cs00chs@unccvax.uncc.edu (charles spell) (03/14/91)
I was wondering, how many companies/banks accept EFT these days?
It seems that the larger coperations (Visa, MasterCard, Utility Companies)
and just about all banks accept them. What are your experiences with
checkfree and EFTs?
uunet!mcnc!unccvax!cs00chs
--
.--------------------------. ... |On the border of your mind lies a place
|uunet!mcnc!unccvax!cs00chs| (") |where dreams and reality are one...I will
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\%\%\%\%\%\%\%\%\%\%\%\%\%\%\%\%\%\|the subject of your imagination. -Aldo Novacampbell@dev8n.mdcbbs.com (Tim Campbell) (03/18/91)
In article <3262@unccvax.uncc.edu>, cs00chs@unccvax.uncc.edu (charles spell) writes: > > I was wondering, how many companies/banks accept EFT these days? > It seems that the larger coperations (Visa, MasterCard, Utility Companies) > and just about all banks accept them. What are your experiences with > checkfree and EFTs? > > uunet!mcnc!unccvax!cs00chs > -- I was surprised to find out how many places (large institutions) still don't accept them. For example, even though my Visa card (Michigan National Bank) does a lot of business with Checkfree, my payments to them still seem to go as "electronic to check" drafts. (they are EFT transactions which are printed as checks and mailed via standard U.S. Mail. - they have to be processed as regular checks once this happens) You can still pay *anybody* with Checkfree - (I think you're NOT allowed to pay your taxes or any money to a court (ie. a traffic ticket)) - I think this is spelled out in the instructions. I don't know why - probably some oddball law somewhere. Other than that - you can pay anyone - even regular individuals. Checkfree requires 4 days advance notice on any transaction. They will then (as I understand it) attempt to send through a "dummy" transaction (it's like sending an EFT for $0.00 through) just to see if it makes it. If not (the transaction is rejected) they will print a draft (check) and mail it out with enough time to deliver it without being late. -Tim --------------------------------------------------------------------------- In real life: Tim Campbell - Electronic Data Systems Corp. Usenet: campbell@dev8.mdcbbs.com @ McDonnell Douglas M&E - Cypress, CA also: tcampbel@einstein.eds.com @ EDS - Troy, MI CompuServe: 71631,654 Prodigy: MPTX77A P.S. If anyone asks, just remember, you never saw any of this -- in fact, I wasn't even here.
sjs@gnv.ifas.ufl.edu (03/20/91)
In article <3262@unccvax.uncc.edu>, cs00chs@unccvax.uncc.edu (charles spell) writes: > > I was wondering, how many companies/banks accept EFT these days? > It seems that the larger coperations (Visa, MasterCard, Utility Companies) > and just about all banks accept them. What are your experiences with > checkfree and EFTs? I've had two problems in the past couple of years using CheckFree. In one case, their check didn't make it to a credit card company; in another, the check was misaddressed. In both cases, though, CF asked the merchants to not apply late fees (CF is very good at taking care of their messes). My bank, a credit union, called me in for meeting when I first started using CF. They knew about home-based check generation (printing checks on your own printer), but they had never seen fund transfers that completely bypassed paper checks. I had to act like a CF PR rep. to let them know that CF was a reputable firm. (The credit union wasn't hassling me, they just wanted to make sure I knew who was legally responsible for what.) The only other problem I can think of is that of my particular bank's state- ment. On the statement, my normal credit union checks are listed by check number. CF transfers (their own paper checks or straight EFT) are listed by month number -- no check numbers or other references. I can tell what is a CF transfer, but sometimes figuring out who the payee was is a trial (but only if I CF-paid several merchants the same amount in any given month). To distinguish monthly credit card CF payments to several merchants, I always make sure the amounts are different, so I can tell them apart on the statements (like $40.00 to X, $40.01 to Y, etc.). +---------------------------------------------+------------------------------+ | ~~~ Sid Sachs | "Time to wake up! | | / \ ~~~ at the Mountains of Madness | Time to rise!" | | / / \ | | | / / \ Bitnet: sjs@ifasgnv | - Silver Lady, | | / \ Internet: sjs@gnv.ifas.ufl.edu | Intergalactic Touring Band | +---------------------------------------------+------------------------------+