Credit Card Payments ECHECKED
Author: Cathy
Joined: 12 May 2003
Posts: 55
Posted: Sun Apr 11, 2004 1:14 pm
Post subject: Card Payments ECHECKED
Anyone lately have any of their card payments echecked (processed electronically then instead of your bank statement showing check # such and such, it shows up as an automatic debit). More specifically, American Express and AT&T Universal Card has done this. The At&t card has started to do this with me starting with last months payment. My American Express Blue Card however is an interesting thing, because I've noticed they do it mainly when I write the check from one checking account and not the other. I understand they are trying to prevent bounced check situations (though I've never had a payment check or otherwise bounced) and I could live with not being able to get a check copy if I had to most of the time (I'm not the most consistant in keeping my statements once i'm done with them) but I don't like the idea of wasting a paper check since they can be costly (I also have online banking which I use sometimes but sometimes I like the idea of being able to get a copy of my check if I have to). Anyone else have this happen?
View our latest credit card ratings!
Author: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 19 May 2003
Posts: 713
Location: NJ
Posted: Mon Apr 12, 2004 8:57 pm
First you say that you could live without getting a copy of a check and then you say you like the idea of being able to get a copy of a check. Which is it? Personally I use electronic banking 100% of the time. Mabe it's my relationship with my bank, but there's no charge to me and I can make as many payments per month as necessary. Figuring 18-20 transactions per month, that's over 200 stamps I am saving each year. That's nice money! I also save on the cost of check printing. All in all I feel I win big time. I can go online any time of the day or night from anywhere and make a payment or check whether a payment has cleared. Takes just a few moments. Regarding copies, they will always furnish evidence of a transaction if needed. I also use a software package called PaperPort which allows me to scan in all my documents and file them electronically on my hard drive. I no longer keep paper bills or bank statements. I can find them in a heartbeat and if I have to send something out I simply print a copy. Of course I make very frequent backups to an external hard drive. In other words, I have become totally paper free. I love it!
View our latest credit card ratings!
Author: nativechild48
Credit Expert (100+ Posts)
Joined: 10 Nov 2003
Posts: 315
Posted: Tue Apr 13, 2004 10:56 pm
Once the credit card company e-processes your check it is destroyed so no one can get it. My credit union never returns checks anyway so I do not miss them. Home banking is a just a few keystrokes away so whenever I need to see clearance etc. I check and close the browser when I am done. Like Ira we print receipts or confirmation numbers when paying by computer and scan info for access. Saves on the clutter and location. I still want my statements from my banker and my creditors in case of computer or electrical problems, or malfunctions. I like saving on stamps and checks too, but prefer to send checks to some people.
native
View our latest credit card ratings!
Joined: 12 May 2003
Posts: 55
Posted: Sun Apr 11, 2004 1:14 pm
Post subject: Card Payments ECHECKED
Anyone lately have any of their card payments echecked (processed electronically then instead of your bank statement showing check # such and such, it shows up as an automatic debit). More specifically, American Express and AT&T Universal Card has done this. The At&t card has started to do this with me starting with last months payment. My American Express Blue Card however is an interesting thing, because I've noticed they do it mainly when I write the check from one checking account and not the other. I understand they are trying to prevent bounced check situations (though I've never had a payment check or otherwise bounced) and I could live with not being able to get a check copy if I had to most of the time (I'm not the most consistant in keeping my statements once i'm done with them) but I don't like the idea of wasting a paper check since they can be costly (I also have online banking which I use sometimes but sometimes I like the idea of being able to get a copy of my check if I have to). Anyone else have this happen?
View our latest credit card ratings!
Author: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 19 May 2003
Posts: 713
Location: NJ
Posted: Mon Apr 12, 2004 8:57 pm
First you say that you could live without getting a copy of a check and then you say you like the idea of being able to get a copy of a check. Which is it? Personally I use electronic banking 100% of the time. Mabe it's my relationship with my bank, but there's no charge to me and I can make as many payments per month as necessary. Figuring 18-20 transactions per month, that's over 200 stamps I am saving each year. That's nice money! I also save on the cost of check printing. All in all I feel I win big time. I can go online any time of the day or night from anywhere and make a payment or check whether a payment has cleared. Takes just a few moments. Regarding copies, they will always furnish evidence of a transaction if needed. I also use a software package called PaperPort which allows me to scan in all my documents and file them electronically on my hard drive. I no longer keep paper bills or bank statements. I can find them in a heartbeat and if I have to send something out I simply print a copy. Of course I make very frequent backups to an external hard drive. In other words, I have become totally paper free. I love it!
View our latest credit card ratings!
Author: nativechild48
Credit Expert (100+ Posts)
Joined: 10 Nov 2003
Posts: 315
Posted: Tue Apr 13, 2004 10:56 pm
Once the credit card company e-processes your check it is destroyed so no one can get it. My credit union never returns checks anyway so I do not miss them. Home banking is a just a few keystrokes away so whenever I need to see clearance etc. I check and close the browser when I am done. Like Ira we print receipts or confirmation numbers when paying by computer and scan info for access. Saves on the clutter and location. I still want my statements from my banker and my creditors in case of computer or electrical problems, or malfunctions. I like saving on stamps and checks too, but prefer to send checks to some people.
native
View our latest credit card ratings!
posted by CardRatings.com at 10:29 AM
0 Comments:
Post a Comment
<< Home