On 2005-02-01, Greg Salts <GregSalts[at]Hotmail.com> wrote:
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You can double check whether or not the payment actually got sent
at the time that you send it simply by logging into the bank and
verifying. This will add a minute or so to the two times you pay
your bills monthly. Until you're confident that it's working the
way you like.

I am personally opposed to automatic bill pays. I think that they're
like playing with fire. If you're not careful, it's easy to forget
about them and then lose complete track of your spending. But like
I said before, this is just my opinion. If it doesn't serve you,
ignore it.

I guess this is good advice, but since this feature has worked well for me
all the way back to Money 95 or at least 98 I know for sure, it's just that
it only stopped working recently. I assume that it has something to do with
my bank shutting down the version of ofx that was used in Money 2000,
although I did not get a notice that features would begin failing. I have
not ever gotten a minimum requirements for use of Chase Online Banking using
Microsoft Money, but when I called to see why the payment was not recurring
on their system as it showed on my side they claimed it had to be the
version of Money I was using.

I opened the prior file and I can see some payment status showing the
payment as schedule Payment to Send and a status of transmitted in a recent
Apay I set up. The bank confirms that there is a payment scheduled, but
claims it is a one time payment and that I do not have an Apay set up for
this payee, but in my list of scheduled bills I have a transaction for this
payee and when I choose edit, it reports that this automatic payment will be
made until I cancel it. Is there a way to see the date this apay was created
from within my Money file? Is it possible to view the confirmation that the
payment was indeed received by Chase?

If I cannot have faith in the Apay then why would I trust sending an
Epay without calling the bank to verify that the payment was scheduled and
would be paid properly? It seems it would be faster and more efficient if I
just wrote out manual checks and use Snail Mail instead. Then I have to rely
on the postman and wonder how much time is required to get a payment
delivered. If the payment gets slowed in the delivery I have the same
problem, no paymet processing center saves envelopes to check post mark. So
there appears to not be any foolproof way for paying bills.


"Mark Horn" <mark[at]hornclan.com> wrote in message
news:slrncvvchl.9f5.mark[at]home.hornclan.com...
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On 2005-02-01, Greg Salts <GregSalts[at]Hotmail.com> wrote:
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What follows is totally opinion. Take it if it's useful to you,
otherwise ignore it.

Avoid (as much as possible) using automatic payments. Try and
schedule all of your bills to fall on or around the 1st and the
15th of the month. Then in scheduled bills and deposit change
everything that was an APAY to an EPAY. Then set asside time on
your calendar to pay your bills on the 1st and 15th of the month.
If you're uploading your payments, this takes almost no time at all.
I spend (at most) 15 minutes paying my bills on the 1st & 15th.

The benefit of doing this is that

1) you'll always know that your payments are scheduled, and
2) you'll have better awareness of your spending.

As a consequence you'll be less tempted to frivolously add another
monthly recurring bill.

You can also think of it this way. What you pay in about 30 minutes
a month goes to ensuring that you never have to take a late fee
on any of your bills. So add all of the late fees that you would
have to pay if all of your APAYs failed. That's what you're paying
yourself for 30 mins of work.

Hi,

I had an issue with JP Morgan Chase Bank Using Money 2000 where I scheduled
Apay payments with no ending date, and nothing in the number of payments
field which should create a never ending Apay. I sent the instruction to my
bank via their online banking service, and received a confirmation from
Money that the payments were scheduled. The bills paid successfully the
first time, but failed to be entered into the register the next month. I
went into the Bills section and tried to edit the payments and was told that
I could not edit them (4 different ones scheduled through the same call) as
they would automatically be made until cancelled. The bank reported to me
that the transactions they received from me were one time only payments.
Naturally I had a bill paid late because I saw it as an upcoming bill and
assumed it would be entered into the register after the date the bill was to
be paid as it had always done in the past. I need to know how to prove to
the Bank that I scheduled a recurring payment not a one time payment. I have
a copy of the Money File that still has the payments showing as Apays, and
when you try to edit them in the Bills section they report they will be made
until cancelled by me. Is there a way to prove that the bank failed to
process the request that I sent? Is this a common problem that Apays with no
end date or number of payments are set to one time payments by the bank?

I have upgraded to money 2005 and now it is easier to see the type of
payment and such, Am I seeing the same thing my bank see's when they tell me
a payment is one time only?

Thank you in advance for any assistance you can provide.

Greg