OT Wells Fargo's online banking sucks

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I just added Emory Hospital as an automatic payee. Wells Fargo has no caller ID lookup so the chances of finding the address, city, state automatically is 0. (I suggest adding this feature every time it comes up but all I hear are crickets)
Also automatic payments has no way to send the exact amount of the bill. I can set up payments, and I have the option of sending them forever until I stop them, or sending xx number of payments. South Trust had the option of "send until you pay $$$.cc."
Because all of my bills recur monthly, I rarely have to add payees so the amount of trouble to switch banks is more trouble than to put up with this, so all I can do is complain.
M. I. C. K. E. Y. M. O. U. S. E bank
-- O'Neil to General Hammond: For the record Sir, I wanted to blow it the hell up.
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On 6/4/2011 10:36 AM, Metspitzer wrote:

Most, if not all, big banks suck and exist to please share holders. Get a credit union. I've been with a CU for almost 30 years. Not one problem. In fact, they are very helpful particularly when it comes to ID theft. Small enough to treat you like a person.
Jim
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wrote:

This is why I've always used the "pull" method of automatic payment (where you authorize the utility/school/credit card/etc to initiate an ACH transfer each month for the bill amount), instead of the "push" method of these bill-pay systems. I'd see if the hospital can set that up if these are ongoing bills.
I've done this for all my recurring bills for 15+ years and never had a problem with a bad withdrawal -- on the contrary, the one time I tried to use "bill pay" several years ago with my credit union to pay the rent I couldn't have autopayed via pull, on the third month they took the money out of my account...and never sent it to the rental agency. They did take responsibility, and refunded it along with the late charge I paid the agency immediately, but I gave up after that. Too much room for error/finger pointing, where with ACH withdrawal, if the statement says "PG&E ACH $16.85", that's proof that PG&E received that amount.
In the end, if the company pulling the money is legit, they're only going to take what they should. If they're not...well, anyone with your account and routing number (including someone you "bill pay" to) can initiate a fraudulent payment anyway, so you don't really have any more protection.
Josh
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On 6/4/2011 11:56 AM, Josh wrote:

I would never ever give anyone the keys to my bank account. All disbursements are made by me and I can think of a number of occasions why that makes sense.
We use natural gas for heating/cooking/water heating. The highest bill we ever had was ~ 160.00 There was bad weather so they didn't read the meters and delivered estimated billing. Only little problem was they delivered a bill for almost $700. If they could take whatever money they wanted they would have caused other payments to fail since I only keep sufficient money to pay bills in the account. Since I am in control of my checkbook I called them and asked how much I really owed them and they played the part of the 900lb gorilla and told me $690. I refused to pay unless they gave me a reasonable estimate so the "supervisor" had a powwow with someone and decided $150 would work.
The water company notified us they needed to change the water meter. So they kept on making appointments and then no one would show. They even cluelessly claimed it wasn't their problem because they hired a contractor to do the work. Then the normal $22 water bill became $400+ with estimated fees because they tried to make their poor management my problem. If they had the keys to our checking account they could have taken the money and we would need to battle them and when they did they could have caused other legitimate bills not to be paid. I called and asked "how much do I actually owe you?" and received the same we are megacorp you are stupid response that the other utility gave me. After a long discussion the "manager" agreed to the normal monthly bill.
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I'm with Josh. Wrong billing is something you need to deal with separately. I wouldn't stand for it either. Almost all my utility bills and credit card payments are automagically by the "pull" method. When Verizon started erroneous billing, I stopped it until they fixed their paperwork. The gasportion of my bill has often estimated readings. I either let them carry over to the next month or call them to correct it. Even with Jersey's PSE&G that hasn't been a problem. The main advantage (IMNSHO) is that if you forget to send a payment it is your fault. If they forget to pull the money it is their problem. Now I don't have to worry whether the payment gets there on time.
--
Best regards
Han
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On 6/4/2011 7:33 PM, Han wrote:

they should how do I deal with that separately?
One of the best things that ever happened to prevent forgetting to pay bills is online banking. As bills come in I simply log on to the bank and post them instead of putting them in a pile. If someone sends a bizarre bill it doesn't get posted.
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That would warrant calls to bank and whoever did it. Has never happened to me, so far <knocking wood>.

That's fine if you don't go on vacation or off to help your kid with a family problem (happy or not). I'm sometimes away for more than a few days. Also, I keepmy money in my checking account for a longer period if I do the pull method. With the push you'd better pay a few days early to avoid problems with late payments.
--
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"Han" wrote in message

That would warrant calls to bank and whoever did it. Has never happened to me, so far <knocking wood>.

