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Lost Wallet (Credit Card Auto Pays)
Old 10-28-2021, 03:34 PM   #1
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Lost Wallet (Credit Card Auto Pays)

Woke up this morning canít find wallet. Probably in the ocean as we are snorkeling in the keys for awhile.

Anyway we recently got the Venmo credit card which has a physical card and a virtual card. All our auto pays are using the virtual card so great no need to mess with it. New cards on the way via the app. New drivers license on the way via website.

Guess this was not a big deal. Technology is amazing.
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Old 10-28-2021, 03:38 PM   #2
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I am guessing your wallet turned to fish food.

I never did like auto pay. What happens if there is not enough monies in the bank to pay one of these bills?

The bank will charge extra for that.
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Old 10-28-2021, 04:01 PM   #3
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Originally Posted by OneMarcilV View Post
I never did like auto pay. What happens if there is not enough monies in the bank to pay one of these bills?

The bank will charge extra for that.
I use Quicken and have all of my checking/savings/credit cards/monthly bills connected to it. Quicken has a rather nice feature that projects your checking account balance forward in time based on future income and bills. I just look at it, and if any account is going to go negative, I'll see it a few weeks ahead of time. I can then go in and move money from savings or investments to cover the shortfall before it happens.

I've been doing it this way for five years now. I currently have 21 credit cards (for various bonuses and things), and have never bounced a payment. It obviously helps to have autopay set up to pay the full amount on the due date for all the cards.

I also have a central checking account where all my bills are paid from, so I only have to look at one account to make sure it's OK.

Finally, I have a line of credit that, if for some reason I did make a mistake, my checking account would automatically draw from. No overdraft fee, just interest. I'd get an email or alert if this happens, and I could fix it in a few days at the cost of a few dollars in interest.
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Old 10-28-2021, 04:24 PM   #4
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I never did like auto pay. What happens if there is not enough monies in the bank to pay one of these bills?

The bank will charge extra for that.
What happens? The same thing as when there is not enough money in the account and you manual pay. When you get your bill, you make sure there's enough money in the account to cover it. Is that really so difficult?

We have overdraft turned off on our account. If there's not enough money, they reject. No fee for that.

We auto pay everything. Never a late payment. No postage. No effort. Comcast gives us $10/month discount for auto pay and online billing. Our insurance company likewise gives us a discount for auto pay and online billing. Anything which is auto pay, the provider sends an email advising there's a payment coming up, so there's always time to transfer money in to the account if there isn't enough to cover any bills coming due.

Unfortunately, our trash company still mails us our bills and does not have auto pay, no online payment...old family run company. For the last year they've said they will come into the current century (bills are clearly still generated with a dot-matrix printer) with their billing, but as of now, the only option is still to mail a check. Their biggest advancement this year has been to go from billing every other month to quarterly billing. I don't like dealing with it, so I just send them 6 months at a time and let them keep the credit on the account. Thankfully their ancient billing system allows keeping a credit balance.
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Old 10-28-2021, 04:33 PM   #5
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Unfortunately, our trash company still mails us our bills and does not have auto pay, no online payment...old family run company. For the last year they've said they will come into the current century (bills are clearly still generated with a dot-matrix printer) with their billing, but as of now, the only option is still to mail a check. Their biggest advancement this year has been to go from billing every other month to quarterly billing. I don't like dealing with it, so I just send them 6 months at a time and let them keep the credit on the account. Thankfully their ancient billing system allows keeping a credit balance.
Both of my main banks will mail a check for a specified amount on a specified date to a specified payee for free. Doesn't work as well if the trash bill varies, but you could always set it up for a bit more.

I love having everything automated. I'm working on switching over to paperless (where possible) as well.
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Old 10-28-2021, 05:01 PM   #6
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Both of my main banks will mail a check for a specified amount on a specified date to a specified payee for free. Doesn't work as well if the trash bill varies, but you could always set it up for a bit more.
That's exactly what I do. There is one bill that is the same every month, so I just have a recurring payment. Our phone and internet bill at the lake place is "almost" the same every month but varies by a few cents. So I just regularly overpay by fifty cents or something, then every year or so adjust one month's check to eat up the credit that has accumulated.

Re overdrafts, my Schwab checking is set up to draw from our Schwab cash account, then from a small overdraft credit line. No fees for any of that & I consider that we are adequately protected by Schwab's blanket guarantee against fraudulent transactions. I usually keep a grand or so in the account anyway; I don't think I have ever actually had an overdraft.
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Old 10-28-2021, 05:06 PM   #7
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Both of my main banks will mail a check for a specified amount on a specified date to a specified payee for free. Doesn't work as well if the trash bill varies, but you could always set it up for a bit more.



