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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel? -- Ignore unavailable to you. Want to Upgrade?

To: Brooks Jackson who wrote (10321)	9/19/1999 5:31:00 PM
From: Erik T	Read Replies (3) \| Respond to of 20297

Regarding the float issue, even though most bill pay frontends use CheckFree for the backend processing, there seems to be a difference among the frontends on how the float issue works. When I make a payment from Wells Fargo bill pay, the date I say to make the payment (5 business days before the bill due date), the amount gets debited from my account, even though the biller won't actually receive the money for up to five more days. I lose the float! If you go through CheckFree Direct, or Yahoo!, the bank will not debit your account until the check passes through the biller's hands. You keep the float! So, Checkfree goes both ways. I get bill pay free through Wells Fargo for maintaining at least $5,000 combined in all my accounts with them, and I do not have to pay for stamps and envelopes. When I factor in interest lost on losing the float compared with stamps and not paying monthly for the service, it is a wash financially. Financially, I would be slightly ahead if I stayed with paper checks, but the convenience so far outstrips the slight financial loss, it is a no-brainer for me. As I understand it, Erik