In setting up bill pay, what id the difference between Quicken Bill Pay and Bank Bill Pay?
Bill Pay
Dec 20, 2005
13 Replies
Functionally, they are the same. But I didn't want to be tied to one particular bank for all time.
On Tue 20 Dec 2005 08:32:37a, GrayFox wrote in news:jayww35- snipped-for-privacy@comcast.dca.giganews.com:
A big non-functional difference is one is oft times free, the other never is free (but does have free "product placement" built into Quicken). (Sometimes one will even guarantee to all of their customers that have paid their $0 fee, that their payment will always get there on time.)
One bank said they wouldn't charge for their BillPay if I kept something like $20K in their bank. AND, they were talking about their web-based BillPay. Using Quicken is soooo much easier even though it does cost $9.95/mo.
Hibernia bank has no min and charges no fee for bill pay, been using for 3 years with no problem.
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On Tue 20 Dec 2005 12:04:28p, alpha© wrote in news: snipped-for-privacy@4ax.com:
Same with our accounts at NationalCity Bank and Chase (formerly Bank One).
Mike L said
Ditto Chase (Bankone). It's seamless with DirectConnect.
That price seems awfully high. My bank (ETrade) does not charge for BillPay.
Citibank gives you free Quicken Bill with a min balance of $10K Bank of America in California gives you free Quicken Bill with a min balance of $10K HSBC no balance requirement at all.
Now it seens every bank implement there Quicken integration differntly. Citibank debits the money from your account on the due date and it does not matter if the payment is made by EFT or bank check which they mail
5 bussiness day prior to the due date. Bank of America debit the money on the process date which is 3 days early no matter what they dont seem to care if payment is made by check or EFT. HSBC debits payments on the process date also but the process date for EFT is 3 days prior and for check payments it is 5 days prior.
Wachovia says they don't charge, but if you are a new customer they will not let you use Quicken to pay bills. You MUST use their on line web based bill pay "feature". I've been fighting with them for weeks. I am not allowed a feature that is discussed on their web page, has many help files for Quicken and is available to old customers. The information on their web page is one reason I moved my account. It seems now I'll have to move it again.
Interesting. I moved my accounts from Chase in Texas because they started charging me $9.95 per month to pay bills via Quicken.
I moved to Wachovia because they told me it was free to do that and then I found out you can download transactions but can't pay bills thru Quicken. They say that in February, that will be possible. I'll give them that long and see what happens.
It's such a pain to have to enter everything twice, once in Quicken and then on the Bank's website.
GrayFox said
Perhaps this is Chase's policy.... and soon to be policy for us BankOne-to-Chase refugees? Hope not.
Can't you just enter the checks via the website, then download transactions into Quicken?
Maybe so, but I was always a Chase customer, and they never charged me. It was only after the merger that thry started.
Yup! However, I prefer to always know my balance since I sometimes hand write and mail checks.
Don't give up GrayFox. Next week I am suppose to get in touch with someone who will put me in touch with someone in tech support who, I am told, will walk me through the 80 steps to do what you and I want to do. Yes, that is right. I was told it was an 80 step process to see if my version of Quicken and my computer can do what use to be a very simple task. My advice, taken from another thread, is to keep calling up the food chain until you get someone who can and will help you.
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