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1. Friday, January 4, 2013 - 12:18 AM
Paul, I hear ya. That's a common flaw with MANY bank's on line systems. Here's one thing I may recommend for you to try:
On most online bill pay systems, when you type in who you're making your payment to, a "Lightening bolt", or something similar looking will appear next to the companies name. If it DOES show that, then the company is able to accept and process them as credit payments when sent.
However, just as I found out the hard way, not all companies have the on line capabilities of processing on line payments as credit. So when you set the payment up, you won't see the "Lightening bolt." That means the bank debits your account, and mails a check to the company. It's a pain in the arse. I know. But keep in mind, it's not the bank's fault if the company can not accept credit as a payment source. It means the company might be too cheap to spend the extra money for the capability. I would just play around a little bit a try to type different companies in, and see if they accept credit payments. If you can find 12 (or even 6, just make 2 pmts a month to them), then you can reap the higher rates and the returned fees. Best of luck to you.
On most online bill pay systems, when you type in who you're making your payment to, a "Lightening bolt", or something similar looking will appear next to the companies name. If it DOES show that, then the company is able to accept and process them as credit payments when sent.
However, just as I found out the hard way, not all companies have the on line capabilities of processing on line payments as credit. So when you set the payment up, you won't see the "Lightening bolt." That means the bank debits your account, and mails a check to the company. It's a pain in the arse. I know. But keep in mind, it's not the bank's fault if the company can not accept credit as a payment source. It means the company might be too cheap to spend the extra money for the capability. I would just play around a little bit a try to type different companies in, and see if they accept credit payments. If you can find 12 (or even 6, just make 2 pmts a month to them), then you can reap the higher rates and the returned fees. Best of luck to you.
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