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


To: Sam Biller who wrote (4030)3/27/1999 7:45:00 AM
From: Sam Biller  Respond to of 20297
 
Investor's Business Daily, Page A2

Monday, March 29, 1999

To The Point
Making a Long Story Short
Trends & Innovation

Internet-based customer-care systems to handle billing and payment-related inquiries from consumers and businesses will be a $31 billion market over the next five years, says Killen & Associates.



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



To: Sam Biller who wrote (4030)3/27/1999 9:34:00 AM
From: Brooks Jackson  Read Replies (3) | Respond to of 20297
 
Dial-tone quality? ... Here's what I get this AM. I suspect AOL is the culprit -- they're very sluggish this AM for me -- but it's going to be a problem for CKFR any time this starts happening to millions of customers.

Connection timed out

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Description: Unable to connect to the site "www.mybills.com" for the document "http://www.mybills.com/".
The site is down, overloaded, or unreachable. Try connecting again later.

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