Q on e-payments

iVillage Member
Registered: 12-12-2004
Q on e-payments
11
Wed, 11-09-2005 - 11:54pm
Hi, everyone. ANother question and debate with DH. I e-pay the car payment online. For this "privilege" the site debits my checking account and charges a $13 fee each month. I say it is worth it, so as not to be late, as one time I couldnt find the statement as the company which handled the car payment was bought out by another. Now, as far as I know, other companies dont charge a "handling" fee for paying on-line. DH says it is a waste of $$$ to do it this way. However, I point out that by paying more online, we're saving stamps, get instant notification that bill has been paid, etc. Anyone have experience with any hidden fees on e-payments? Or comments? Thanks. Whiz.

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iVillage Member
Registered: 11-13-2004
In reply to: whiz2005
Thu, 11-10-2005 - 3:06am
UUUUGH! That sounds like a rip off to me. That's almost $200/year. I have online bill pay through my bank for ALL my bills and it is $6.95/month! I would investigate some cheaper options. Take care.
iVillage Member
Registered: 08-19-2003
In reply to: whiz2005
Thu, 11-10-2005 - 7:34am

Sorry Whiz,

I have to agree with your husband here. The $13 at the end of the year is $156 extra that you could put towards the debt.

I use my online banking. Its free and really easy to use. Then a couple days later I log onto the internet and make sure the payment got to the destination for the important payments, mortgage, auto & credit cards.

Shannon


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iVillage Member
Registered: 03-19-2003
In reply to: whiz2005
Thu, 11-10-2005 - 8:46am

I'm going to have to agree with the others $13/month is rather steep for having the privelege of sending them money.

iVillage Member
Registered: 10-10-2005
In reply to: whiz2005
Thu, 11-10-2005 - 9:17am

Yes that is very steep especially as it is only one payment a month. I pay just about everything through my bank's web-site. I pay $9.95 a month for that privilege but that also allows me to down load all my transactions into Quicken which will hopefully help me track my expenses more closely.

I have an automatic payment set up for my bills that don't vary like the car payment and rent and haven't had a problem with the payment getting to the lender on time. But then I'm starting to get to the point that I micro manage my money.

iVillage Member
Registered: 02-19-2004
In reply to: whiz2005
Thu, 11-10-2005 - 9:28am

I pay almost all my bills online, including my car payment, all for free.

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iVillage Member
Registered: 03-26-2003
In reply to: whiz2005
Thu, 11-10-2005 - 10:57am

$13 a month??!

All my best,
Danni

iVillage Member
Registered: 12-05-2004
In reply to: whiz2005
Thu, 11-10-2005 - 12:03pm

I don't pay any fees for my online payments.

Pat :-D

iVillage Member
Registered: 04-02-2003
In reply to: whiz2005
Thu, 11-10-2005 - 7:44pm
I agree with everyone else. That's way too much and pure profit for the company. It's far cheaper to process an electronic payment than it is a paper check. Dell computers does this. So I make sure to mail the check in plenty of time each month.
iVillage Member
Registered: 12-12-2004
In reply to: whiz2005
Fri, 11-11-2005 - 1:53am
Hi, everyone. I do appreciate the feedback. Of course, I didnt do the math, but was surprised at how it all added up. The way the car payment is set up (yes, they are now sending snail mail payments, too, as backup) is that it is debited from my account, and goes thru paypal. I am going to try and see if they can do the auto debit for free somehow. How did you all set it up on the bank's online banking (just got it a few months ago). ??What I am doing now is going to all the web sites (Discover, Cingular, gas payment, etc.) and paying online by having them debit my account. I figure I can pay them before it is due, without having to worry that it will come out of my account at a certain day each month. Is this OK, or is the other way easier? Thanks WHiz.
iVillage Member
Registered: 02-19-2004
In reply to: whiz2005
Fri, 11-11-2005 - 5:18am

I go to the websites too, but all the one's I use are free (if they aren't free, I don't use them).

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