Book Yoda. Business & Investing.

I paid a bill from my Wells Fargo account for my Capital One credit card for the amt. of $85. It is still pending. I put it in earlier today. When can I expect it to clear and go through?

Would it be faster to pay the C1 bill by going to my C! acct online and hooking up my Wells Fargo acct to it?

Usually, with major banks like Capital One and Wells Fargo, they use electronic transfers through an automated clearing house(ACH), which will take a business day to complete. Chances are, the payment will get there by friday, but won't reflect until Monday

2008-03-19 23:49:23 by C

I pay about 10-15 bills a month at various days of the month. Once in a while, the payment is delayed and once in a while the bill is misplaced or lost. So I am thinking of setting up automatic payment from my checking account.

Do you have any experience with that? How do you like it? What are the pros and cons. I am afraid that some screw up or fraud could dry up my account.

All our bills are automatic. Verizon, Gas everything. I LOVE IT... Be sure to set up the auto payments through each company. You will still get a statement in the mail every month telling you that your payment will come out on such & such date. I use Microsoft Money to keep track of everything. We are a very busy family, so it's really nice not to have to sit down and pay bills. I highly recommend it.

ADD: We've been doing this for several years. We have never had a screw up or fraudulent thing happen. The utility companies are typically very credible.

ADD2: No, don't use web bill pay services. You can set these up with each company. Call Verizon, call Gas company, call Electric company, etc... and set this up. You can still keep track of your money flow the same way you would if you wrote a check. It's really easy. There is no extra charge for ACH payments and you can save on stamps & checks.

2008-09-17 19:10:26 by kenneth h

Does anyone know how to pay my credit card bill online with the bill pay option on the Bank of America Website.Do I transfer funds to the credit card account? Or is there something else I have to do?

Their bill pay online option allows you to put in your back's checking account and routing number so that you can transfer funds to pay off your credit card. If you need assistance setting this up, you can call the customer service number on the back of your credit card, and an advisor will assist you.

2008-02-03 16:08:19 by ty p

Third-Party online bill pay service (not banks) how do they send the ACH files, get the money from the customer, and notify that the bill has been paid? I need as much detail as possible for my Senior research paper for college, I am a finance major.

From my experience, they send the ACH files using systems, or through email as well (it's just a file)... this file is loaded into the system, it brings up how much the customer owes, minus the credits and the invoice is then generated and either emailed out or hardcopy mailed out, and either way, there is an online email that is then generated to be sent to the customer to let them know that money is being debited from their account on a certain day.

2007-02-25 07:42:46 by Craig L

I plan to use my bank's online bill pay feature but I don't want to link it to my accounting software. With checks, it's easy to match the check # during reconciliation. So, I wonder what to match when using online bill pay..

In most bill pay systems, when you pay a bill it gives you a confirmation number. I have label mine BP1, BP2, etc. then in the description, I list who I paid and the confirmation number. This is the easiest way that I've discovered, and since I just returned from an overseas assignment, I've been doing this for almost 4 years.

2007-05-13 19:57:22 by helenna