Jump to content

Sign in to follow this  
butterflywings

For those of you who pay your bills online, do you still receive a paper statement?

Recommended Posts

I do, for my credit cards, but my student loan bill recently went paperless, against my wishes and I wasn't happy about it. I've always paid it online but now they send you an e-bill. My credit cards send me an e-bill but I also get a paper statement.

 

I like having the bills in hand, in my bill box that I have in the kitchen. I have each bill in order that their due. It may be old fashioned, but it's tangible and helps me stay organized.

 

I'm finding that my electric company is seriously pushing online pay too. I have no problem paying online, I already do that with other bills and prefer to pay that way, but once you go online pay with them, they stop sending you a paper bill.

 

Our bank which we have our mortgage with is also pushing e-bills and eliminating paper statements.

 

Do I just need to get over it and start adjusting that e bills are the wave of the future, and figure out a different way to remember when each bill is due?

Share this post


Link to post
Share on other sites

Not sure about student loans, but I have all my card issuers set up to send me an email alert when my statement cuts. I download and keep all of my pdf statements (and other financial stuff) on an encrypted flash drive in case anything should happen to my PC.

Share this post


Link to post
Share on other sites

I like paper statements as a backup.

I shred ALL of them, but *IF* any show a balance, I make sure it's paid.

Share this post


Link to post
Share on other sites

I've gone paperless on everything. I just use my billpay from my checking account to schedule all my payments so I'm never worried about being late etc. If I really need a receipt for something then I will dl a copy of my statement for a rainy day. But at this point with technology and being a little more environmentally aware then we were a decade a go, I just don't see the need for paper statements.

Share this post


Link to post
Share on other sites

I pay all my bills online thru my bank. I still require my creditors to send me paper statements. Yeah.....they always try to get you to go paperless but I laugh at that. I always want a hard proof of what the balance is and not rely on a computer in this case.

Share this post


Link to post
Share on other sites

I'm completely paperless. My bank sends me e-bills and email reminders and I also use quicken. I asked for a coupon book for my student loans so I can send in a check, because I am serious about having a paper trail for SL's.

Share this post


Link to post
Share on other sites

My layers:

 

1) All accounts with AutoPay are set to PIF

2) Scheduled BillPay in Quicken BEFORE statement close

3) E-mail alert when statement closes

4) Scheduled PIF in Quicken AFTER statement close

5) E-mail alert when payment due

6) Paper statement, just in case ;)

Share this post


Link to post
Share on other sites

My bank accounts are paperless. But I'm afraid to have anything that requires prompt attention go paperless because I sometimes have emails suddenly start going to my spam folder. What if a bill got lost in there and I delete it? So I have them all sent on paper even tho I use online pay thru my checking account.

 

I never use auto pay any more either. I had my ISP on autopay in the late 90's and they took my payment out 3 times one month and overdrew my checking account. It took a month and dozens of phone calls to both them and my bank to straighten it out and reverse all the pays plus the overdraw charges, so now I pay it myself, with online bill pay.

Share this post


Link to post
Share on other sites

auto pay blows. It's like having lexington law fix your credit report. Why would you let someone else do something for you when you can do it yourself? I like to be in charge of when, who and how much I pay someone hence I use billpay where I'm in total control.

Share this post


Link to post
Share on other sites

My layers:

 

1) All accounts with AutoPay are set to PIF

2) Scheduled BillPay in Quicken BEFORE statement close

3) E-mail alert when statement closes

4) Scheduled PIF in Quicken AFTER statement close

5) E-mail alert when payment due

6) Paper statement, just in case ;)

 

Some lenders like Citi and Barclay's have a screwed up autopay. With Citi (where you want to allow your

Forward to report for the 100 extra TYP's) it pays the statement amount even if you PIF the day after it

cuts. With Barlcay's is weirder, it seems to pay some random amount that had been on your account

regardless of whether you PIF before or after cut. Both lenders were routinely ending up with negative

balances until I shut that off.

Share this post


Link to post
Share on other sites

I like paper. I read my bill on-line, and I pay on-line,

unless I have to give up my paper bill to do that. I do

get e-mail alerts, so what am I worried about?

 

First, computers crash and e-mail accounts die. When my

last disk crashed, I was off the net for two weeks. And

my old e-mail account was locked up until I jumped through

some hoops, boring techie story.

 

Second, Dear Wife is not good at this stuff. She would do

my bills if I was in the hospital, or worse ... but she will

open envelopes and write hard-copy checks. Even if I teach

her all of the tricks, she does not know all my passwords.

Which change.

