Just paid my mortgage online for the first time

[Like2Plan]

I still wrote a check every month for the mortgage payment. I'm not sure why I hung on to that one.

I can really appreciate this. My DH thought I was a nutter, but I used to send our mortgage payment certified/return receipt! It was expensive, but I wanted proof that I sent the payment in plenty of time and the ability to track the payment (so I could take action if it didn't show up at the bank). The payment was a lot of money to us when we first bought our house (and nothing to sneeze at now ) and I couldn't afford to have a lost check.

Thank goodness for Electronic Funds Transfer (EFT). EFT gave me the reassurance that I needed because I could prove the payment had been made in a timely fashion. Automatic mortagage payments has saved us a ton of money over the years (especially when you compare the costs of sending the payment certified/return receipt. )

[cptacek]

I have things that are the same every month automatically paid...i.e., mortgage, truck payment, student loan, 0% interest credit card (the same payments every month which will pay it off before the 0% is over), gym membership (which will go away next month). Things that are different because of usage, i.e., phone, cable, cell phone, water, electricity, gas, credit card (PIF every month), I pay by logging into their web site and paying that way.

[FrugalFish]

I do most bill paying online, but mortgage is one that I'm still writing a check to each month. The reason for me not to do it is that once I sign up to pay online, I automatically sign up to stop receiving paper statements. Even though I keep track of all the bills pretty well, I still like to get them in the mail each month.

[myself]

I can really appreciate this. My DH thought I was a nutter, but I used to send our mortgage payment certified/return receipt! It was expensive, but I wanted proof that I sent the payment in plenty of time and the ability to track the payment (so I could take action if it didn't show up at the bank). The payment was a lot of money to us when we first bought our house (and nothing to sneeze at now ) and I couldn't afford to have a lost check.

Thank goodness for Electronic Funds Transfer (EFT). EFT gave me the reassurance that I needed because I could prove the payment had been made in a timely fashion. Automatic mortagage payments has saved us a ton of money over the years (especially when you compare the costs of sending the payment certified/return receipt. )

I must say that I'd have to agree with your "nutter" husband. If you get either a returned check in the mail, or you at least have the ability to see your paid checks online, you can also proved that the check was cashed by the mortgage lender. So, sending via certified/return receipt would be a waste of money, because you can (in worst case scenario), call your financial institution up and ask them if check # xxxx has been cashed. And I know that this service has been around for at least the last 20 years, because I would do that every once in a while, if I wanted to ensure that a payment was made (at the time, it wasn't a mortgage payment).

[Like2Plan]

If you get either a returned check in the mail, or you at least have the ability to see your paid checks online, you can also proved that the check was cashed by the mortgage lender. So, sending via certified/return receipt would be a waste of money, because you can (in worst case scenario), call your financial institution up and ask them if check # xxxx has been cashed. And I know that this service has been around for at least the last 20 years, because I would do that every once in a while, if I wanted to ensure that a payment was made (at the time, it wasn't a mortgage payment).

myself,
This was a long time ago as I have been doing EFT for quite some time now and I am very glad we have it.

But prior to that, I did not have on-line banking capability so I couldn't see if a check cleared in a timely fashion. If I waited for the statement, it would be too late if something went awry with the payment--by that time a late fee and penalties (and of course more interest) would be added on. (I wasn't going to take any chances.) And yes there were a couple of times that it did come in handy--I didn't have any trouble getting it put right because I had their signature on the card (and most importantly with the date they received it) which pretty much paid for the extra mailing costs.

Now, let me tell you about back in the olden days when we only had dial phones...

[myself]

myself,
This was a long time ago as I have been doing EFT for quite some time now and I am very glad we have it.

But prior to that, I did not have on-line banking capability so I couldn't see if a check cleared in a timely fashion. If I waited for the statement, it would be too late if something went awry with the payment--by that time a late fee and penalties (and of course more interest) would be added on. (I wasn't going to take any chances.) And yes there were a couple of times that it did come in handy--I didn't have any trouble getting it put right because I had their signature on the card (and most importantly with the date they received it) which pretty much paid for the extra mailing costs.

Now, let me tell you about back in the olden days when we only had dial phones...

Hehehe
Believe it or not, I was around for those days. I can also remember seeing Neil Armstrong land on the moon on a *gasp* black and white 19" console TV (of course, I was all of 5 years old at the time). And yes, my parents did buy the first home video game (Pong).

I believe I've heard that banks won't sign for stuff like that anymore (but I could be wrong).