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Technology Stocks : CheckFree (CKFR)
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To: Eric Jacobson who wrote (3525)4/25/1998 6:13:00 PM
From: Brooks Jackson  Read Replies (2) of 8545
 
Eric:

Ckfr charges the banks. In the past they have said they charge about $4 per customer per month. The incremental cost to CKFR to service each customer is about $2 per customer per month, and inching down as CKFR steadily pays more and more bills electronically, rather than printing out paper checks and mailing them.

Actually it's more complicated than that -- CKFR charges on a sliding scale that goes down as volume goes up, as I understand it. But the basic idea is that once they hit profitability -- which has probably already happened -- the margins just get better and better.

As for your automatic payments, they are probably not handled by CKFR. Sounds like an automatic draft arrangement to me, where you authorize the biller to take money out of your account.

The $5.95/mo billpay service almost certainly IS CKFR on the back end. Which is really a good price when you figure it -- not much more than postage, really. And it puts YOU in control of timing.

When a bil comes in, I generally send instructions to pay it THAT DAY. No stamps to look for. No envelopes to lick. No mailboxes to look for and remember. And I can tell CKFR to pay the big bills just before they are due -- making the float work for ME for a change.

Try it. I bet you don't go back.
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