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Technology Stocks : CheckFree (CKFR) -- Ignore unavailable to you. Want to Upgrade?

To: Benny Baga who wrote (3363)	4/21/1998 12:15:00 AM
From: Big Al	Read Replies (2) \| Respond to of 8545

Benny, As a CKFR shareholder I decided the other day to support them in their efforts and sign up for electronic bill payment at my bank's website knowing full well that CKFR is behind the transaction. To my unpleasant surprise I found out few things that I interpreted to be concerning. 1. I must pay $59.00 a year to pay my bills electronically with a of 50 transactions a month. I personally don't mind this charge but I can see where others might, even though they save a stamp, don't have to write the check, and could save an envelope. I think this is a bit of sticker shock for this service. 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. Coincidentally, those same funds may or may not arrive at it's destination until the due date. If one has an interest bearing checking account, I don't know if he or she likes the bank earning the interest on that money. Isn't this inefficient use of consumers or businesses float? I thought this service was billed as maximizing float for the customer. My take on these charges and the bank taking the float for themselves is that the banks are going to try to milk the the cow until that cow can't be milked anymore. This reminds me of the days of how the first calculators and PC's used to be priced until competition set in. The first users of this type service will pay a hefty price until the masses come calling. At what point will the banks give this service away in order to get potential customers to their site? Monthly fee and loss of float for the customer? Please tell me I am missing something here. What is the price for convienence?