>>>>I have to have a checking account with them.
PMB also requires a Checking account (that may or may not cost you money). Take a look at wingspan.com...
* Up to a 4.5% interest rate (4.59 % APY)**
* No monthly service fees and up to $5.00 rebate on ATM fees for 3 statement periods
* Option to select FREE online bill pay with your account.
Now they don't have bill presentment, but it is just a matter of time. I think most consumers would choose Free Bill Pay at their own bank over $9.95 bill presentment and payment at a third party web site (has to do with name brand and trust). Plus PMB requires a bill, you can't pay anyone (i.e. your Uncle, the Pool man, etc.), Wingspan.com can handle this with no problem. Same with NetBank, Wells Fargo, etc.
In addition, studies have shown that most people would like to view and pay their bills at their banks web site. What would be interesting is if you cancelled the PMB service, would they go back an notify all the billers of the address change, again. A true nightmare for billers.
>>>>MCI WorldCom realizes at least $1.00 in savings for every invoice that gets paid online". MCI saves money via bill payment, without presentment, convinces me that payment is good without presentment. Why does it not convince you? I mean, it is a fact.
If you read the whole article where MCI "saves a $1.00" is about both Bill Payment and Presentment and between the two they save a $1.00 (you need to read the whole article, but I don't have a good link).
To support my argument I would ask Why is MCI worldcom stating this now?, because CheckFree has been paying MCI electronically for years. The fact is MCI never really saw this cost savings because the payments weren't tied to a invoice number (plus cost of stamps, envelopes, and processing). Now with E-Bill the payment is tied to an invoice number, and both payment and presentment are electronic.
Benny(IMVHO?) |
