[ggcsquicksig] Re: On-line Bill Pays
- From: "Ernie Pitz" <guidop6@xxxxxxxxxxx>
- To: <ggcsquicksig@xxxxxxxxxxxxx>
- Date: Sun, 17 Aug 2014 15:23:22 -0700
Dear Babette and GGCS Quicken SIG,
Your reply was concise, clear and as complete as I could have
wished for.
It completely and fully answered my question and more
and I'm delighted and enlightened with your knowledge.
Better than Goggle,
Ernie
PS - As a preminition (sp), I have had Online Bill Pay, probably from
WF for $ 3 / month for years, but perhaps due to a slipup on my part,
started to be billed $ 9.95/month - Quicken Bill Pay? , but I just,
hopefully
canceled it. My fingers are crossed
From: ggcsquicksig-bounce@xxxxxxxxxxxxx
[mailto:ggcsquicksig-bounce@xxxxxxxxxxxxx] On Behalf Of Babette Bloch
Sent: Saturday, August 16, 2014 2:00 PM
To: ggcsquicksig@xxxxxxxxxxxxx
Subject: [ggcsquicksig] Re: On-line Bill Pays
Bill Pay is a method of paying bills through a third party (such as a bank),
which either sends the payment electronically or by mail for you.
1 Bill Pay from a Bank with which you have an account, such as, in your
case, Wells Fargo, in mine, Bank of America.
A. You set up a list of payees with the bank on the bank's web site
(using On Line Banking at that bank), and each month go to the bank's Bill
Pay web page, sign in and type in amount to be paid and date you want it
paid to each payee you are paying that month.
If the payee is big, like PGE, department stores, credit cards,
the payment probably will go out electronically. If it is a small payee,
like your doctor or dentist, or a gardener, the payment will be mailed, just
as if you wrote the check yourself and mailed it. Therefore, with payments
that go out by mail, be sure to leave enough time for delivery.
Some banks charge a monthly fee for using Bill Pay. Even if
they do not make a charge, you do not pay for the postage of any mailed
checks. Depending on how many payments you make a month, the postage you
save on all payments (assuming you would have mailed the payments to PGE,
etc), might be greater than the bank's charge for Bill Pay.
B. Many banks allow you to send the Bill Pay payment orders from
within Quicken, without having to go to their sites. Some banks that don't
charge for using Bill Pay from their On Line Banking web page at the bank
site do charge if you send it from Quicken.
I DON'T KNOW WHETHER WELLS FARGO CHARGES YOU FOR BILL PAY EVEN IF
YOU USE IT BY LOGGING ON TO THEIR SITE, OR ONLY IF YOU USE IT FROM WITHIN
QUICKEN, OR WHETHER THEY CHARGE MORE FOR USING IT FROM WITHIN QUICKEN THAN
IF YOU WENT TO THEIR WEB SITE.
WELLS FARGO HAS A COMPLETE DESCRIPTION OF USING QUICKEN AND BILL PAY WITH
THEM AT:
https://www.wellsfargo.com/help/faqs/quicken/
It says there that they charge $3 per month for on-line banking with
Quicken (which I assume is a charge for downloading transactions from your
WF accounts into Quicken) and $9.95 a month for both the downloads and Bill
Pay through Quicken.
From this it seems to me your should NOT be charged BOTH $3 and
$9.95 per month by Wells Fargo...just one or the other.
However, I didn't dig deeper to find out if they charge anything for
Bill Pay directly from their site.
C. In addition Quicken itself offers a Bill Pay service for which
they charge $9.95 a month.
If you use the Quicken Bill Pay, you can authorize the payment from
any bank account you register with them for such payments. (I have never
used Quicken Bill Pay, so I am not familiar with the details of its use.
Some descriptions here:
http://quicken.intuit.com/personal-finance-tools/online-bill-pay-software.js
p
http://bill-paying-services-review.toptenreviews.com/quicken-bill-pay-review
.html
If you signed up for Quicken's Bill Pay service AND you downloaded
from Wells Fargo you'd get hit for both the $3 from WF and the $9.95 from
Quicken Bill Pay!
Quicken started offering Bill Pay a long time ago when very few banks
offered it, or charged for it. Now, with most banks offering it and many
for free, I see no reason for the Quicken Service, unless someone is
switching from one bank's checking or MM account to another to pay bills.
Hope this helps.
Babette
On Sat, 16 Aug 2014 11:41:37 -0700 "Ernie Pitz" <guidop6@xxxxxxxxxxx>
writes:
I need to know the difference between the 2 Online Bill Pays, Quicken and
Wells Fargo.
What's the difference and are both needed?
How can I tell which I have. I do know that I have one, maybe both.
I believe I have Wells Fargo @ $3/ month and might have Quicken
at $ 9.95 /month.
As you can tell, I'm confused and should know, but don't.
If you can enlighten me, please do.
Ernie
383-8143
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