henry@garp.mit.edu (Henry Mensch) (11/15/90)
i'm considering this software to manage electronic payments, and am interested to hear opinions about it, as well as facts about how the payments have to happen (since my bank doesn't have an electronic bill paying service, i'm interested to know how the CheckFree people have access to my funds, etc.) thanks, -- # Henry Mensch / <henry@garp.mit.edu> / E40-379 MIT, Cambridge, MA # <hmensch@uk.ac.nsfnet-relay> / <henry@tts.lth.se> / <mensch@munnari.oz.au> # via X.400: S=mensch; OU=informatik; P=tu-muenchen; A=dbp; C=de
mcastle@mcs213f.cs.umr.edu (Mike Castle) (11/15/90)
In article <4035@media-lab.MEDIA.MIT.EDU> henry@GARP.MIT.EDU (Henry Mensch) writes: > >i'm considering this software to manage electronic payments, and am >interested to hear opinions about it, as well as facts about how the payments >have to happen (since my bank doesn't have an electronic bill paying service, >i'm interested to know how the CheckFree people have access to my funds, etc.) There just happens to be an article discussing 'CheckFree' in the November issue of PC/Computing that you might want to look at. Page 112, written by Chris Shipley. 'Course, I wouldn't be too surprised (especially considering this being the latest issue, and the subsequent posting) if that's where you noticed CheckFree, and decided to ask more questions about it. :-> Cheers, -- Mike Castle (Nexus) S087891@UMRVMA.UMR.EDU (preferred) | ERROR: Invalid mcastle@mcs213k.cs.umr (unix mail-YEACH!)| command 'HELP' Life is like a clock: You can work constantly, and be right | try 'HELP' all the time, or not work at all, and be right twice a day. |
psfales@cbnewsc.att.com (Peter Fales) (11/15/90)
In article <4035@media-lab.MEDIA.MIT.EDU>, henry@garp.mit.edu (Henry Mensch) writes: > > i'm considering this software to manage electronic payments, and am > interested to hear opinions about it, as well as facts about how the payments > have to happen (since my bank doesn't have an electronic bill paying service, > i'm interested to know how the CheckFree people have access to my funds, etc.) I have been using CF through "Managing Your Money" for some time and have been very pleased. Unlike other electronic bill payment services, you can write checks to ANYONE. If the payee is a big name (like a bank credit card or utility) they transfer the funds electronically. As far as I know all banks (and many other institutions like my credit union) support Electronic Funds Transfer (EFT). Otherwise, they print a check and send it to the payee. The funds are withdrawn from your account when the check clears. If you want to see what a check looks like, send one to yourself! I have had no problems (other thank predictable ones like putting the wrong amount on the check). No one has had any problems with the checks and everyone seems to be getting paid. My one complaint is that there is no way to put a "memo" on the check, but since you can put any text for the "account number" that has substituted pretty well. -- Peter Fales AT&T, Room 5B-420 N9IYJ 2000 N. Naperville Rd. UUCP: ...att!ihlpb!psfales Naperville, IL 60566 Domain: psfales@ihlpb.att.com work: (708) 979-8031
henry@athena.mit.edu (Henry Mensch) (11/17/90)
mcastle@mcs213f.cs.umr.edu (Mike Castle) writes: |> There just happens to be an article discussing 'CheckFree' in the November issue |> of PC/Computing that you might want to look at. Page 112, written by Chris |> Shipley. 'Course, I wouldn't be too surprised (especially considering this |> being the latest issue, and the subsequent posting) if that's where you |> noticed CheckFree, and decided to ask more questions about it. :-> actually, i wasn't aware of that article, but i picked it up and it seems to be useful. thanks for the pointer. -- # Henry Mensch / <henry@garp.mit.edu> / E40-379 MIT, Cambridge, MA # <hmensch@uk.ac.nsfnet-relay> / <henry@tts.lth.se> / <mensch@munnari.oz.au> # via X.400: S=mensch; OU=informatik; P=tu-muenchen; A=dbp; C=de
henry@garp.mit.edu (Henry Mensch) (11/17/90)
i received an e-mail reply to my original query from jim keane, but the e-mail address in your message doesn't work. can you write again with your proper e-mail address in the message? -- # Henry Mensch / <henry@garp.mit.edu> / E40-379 MIT, Cambridge, MA # <hmensch@uk.ac.nsfnet-relay> / <henry@tts.lth.se> / <mensch@munnari.oz.au> # via X.400: S=mensch; OU=informatik; P=tu-muenchen; A=dbp; C=de
itkin@mrspoc.Transact.COM (Steven M. List) (11/20/90)
psfales@cbnewsc.att.com (Peter Fales) writes: >In article <4035@media-lab.MEDIA.MIT.EDU>, henry@garp.mit.edu (Henry Mensch) writes: >> >> i'm considering this software to manage electronic payments, and am >> interested to hear opinions about it, as well as facts about how the payments >> have to happen (since my bank doesn't have an electronic bill paying service, >> i'm interested to know how the CheckFree people have access to my funds, etc.) > >I have been using CF through "Managing Your Money" for some time and have >been very pleased. Unlike other electronic bill payment services, you Me too! It's GLORIOUS! I got so tired of (oldest) writing checks, recording them in my register, signing the checks, then working on a spreadsheet to track my finances, then (newer -Quicken) I fell in love with Quicken and its ability to do most of that in one step, although I was never really happy with Quicken's reports and it didn't handle consolidated reporting for multiple accounts, then (latest - MYM w/Checkfree) I changed to MYM and was quite happy with that, especially with the annual updates which have consistently added functionality. Last winter they added Checkfree. This took away my last manual step - signing checks! Now I only need to write checks when there is a REQUIREMENT (like property and income taxes) to submit a specific form. And Checkfree is WONDERFUL. My only complaint about the way it's integrated into MYM was that it didn't permit true "automatic payments". You still had to go in each month and mark the payments to be made. The next release (this winter) will correct that. >can write checks to ANYONE. If the payee is a big name (like a bank >credit card or utility) they transfer the funds electronically. >As far as I know all banks (and many other institutions like my credit >union) support Electronic Funds Transfer (EFT). Otherwise, they print Interestingly, my bank is Wells Fargo, and they DON'T accept EFT for my credit card payment - nor does B of A, I think! Interesting. >a check and send it to the payee. The funds are withdrawn from your >account when the check clears. If you want to see what a check looks >like, send one to yourself! Or wait for you first statement after starting to use the service, and see who got checks instead of EFT. In the case of WFB, my statement itemizes EACH EFT by payee name, instead of including them up in the checks-by-number list, so it's almost a statement! Of course, it's now several pages long, but SO WHAT. Convenience. Happysigh. So, overall, if you're into some convenience, accuracy, and have a PC on which to work, GET ONE OF THE PACKAGES THAT USES CHECKFREE. There's Checkfree's own package, Quicken, and Managing Your Money. I'm sure there're others, but those are the most popular. -- +----------------------------------------------------------------------------+ : Steven List @ Transact Software, Inc. :^>~ : : Chairman, Unify User Group of Northern California : : {apple,coherent,limbo,mips,pyramid,ubvax}!itkin@guinan.Transact.COM :