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Technology Stocks : CheckFree (CKFR)
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To: Big Al who wrote (3388)4/21/1998 8:47:00 AM
From: Benny Baga  Read Replies (1) of 8545
 
>>>1. I must pay $59.00 a year to pay my bills electronically with a of 50 transactions a month.

That's less than I pay (currently I pay $5.95 a month). I agree it's a little sticker shock at first, but in reality you probably spend more on stamps a year than $59.00.

>>>2. The really disturbing part of this service from my bank is for payment to be guaranteed, I must click on the pay button five days before the due date. What happens is funds are transferred out of my account five working days before it's due.

No. The funds are not transferred until the day of the transaction(s). The five day period just allows them to deliver non-electronic transfers on time. In other words if you authorize a payment on the 20th, the transaction date would be the 24th, the money will not be transferred until the 24th (this could vary a day depending on the banks 'memo-post' system). CheckFree is not in the business of making money off of Float, although many banks are. Banks have been making money on Float for years and will continue to do so (as long as people keep writing paper checks).

I've used CheckFree for 5 years, and I don't think I could live without it. The one feature I like is that I can make a payment 2 months (or more) in advance, which is helpfull if I'm going on vacation.

Benny
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