Bill Pay with Bank of America - CA


M

Matt

MS Money convert here. Trying to find out if anyone utilizes bill pay
with Bank of America. If so, please describe your experiences.

Thanks!
Matt
 
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M

MMGilbert

"Describing experiences" isn't going to help you.

I've been using it for years, and it works just fine. Any specific
questions?
 
M

Matt

"Describing experiences" isn't going to help you.
I've been using BofA Bill Pay with Quicken for a couple of days now and
it's working very well. It connects, downloads inbound/outbound
transactions flawlessly thus far.

I wasn't looking for anything specific because I haven't ran into
anything that I've needed specific answers to.
 
O

Oilcan

I've been using BofA Bill Pay with Quicken for a couple of days now and
it's working very well. It connects, downloads inbound/outbound
transactions flawlessly thus far.

I wasn't looking for anything specific because I haven't ran into
anything that I've needed specific answers to.
Matt

Are you asking about Quicken Billpay or Direct Connect with Bank of
America or Bank of America Online Bill Pay? These are three different
products. I use Quicken Billpay ($9.95 / mo) and issue payments from
a Bank of America checking account (plus others) without problems.
 
M

Matt F

:
: Are you asking about Quicken Billpay or Direct Connect with Bank of
: America or Bank of America Online Bill Pay? These are three different
: products. I use Quicken Billpay ($9.95 / mo) and issue payments from
: a Bank of America checking account (plus others) without problems.
:

I set it up with BofA Bill Pay which is the ability to schedule payments
directly from Quicken instead of accessing BofA.com. I also applied for
Quicken Bill Pay, but I don't see the advantage over the integrated Bill
Pay by BofA.

I can definitely see how someone could get confused by all the available
options.

As I stated, my experience has been pleasant thus far. If I would have
known earlier how much better Quicken integrates with Bank of America, I
would have made the switch long ago.

Matt
 
O

Oilcan

:
: Are you asking about Quicken Billpay or Direct Connect with Bank of
: America or Bank of America Online Bill Pay? These are three different
: products. I use Quicken Billpay ($9.95 / mo) and issue payments from
: a Bank of America checking account (plus others) without problems.
:

I set it up with BofA Bill Pay which is the ability to schedule payments
directly from Quicken instead of accessing BofA.com. I also applied for
Quicken Bill Pay, but I don't see the advantage over the integrated Bill
Pay by BofA.

I can definitely see how someone could get confused by all the available
options.

As I stated, my experience has been pleasant thus far. If I would have
known earlier how much better Quicken integrates with Bank of America, I
would have made the switch long ago.

Matt
For using a single bank for your payments, the experience is about the
same. I have 7 payments accounts (banks, credit unions, brokerage -
even my HELOC) through Quicken Bill Pay. I also can schedule payments
directly from Quicken to all 7 of those payment accounts for the same
fee that B of A is charging you.

The one additional advantage for me is the I can receive over 95% of
my statements (credit cards, utilities, etc.) from the Quicken Bill
pay website. This allows me to avoid having to log into each website
when I get a message that a 'New Statement is Available'. I download
these statements and attach them to either the Account or
Transaction. When I receive these bills, I now schedule a payment
from the Quciken Bill Payment site which automatically gets downloaded
as if I scheduled it from Quicken (no double entry), Depending on the
number of monthly bills you receive, you might not find any value in
this. For me Qucken Bill Pay is a time saver.

BTW, the only payment account that I could do direct connect from
Quicken is B of A, however this is not my primary financial
institution. Either way, direct connect is the way to go. Too bad
most remaining banks charge for this service.
 
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M

Matt

Oilcan said:
For using a single bank for your payments, the experience is about the
same. I have 7 payments accounts (banks, credit unions, brokerage -
even my HELOC) through Quicken Bill Pay. I also can schedule payments
directly from Quicken to all 7 of those payment accounts for the same
fee that B of A is charging you.
Excellent point. This is probably the reason BofA is more than adequate
for me. Also, the fee is waived for my account type.

Now I have my first specific question. BofA has the concept of e-Bills.
However, I don't see a way for Quicken to notify me of a new e-Bill.
Is there a function I'm missing for this to occur?
The one additional advantage for me is the I can receive over 95% of
my statements (credit cards, utilities, etc.) from the Quicken Bill
pay website. This allows me to avoid having to log into each website
when I get a message that a 'New Statement is Available'. I download
these statements and attach them to either the Account or
Transaction. When I receive these bills, I now schedule a payment
from the Quciken Bill Payment site which automatically gets downloaded
as if I scheduled it from Quicken (no double entry), Depending on the
number of monthly bills you receive, you might not find any value in
this. For me Qucken Bill Pay is a time saver.
Downloading statements as .pdf and attaching them is a new concept to me
coming from M$ Money. I've briefly perused the feature, but it may be
something I could be using. The trouble is, not all financial
institutions make statements available online and it's a pain to scan
them in.

Thanks again!
Matt
 
O

Oilcan

Excellent point. This is probably the reason BofA is more than adequate
for me. Also, the fee is waived for my account type.

Now I have my first specific question. BofA has the concept of e-Bills.
However, I don't see a way for Quicken to notify me of a new e-Bill.
Is there a function I'm missing for this to occur?


Downloading statements as .pdf and attaching them is a new concept to me
coming from M$ Money. I've briefly perused the feature, but it may be
something I could be using. The trouble is, not all financial
institutions make statements available online and it's a pain to scan
them in.

Thanks again!
Matt- Hide quoted text -

- Show quoted text -
The notification would likely have to come from B of A website that
you have received a new bill. I receive an email from Quicken Billpay
that states a new statement has been received.

You don't need to scan them. Search for a program PDF995. Its free
and it allows you to print a webpage as a PDF document (in otherwords,
you bypass the paper and the scanning). Most sites have some online
statement (may not be in a PDF format) and has given the option of
opening the statement in a seperate window. The software is tricky to
configure. I use these on my Citibank statement and some others.
 
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O

ob

For using a single bank for your payments, the experience is about the
same. I have 7 payments accounts (banks, credit unions, brokerage -
even my HELOC) through Quicken Bill Pay. I also can schedule payments
directly from Quicken to all 7 of those payment accounts for the same
fee that B of A is charging you.

The one additional advantage for me is the I can receive over 95% of
my statements (credit cards, utilities, etc.) from the Quicken Bill
pay website. This allows me to avoid having to log into each website
when I get a message that a 'New Statement is Available'. I download
these statements and attach them to either the Account or
Transaction. When I receive these bills, I now schedule a payment
from the Quciken Bill Payment site which automatically gets downloaded
as if I scheduled it from Quicken (no double entry), Depending on the
number of monthly bills you receive, you might not find any value in
this. For me Qucken Bill Pay is a time saver.

BTW, the only payment account that I could do direct connect from
Quicken is B of A, however this is not my primary financial
institution. Either way, direct connect is the way to go. Too bad
most remaining banks charge for this service.
You know BOA web page support E-Bills? It will download all your bills
and list them for you to download in PDF formort for free on BOA web
page under Bill Pay. Once you download the E-Bill it will ask you if
you want to make a payment and automatically enter the due date and
amount for you. Next time you do a 1 set update thoses bill payment
will be downloaded into Quicken for you. It also supports a feature
called "My Portfolio" which is free and lets you view and manage your
online accounts, including non-Bank of America accounts, from a single
location.

Bank of America just like many other banks has ways to waive the
Quicken direct connect fee. With Bank of America anyone with a Prima,
Advantage, Prefered or First Gold Choice account or better get the fee
waived. This is the same account just different names depending on the
area you live and balance requirements of the above accounts varries
between $2.5K-$10K combined balance between all Bank of America linked
accounts which includes outstanding balances on credit cards,
mortgages and balances held in brokerage accounts with BOA.
 

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