CheckFree Holdings Corp. (CKFR), the next Dell, Intel? Message Board

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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel?

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To: Sam Biller who wrote (4030)	3/27/1999 7:58:00 AM
From: Sam Biller	Read Replies (2) of 20297

Interesting post from news:alt.comp.software.financial.quicken Question Help - I've searched the unofficial Quicken site and the online help and still dont understand what I'm doing wrong. Situation: I use Citibank to make online bill payments via Quicken99 I made payments to 10 different payees, the lead time was set to 4 days for all by Quicken After the payments cleared I saw that some of them were made eletronically but the lead time field in the online payee screen still reads 4 days - it did not update. I know that Citibank handles some of these as EFT as I used to do my online banking directly through the Citibank web interface. If I try to make a new payment to an EFT payee (e.g. GM Card) it still requires a 4 day lead time - if I try to change the payment date to something less than 4 days (or ASAP) it refuses and puts it back. This is just plain silly when all that will happen is that Quicken/Citibank will wait 3 days and then EFT the payment on the last day. My Questions: How can I make Quicken update the lead time to reflect the payees that are paid via EFT? The online help implies this will happen automatically when I do an online update but it hasnt for me. Is there a way to add a new payee in the future by picking them from some list of merchants that accept EFT payments (this is how the old citibank web interface worked - you associated the payee with an EFT entry at the time you created the payee) Answer I've stated this before but will state it again for the large number of new users to this group. There is no way that the user can change his or her lead times of the payees. If the lead time were to change it would be because the service that you're using (currently owned by Checkfree) will no longer change the lead time for the majority of payees. This feature was tuned down so to speak. The main reason for this was money, and here's why: Lets say you want to pay AMEX $10,000. typically AMEX is paid by some means (electronic, fedex, next day mail, etc..) that takes the money from Checkfree's account to Amex's. Checkfree then takes the money out of the customers account. Lets say that customer doesnt have the money. WHAMMO Checkfree then must fight to get it's $10,000 back. Now, by leaving the lead time at 4 days instead of 1 or 2, Checkfree has the option of sending that payment of it's own account or out the customers account. So for this reason, Checkfree has limits on amounts for customers based on how they want the merchnat to get paid. In short, the greater the amount of the payment, the greater the chance is the "check" is going to come out of your own account, and not Checkfree's. By having the lead time set to always be 4 days, this gives Checkfree the option to do that. I hope this makes sense the way I worded it. Bill Pierson ------------------------- I've often thought about the lack of lead time updates in my Quicken 99 where all lead times are set to 4 days. Sam (FWIW)

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