Bank of America Interesting new thing.

[dhbearguy]

I am a big fan of bill pay. Why write checks and spend money on postage when the bank will do it for free. Some of us of course are to Paranoid to do that, but I'm not. The bank is responsible if my funds come up missing right?

So anyways, I asked my landlord when he got my last check I sent through bill payment, just to make sure he got it within the grace period of my lease. He got it a day after, but said it was not a big deal to him as long as he knows it is on the way. Well this month, I saw this in my bill pay to my landlord.

Payment check # 96400987 was sent to Blake Scholten on 01/26/2006 and delivered on 01/31/2006. Funds were withdrawn from your MYACCESS CHECKING- account on 01/31/2006.

Sweet... the bank is actually sending the bill pay checks out before the money is even in my account. I wonder how long it will take before that is abused?

Comments

[redbackfur.livejournal.com]

I would not call myself paranoid. I do a lot of online transactions. However, I do not trust certain types of bank transactions. I will never have an ATM Card with the VISA logo on it. Why lose any float? Also, if there is a disputed transaction on a check card, you are far more screwed than on a Credit card.

I actually enjoy writing my checks. In addition, many of my bills are paid by the 2 of us, so we both write checks for one bill. Auto withdraw won't take that into account.

[dhbearguy.livejournal.com]

Also, if there is a disputed transaction on a check card, you are far more screwed than on a Credit card.

That is only if a pin number is used. Otherwise, it has the exact same protection as a credit card.

[orange-groves.livejournal.com]

I got ripped off by B of A so many times that I finally closed all my accounts with them. They're the absolute worst bank.