 

Third, these are critical communications. If some banker

raises my interest rate or changes my account terms, I want

real notice. Not, "Sir, we sent you a communication to an

e-mail account that appears on your record with us. Prove

that you did not get it." And a hard copy of my alleged

e-mail will never protect my rights in court.

 

ER

Share this post


Link to post
Share on other sites

My layers:

 

1) All accounts with AutoPay are set to PIF

2) Scheduled BillPay in Quicken BEFORE statement close

3) E-mail alert when statement closes

4) Scheduled PIF in Quicken AFTER statement close

5) E-mail alert when payment due

6) Paper statement, just in case ;)

 

Some lenders like Citi and Barclay's have a screwed up autopay. With Citi (where you want to allow your

Forward to report for the 100 extra TYP's) it pays the statement amount even if you PIF the day after it

cuts. With Barlcay's is weirder, it seems to pay some random amount that had been on your account

regardless of whether you PIF before or after cut. Both lenders were routinely ending up with negative

balances until I shut that off.

FIA too. ;)

Share this post


Link to post
Share on other sites

auto pay blows. It's like having lexington law fix your credit report. Why would you let someone else do something for you when you can do it yourself? I like to be in charge of when, who and how much I pay someone hence I use billpay where I'm in total control.

 

Many loans give you an interest reduction if you use autopay.

Share this post


Link to post
Share on other sites

Does autopay extend to debt collection? My concept is

that if I say, "Take whatever you think you need," then

the day they decide to collect 100% plus a convenience

penalty or whatever else they pile on, the funds are gone

and they tell you later. I'm not for that.

 

ER

Share this post


Link to post
Share on other sites

I am old fashion and will not hesitate to tell you PAPER TRAIL PAPER TRAIL PAPER TRAIL, a well established paper trail will save your hide in ANY situation good or bad!

Share this post


Link to post
Share on other sites

I receive both online and hard copy when there's an option. Then, I shred the extras after a couple of months.

Share this post


Link to post
Share on other sites

Until these companies offer some sort of discount for going paperless, I will continue to receive a mailed statement. I am all for the environment, but think about how much money this saves these companies, they could pass a couple of pennies of that onto their customers who are willing to go paperless.

Share this post


Link to post
Share on other sites

Some companies are giving interest rate deductions or bonuses for going paperless.

 

Direct Loans gives a .25% interest rate cut, for example.

Share this post


Link to post
Share on other sites

I do, for my credit cards, but my student loan bill recently went paperless, against my wishes and I wasn't happy about it. I've always paid it online but now they send you an e-bill. My credit cards send me an e-bill but I also get a paper statement.

 

I like having the bills in hand, in my bill box that I have in the kitchen. I have each bill in order that their due. It may be old fashioned, but it's tangible and helps me stay organized.

 

I'm finding that my electric company is seriously pushing online pay too. I have no problem paying online, I already do that with other bills and prefer to pay that way, but once you go online pay with them, they stop sending you a paper bill.

 

Our bank which we have our mortgage with is also pushing e-bills and eliminating paper statements.

 

Do I just need to get over it and start adjusting that e bills are the wave of the future, and figure out a different way to remember when each bill is due?

 

I really resisted going paperless on my credit cards. I've heard too many horror stories about people not getting the email from the credit card company and then getting collections on their report and fees. But then I realized I never opened my statements from the mail because I'd already looked at them online, so it was just clutter. I have a spreadsheet of all my cards and I log into them regularly, so I'm not too worried about it. I went ahead and went paperless and never regretted it.

Share this post


Link to post
Share on other sites

I am as paperless as I can be, All of my statements are online and if needed I can go back to my bank to show any payments.

Share this post


Link to post
Share on other sites

I'm paperless on all of my credit cards and bank accounts. I've never worried about not getting the email notifications of statements because I log into all of my accounts at least once a week and usually much more often and am aware of statements before the email is in my inbox. I also have a spreadsheet of dates for each account and have everything calendared in case I have a brain hiccup.

 

I can't bring myself to allow anything to be paid automatically. I understand the idea of auto-paying to cover a lapse of memory on my part or if I were ill, etc., but my control-freak nature can't delegate that type of responsibility.

 

Just a note. . . I hope everyone is logging into their accounts more often than once a month. It's a good thing to regularly check that nothing strange is going on. It is easier to clean up messes--caused by either mistakes or criminal activity--the sooner you catch it.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




  • Today's Birthdays

    No users celebrating today.
  • Member Statistics

    • Total Members
      177,981
    • Most Online
      2,046

    Newest Member
    kendell.baldwin
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines