"Vip" <no[at]spam.me> wrote in message
news:t849jv07d833ov5qa2335d3td199vafmil[at]4ax.com...

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I changed from Checkfree to my bank. Both are supported by Money 2003. I
had to change the bill-pay provider in Money. After that, the change was
pretty painless.

I can log in to my Bank's web site and confirm the bill pay transactions
(past and future transactions). Money 2003 is being used as a glorified
front end to the bank's system (which is web based). When I set up a
payment in Money and press "OK" or whatever to send it to the bank, the
transaction shows up instantly in the Bank's bill-pay web page.

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Aloke
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For Checkfree and certain banks like Bank One that use Checkfree behind the
scenes, there are 3 ways that the bill gets paid.

1. For payees set up to receive electronic payment: the payment takes place
on the due date. The funds are removed from your account on the due date.

2. For other payees receiving paper checks, there are 2 ways that paper
checks are issued:

a) a paper check drawn on your account: The check is deposited by the
payee and funds are removed from your account when it clears (usually a few
days after the due date)

b) a paper check drawn on a Checkfree account. The payee deposits this
and gets paid from this Checkfree account. The funds get removed from your
account electronically on the due date.

I'm not sure how Checkfree decides between 2a and 2b. Maybe it has to do
with how many days before the due date the transaction was initiated..

In my case, the local daycare center gets both types of paper checks. When
it is type 2a, I see an entry in my bank statement that looks like "CHECK #
12345678" that clears 3-4 days after the due date (after the daycare bothers
to deposit it). When it is type 2b, I see entry like "Childrens Center
Online" and is withdrawn exactly on the due date. Note the phrase "online".
That doesn't mean that the daycare got this electronically. Rather, it
means that the funds were withdrawn from my account electronically.

The good part is that the funds are never removed from my account before the
due date.
Make a payment to yourself for $1. See which account # that check is drawn
on ...
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Aloke
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"Jeff Durham" <root[at]localhost> wrote in message
news:u8ed31CXDHA.1832[at]TK2MSFTNGP09.phx.gbl...
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On Wed, 06 Aug 2003 03:21:04 GMT, Vip <no[at]spam.me> wrote:

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I use CheckFree directly through Microsoft Money. Four days is routine
although online payees are quicker. The cash does not get deducted from my
account when the check is written (unlike my bank's own system) but only when
it clears. I've had good customer service experiences also.

I've never tried MSN Bill Pay.


--ron

Takes 4 days with BillPay for payments.
Transfers are 2 days for me.

Jamie

"Vip" <no[at]spam.me> wrote in message
news:nhs0jvg0g1k9hefmb1rrgg6u5c19t50ruh[at]4ax.com...
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I currently have bill pay service through my bank. However, I do have
to typically process the transaction no less than four days (sometimes
five) before the date the payment is due.

Does MSN Bill Pay provide faster turnaround on the payment ?
Particularly if the payee is one listed on the msn bill pay site (in
the list of 700 some vendors or perhaps the premium service list).
i.e. Would I still need to process the transactions within Money 4-5
days in advance of when the payment is due ? or would I be able to
get away with processing the transaction a couple of days before the
due date, and still get my payment in on time ?

Curious.

Vip.