That's fine if you don't go on vacation or off to help your kid with a family problem (happy or not). I'm sometimes away for more than a few days. Also, I keepmy money in my checking account for a longer period if I do the pull method. With the push you'd better pay a few days early to avoid problems with late payments.
--
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On 6/5/2011 5:08 PM, ELGY wrote:

I've only had one slightly negative experience with "auto pay" but I like to be in control. ( I think we're talking about the same thing)
On another subject: The mortgage company is always sending me biweekly auto pay program suggestions. Those have to be looked inot carefully. They are usually just a way for the mortgage company to earn more interest on my money. Best thing to do is just take the two extra paydays/yr and put it towards principle. But they don't tell you that.
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Back in the day, I took out a 30 year mortgage (so I'd have some leeway in payments) but paid at the 15 year rate. I actually used to get communications from my lender reminding I really did not have to pay that much. Amazing the amount of money one has to spend when the kids are out of college and the mortgage is paid off.
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On 6/5/2011 6:20 PM, Kurt Ullman wrote:

We just refinanced to a lower rate and term. I plan to have mine paid off in about 10 years if not sooner (assuming my wife doesn't get that Lexus she always talking about). I'm always sending extra money on principle and they never complain. I used to make advanced payments until I found out that did very little towards increasing the principle/interest payment ratio. If I dropped back to a normal payment schedule I'd still would have paid the same interest. Seems unfair but I guess that's the way the computer processes the payments. I never could get a straight answer. The customer service people were clueless. I don't think they train them for these situations.
Congrats on paying off your house. I look forward to that feeling!
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designate that I was paying extra principle. ALL of that has to go to principle. Everything I have EVER read says that you save all sorts of interest (IIRC it cut the total interest I paid by around 40% or so. K

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Correct. They can only charge interest on the outstanding balance. That said, they can make it a PITA to pay towards the balance rather than just build up money in a *very* low yield account. At one time some mortgages required that payments towards the balance had to be in monthly payment increments, just to discourage advance payments. I don't believe such is legal anymore. My mortgages haven't worked that way.
There also may be a pre-payment penalty. These are normally used to recapture paid (financed) closing costs. There may be a substantial penalty for paying more than, say, 1/5 of the mortgage in a given year for the first five years of a mortgage (or some such numbers).

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you owed for services rendered. If you had paid those ahead of time (which is the bright thing to do since they charge interest on these over the term of mortgage otherwise) there would have been no additional charges. Pure prepayment penalities are illegal and have been since at least the mid-70s since I have prepaid through all of my houses. I don't view this as being a bad thing, just part of the cost of the house, like the shingles (grin). Now LETTING you take 30 years to pay off the closing costs with interest..

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It may not technically be a "prepayment penalty", but that's what it has been called. Financing closing costs might not be an awful thing to do, 1) if there is no other way to refinance, or 2) you don't plan on being in the house longer than... At that point it's a numbers game. That's what the "prepayment penalty" above is all about, of course.

Again, I don't see this being the worst thing that could happen.

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Never said it was the worst that could happen and you noted some times where it might be good idea. Just don't like the banks pushing it on everyone as a good idea as they have recently with some friends.
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It's far better than sitting with a high-rate mortgage because you can't afford the closing costs. After than, it's up to each individual to calculate which offer is best for them.
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On Mon, 06 Jun 2011 20:40:55 -0500, " snipped-for-privacy@att.bizzzzzzzzzzzz"

Sometimes you have to coddle the banks along. I called BOA for instructions on a 10 g principal payment. The lady told me to write "Apply to Principal Only" in the memo section of the check. That went fine. About a year later I did the exact same thing with about 3 g's, can't remember the exact amount. So I notice I don't get my monthly bill, and call them. They had applied it to monthly payments far in advance. Crazy, but good for them. I had them straighten that out, and retroactively too.
--Vic
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On Mon, 06 Jun 2011 21:09:49 -0500, Vic Smith

They read the check?

Sure.
My wife pays the mortgage at the bank and makes sure it goes where it's supposed to. She works there. ;-)
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On 6/6/2011 10:25 PM, snipped-for-privacy@att.bizzzzzzzzzzzz wrote:

My mortgage holder, which happens to be WF, sends a coupon with each quarterly statement, in case you wanna do a pre-pay against principle. I know I should, but I keep thinking I need to put the money directly into house repairs, on the theory that owing X thousand on a fixed-up house is better than owing W-Y thousand on a fixer-upper.
Dunno about their retail banking arm, but I have been pretty happy with their mortgage arm. They ended up with the mortgage on my other place, after it got resold a few times, and had the best offer when I bought this place. Only one boo-boo in billing when adjusting escrow once, and they quickly fixed it.
--
aem sends...

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