Quicken 2012 Bill Pay Problem?

I would NEVER, EVER, trust a 3rd party to create/send any cheques for me. I've authorized almost all my creditors to have preauthorization. Since I get their statements PRIOR to the final date on the bill, I have ample time to deal with any errors. However, in TWENTY years of use Preauthorized transactions, there has NEVER been an error. I've saved HUNDREDS of hours not having to deal with stamps, envelopes, 3rd parties, having to go on line to banks, etc. Not to mention hundreds of dollars in NOT having to pay a 3rd party to do what I can also program into my bank account to do. But, hey, if people want to waste their time and money on past century methods, let them, I say!

Agreed - as long as we agree that the bank who holds the account with the money in it is not a third party. :)

I think we've shared our views on this before, so in the spirit of offering a slightly different viewpoint... I would never allow a third party to draft (pull) money from my account, with or without my authorization. That puts the action on me to make sure the transaction is correct and deal with any problems ahead of time.

Instead, I use the free billpay service my bank offers. No, it doesn't integrate with Quicken. I have to go to my bank's web site and enter the payment in by hand, but they do offer one off and recurring payments, and they also have ebilling where some larger billers will transmit the bill total to the bank so I don't have to look it up. I know when I enter the amount that it is the amount I intended to pay.

However, I will conceed that we may be arguing about how many angels can dance on the head of a pin as I doubt there will be many errors with a reputable biller. But it only takes one to mess up a good day...

Most of the benefits you cited apply to either method. As long as you understand the pros and cons of pull or push, you can make your own decision.

Problem with having to go online to one's bank EACH AND EVERY MONTH is just that: in the course of a year, dozens and dozens of transactions have to be logged into the bank's site...no matter how busy you are or how sick you may be feeling. On the other hand, all I have to do is glance over the monthly statements from the various creditors, e.g. power, gas, telephone suppliers, each month and verify for "reasonability". Never, ever any mistakes. Even my VISA bill is debited in its entirety, every month, by auto transfer from checking account. When I think of all the time I USED to spend on bill paying...that I now spend on the net helping fix the world, I smile knowingly!