or ebill.
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Old 09-12-2020, 10:08 AM   #70
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Originally Posted by maingram View Post
I have an unusual situation that I see hasn't been addressed yet. I am retired and my husband still works. I have always been responsible for paying the bills monthly. My husband doesn't use computers and refuses to learn. Never has wanted to be involved with the monthly bill-paying experience. I would love to switch everything to CC and autopay each month. My concern is that if I pass before he does he would have no idea what is due or when. Are any solutions available for this? Unfortunately, he has no interest in learning to use the computer. It would make life simpler if I could switch everything to CC and have it set up to autopay from my checking each month. Would appreciate any insights or thoughts on this.
I have a similar situation. DH is computer savvy, but he just doesn't like auto pay.

What I have done is:
1) Create a bookmarks folder on my computer with a link to every login page for something I've set to auto charge to a CC or auto pull from a checking account
2) Print out a document that has:
- instructions that say "do not report my death to any bank or credit card issuer until all the following autopay bills have been updated"
- my windows password
- directions to find the bookmarks folder in Chrome
- a list that has columns for bill name, login name, password, payment account
3) Show DH and DD the document and then put it with our wills/trust documents
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Old 09-12-2020, 10:45 AM   #71
Thinks s/he gets paid by the post
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I have been transitioning to online bill pay since Mrs Scrapr passed last year. She paid everything by check. And recorded all payments in a ledger. She could go back & find misapplied payments very easily in her ledger. This helped us several times. Mostly mortgage companies iirc.

So I have gradually transitioned over. I go directly to the providers site & pay there. I have not had the 'guts' to auto pay. But I'm sure that is coming. I set a Google calendar notification. Then some providers will send out a email as well. I missed the internet people a couple months ago so my method is not fool proof. I'll be moving in a couple months so will need to set up a few new accounts.

Is there an advantage to bill pay from the bank site vs the provider site?
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Old 09-12-2020, 10:57 AM   #72
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I have been transitioning to online bill pay since Mrs Scrapr passed last year. She paid everything by check. And recorded all payments in a ledger. She could go back & find misapplied payments very easily in her ledger. This helped us several times. Mostly mortgage companies iirc.

So I have gradually transitioned over. I go directly to the providers site & pay there. I have not had the 'guts' to auto pay. But I'm sure that is coming. I set a Google calendar notification. Then some providers will send out a email as well. I missed the internet people a couple months ago so my method is not fool proof. I'll be moving in a couple months so will need to set up a few new accounts.

Is there an advantage to bill pay from the bank site vs the provider site?
I use the provider's site for autopay, especially if the amount changes from month to month. The provider knows how much is due so they can make sure the right amount is taken from my bank.

My one autopay done through my bank's website is for my co-op's monthly maintenance, an amount which very rarely changes within a calendar year. If I pay it through another electronic means, I am subject to a fee.

Other one-time bills such as car/home insurance, estimated income taxes, and medical bills I do through the provider's site, when possible. My CC bill I do through my bank's website because the CC is from the same bank as my checking account is (i.e. I have no choice).
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Old 09-12-2020, 11:03 AM   #73
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Is there an advantage to bill pay from the bank site vs the provider site?


I feel like I have more control by pushing payments from my BOA checking account. Everything is centralized so I don’t have to go to a bunch of websites and keep all those IDs and passwords. Their billpay is excellent. They have ebill for many accounts. The monthly billing notice shows up on my BOA Online Banking account with a link to the billers website with statement image. You can choose auto pay minimum, statement balance, other amount or manually authorize that months payment. If my account is hacked, I don’t have to go to all those websites to cancel autopay.
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Old 09-12-2020, 11:25 AM   #74
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I feel like I have more control by pushing payments from my BOA checking account. Everything is centralized so I don’t have to go to a bunch of websites and keep all those IDs and passwords. Their billpay is excellent. They have ebill for many accounts. The monthly billing notice shows up on my BOA Online Banking account with a link to the billers website with statement image. You can choose auto pay minimum, statement balance, other amount or manually authorize that months payment. If my account is hacked, I don’t have to go to all those websites to cancel autopay.
My CC was compromised last month. It was fairly easy to switch over accounts to the new card. I am all in on Google/Chrome so that makes it fairly easy. Go to the providers site, set up new payment type, 1 click & card number comes up. I feel just a little bit better about being able to push the payment. I have control issues I guess. LOL

I haven't travelled since taking over the bills so that may swap to auto pay if we ever travel again. Of course my system with calendar alerts would work on the road. It might hang up if the site flags a foreign location though

I also stay away from mega banks. B of A was awful in settling Dad's account on his passing 2 years ago. IMO it was intentional in stretching out closing of the account. And my Sister in Law was handling all that. I would only hear the stories
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Old 09-12-2020, 01:58 PM   #75
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I would love to switch everything to CC and autopay each month. My concern is that if I pass before he does he would have no idea what is due or when. Are any solutions available for this?
There was a lady in Pontiac Mich who died in 2009 and her body wasn't discovered until 2014 apparently partially due to auto pay of bills. I think a live spouse could deal with autopay. What I do every month is pretty much look at the payment email.

https://www.cnn.com/2014/03/07/us/mi...und/index.html
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Old 09-12-2020, 02:11 PM   #76
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There was a lady in Pontiac Mich who died in 2009 and her body wasn't discovered until 2014 apparently partially due to auto pay of bills. I think a live spouse could deal with autopay. What I do every month is pretty much look at the payment email.

https://www.cnn.com/2014/03/07/us/mi...und/index.html
It's quite a stretch to attribute the lack of discovery to autopay in any significant way. I've mowed my neighbor's lawn a few times when I thought they were unable to do it but I think I'd poke around a bit more before 5 years went by.
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Old 09-12-2020, 04:08 PM   #77
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Everything is on autopay via my Amazon card, which I pay off right after the bill arrives. Just got $120 to use on Amazon last month. We get text notifications days before a payment hits the card, in case there’s an issue to be resolved. I love it.
FYI (and off-topic), it's financially better to get the $120 in cash from the credit card company (Chase). Amazon won't give you the 5% bonus if you spend the bucks directly on Amazon when shopping.
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Old 09-13-2020, 07:16 AM   #78
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I autopay everything that I'm able. What gives me confidence is that all my accounts are connected to Quicken so I can see the amounts due at least a couple of weeks in advance when the statements are posted and can plan to have adequate funds available in the checking account. Without that connection I would have to have a much larger balance in a non-interest bearing credit union checking account.
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Old 09-13-2020, 07:58 AM   #79
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I autopay everything that I'm able. What gives me confidence is that all my accounts are connected to Quicken so I can see the amounts due at least a couple of weeks in advance when the statements are posted and can plan to have adequate funds available in the checking account. Without that connection I would have to have a much larger balance in a non-interest bearing credit union checking account.
prob good to continue the monitoring of upcoming payments...........perhaps as a backup you might check your CU to see if they have personal lines of credit.
At my CU you can get up to 10K LOC.......no fees unless you overdraft and then the only cost is the interest for the days you are using the LOC. Reminds me I should check to see whether the full amount is invoked or just the overdraft amount.
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