I love having everything automated. I'm working on switching over to paperless (where possible) as well.


Same here. BofA. They print and mail a check and pay the postage. Never had a late pay in many many years.
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Old 10-28-2021, 05:29 PM   #8
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All our bills are on autopay. Except Dept of Water and Power. They used to be but misread the water meter to the tune of $600 or $800. I called them on it and they

re-read and fixed the bill. But still jacked us for the extra money, which was more than enough to cover the next 2 month bill. No money due the following time due to the credit, but I cut them off from autopay.
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Lost Wallet (Credit Card Auto Pays)
Old 10-29-2021, 10:22 AM   #9
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Lost Wallet (Credit Card Auto Pays)

Quote:
Originally Posted by njhowie View Post
What happens? The same thing as when there is not enough money in the account and you manual pay. When you get your bill, you make sure there's enough money in the account to cover it. Is that really so difficult?

We have overdraft turned off on our account. If there's not enough money, they reject. No fee for that.

We auto pay everything. Never a late payment. No postage. No effort. Comcast gives us $10/month discount for auto pay and online billing. Our insurance company likewise gives us a discount for auto pay and online billing. Anything which is auto pay, the provider sends an email advising there's a payment coming up, so there's always time to transfer money in to the account if there isn't enough to cover any bills coming due.

Unfortunately, our trash company still mails us our bills and does not have auto pay, no online payment...old family run company. For the last year they've said they will come into the current century (bills are clearly still generated with a dot-matrix printer) with their billing, but as of now, the only option is still to mail a check. Their biggest advancement this year has been to go from billing every other month to quarterly billing. I don't like dealing with it, so I just send them 6 months at a time and let them keep the credit on the account. Thankfully their ancient billing system allows keeping a credit balance.

But when you manually you have the option to contact the companies you owe that the bill will be paid late.

Like me once I pay me land rent I will have 153 dollars left after that. Will be paying 4 bills late. If I had that auto pay some of those payments would have overdrawn my bank account.

That is when I get my Social Security monies next month.

I pay bills using my computer and print out the payment information.

Before Social Security took out the 2 1/2 moths overpayment I was paying bills on time.

I get regular full payments starting on December.

Then in January the 5.9 percent increase will be great.
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Old 10-29-2021, 12:11 PM   #10
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Woke up this morning canít find wallet. Probably in the ocean as we are snorkeling in the keys for awhile.

.....
You swim with your wallet
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Old 10-29-2021, 12:27 PM   #11
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Originally Posted by njhowie View Post
Unfortunately, our trash company still mails us our bills and does not have auto pay, no online payment...old family run company.
Same here. They still mail out coupon books in December for the upcoming year. Regardless, I still use Schwab bill pay and they mail a physical check with the account number written on it. The trash company says thatís ok but since they donít deposit their checks promptly I still worry once in a while when I donít see it clear.

But like others said, you have to keep an eye on the running balance no matter how itís paid. I love this technology, too.
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Old 10-29-2021, 12:54 PM   #12
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I am guessing your wallet turned to fish food.
Charlie Tuna will finally get his revenge!!!
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Old 10-29-2021, 01:29 PM   #13
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You swim with your wallet
My thought exactly....
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Old 10-29-2021, 02:11 PM   #14
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Same thing happened to me last month. Got home and within an hour had canceled or reordered duplicates online, and then in 5 to 10 days had all the replacements. Then a couple of weeks later I got a notice from the police department that some kind person had turned in the wallet (along with the $6 in cash) so I now have duplicates of a few items.
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Old 10-29-2021, 06:59 PM   #15
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You swim with your wallet

Had to get gas at the boat dock before heading out to the reef. I get so excited I guess I jumped in without checking my pockets.
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Old 10-30-2021, 11:31 AM   #16
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When we traveled with my brother to hawaii a few years ago, he had a waterproof bag type thing he purchased for his wallet when we went snorkeling. Something to look at for the future!
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Old 10-30-2021, 09:27 PM   #17
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Had to get gas at the boat dock before heading out to the reef. I get so excited I guess I jumped in without checking my pockets.

Excited bout getting fuel for your boat?
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Old 10-31-2021, 04:21 AM   #18
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I am guessing your wallet turned to fish food.

I never did like auto pay. What happens if there is not enough monies in the bank to pay one of these bills?

The bank will charge extra for that.
We dedicate one credit card just for autopay, so there is always monies ready to pa the bills. We then pay off the balance each month and never carry the card with us.
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