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Nervously awaiting automatic bill payment


MickinMD

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My gas & electric bill is due today and should automatically come out of my checking account. I'm nervously waiting to see that it does.

In January my local gas & electric company, BGE, did not automatically take my monthly payment ($366.05) out of my checking account as it had done for decades without fail.

A few days later I got my bill for February of $701.27:  $329.75 for the latest month, $366.05 for the previous month and a $5.47 late fee.

Since then I've had a phone call (33 minute wait to get a live person), where I learned BGE had a software problem, to get the $5.47 removed - which won't be done until my march bill because of the way their billing's set up.

I later got a "REMINDER NOTICE: Our records show your bill is now overdue" which I hope is just due to their software programming.

So I'm looking at my checking account total online - it may not show up for a day or so, hoping to see the payment show up so I don't need to wait up to an hour to speak to a phone rep.

 

 

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I use auto pay for anything that is the same amount every time. Anything that has the possibility of a large amount of change I pay online each time. I have heard too many horror stories of people getting a utility bill that was an enormous mistake ($1,500 instead of the normal $150). Once they take the money you have to fight them to get it back and if it causes an overdraft you have more trouble. 

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Why be nervous?  If it is a mistake, they will fix it.  That size of an energy bill would make me nervous.  This is more than I pay for all the monthly utilities in our home (gas,electric, 2 cell phones, garbage, water and Netflix).

Auto payment sucks, unless you travel extensively and need to prevent late bills. I like to pay things myself. 

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2 minutes ago, Dirtyhip said:

Auto payment sucks, unless you travel extensively and need to prevent late bills. I like to pay things myself. 

Yup.  I have almost everything go to my credit card and I can manage that easily online.  It also gives me a small amount of cash back at no added cost.   :) 

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2 minutes ago, Dirtyhip said:

Why be nervous?  If it is a mistake, they will fix it.  That size of an energy bill would make me nervous.  This is more than I pay for all the monthly utilities in our home (gas,electric, 2 cell phones, garbage, water and Netflix).

Auto payment sucks, unless you travel extensively and need to prevent late bills. I like to pay things myself. 

While to bank is OK, link them up to credit card that you get rewards for instead, then pay off the credit card balance each month. I do it manually with credit card link to bank checking rather than mail.

I had my $99 T-Mobile bill going to my Best Buy card where amazingly all credit purchases count towards the $3500/yr to maintain their top "Premier" status plus give a cash back even though not bought at Best Buy. Then first of the year, Sams Club upped the ante with paying phone bill on their card pays up to $600 stolen/damaged insurance on the phones.

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Just now, Tizeye said:

While to bank is OK, link them up to credit card that you get rewards for instead, then pay off the credit card balance each month. I do it manually with credit card link to bank checking rather than mail.

I had my $99 T-Mobile bill going to my Best Buy card where amazingly all credit purchases count towards the $3500/yr to maintain their top "Premier" status plus give a cash back even though not bought at Best Buy. Then first of the year, Sams Club upped the ante with paying phone bill on their card pays up to $600 stolen/damaged insurance on the phones.

We do this, except for companies that will not allow it, or tack on fees for it.

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6 minutes ago, Dirtyhip said:

Some of the companies do not allow it.  We take advantage of the ones that do.

Duke Power is that way as they apparently outsource electronic payment who charge a $1.35 fee, even for ACH from bank checking account. Those I mail in the old fashion way as a stamp is cheaper.

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Just now, Tizeye said:

Duke Power is that way as they apparently outsource electronic payment who charge a $1.345 fee, even for ACH from bank checking account. Those I mail in the old fashion way.

Online bill pay is fantastic.  My trading account is excellent for cash management.  They pay interest too.  It isn't much, but I do like the idea of them paying for my lunch once a month.

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1 hour ago, 2Far said:

Wo2 has us on a modified budget payment plan. Sends them the same every month and when the balances goes over whatever threshold she has deemed appropriate, she skips a month. It works for her, I'm not involved, the lights stay on & the furnace/AC works. I'm good.

I mean, between Bill Pay and the online accounts and the Apps, I can't remember the last time I sent a check anywhere. I wrote one about 2 years ago at the DMV, but I have not sent one in many years.

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1 hour ago, bikeman564™ said:

I never use auto bill pay. I want control of what goes out & when.

I always know what my auto bills are and when they'll be collected and can reasonably estimate that the beginning of the month what variable ones will be - and I get the exact amount at least 2 weeks before they're due,

So I always auto-pay but I know when to check to make sure the right amount came out, etc.  This BGE mistake is extremely unusual.

I have a spreadsheet with a cell in each month's column for what's going to come out of my checking account during the month so I know how much I need to have in my checking account at any given time. It reads something like: =30.95+217.62 +50 +50 +25 +329.75 +25 + 41 with a comment to the cell that includes "=30.95+217.62 +50 +50 +25 +329.75 +25 + 41est ~ 770" and "1st to to 14th: $217.62 + 50 + 50 = $317.62 ($348.57 in water bill [$30.95 months 2, 5, 8, 11)." - the last is there because my Soc.Sec. check arrives on the 2nd Wed, 8th to 14th, and I always want to have enough in checking to cover bills before it arrives.  There is also a list of of dates in the comment for each of the items that begins

2nd, in months 2, 5, 8, 11: $30.95 est. Water Bill
6th: $217.62 State Farm Ins. (may show up in online checking on 10th)
8th: $50 investment in Emerson Electric (EMR) - through 2020
9th: $50 investment in General Mills (GIS) - through 2020

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