I love the convenience of paying bills online. That’s not to be confused with loving to pay bills, who does? I don’t have to waste my precious forever stamps and it saves some trees by reducing the amount of paper used. I also don’t have to file statements into my file bin for a couple years, major time saver there! Both now, and in the future! I manage and pay pretty much all my bills online. The only type of bills I get in the mail are medical/co-pays and most of the time I can pay those online too.
I know the days each of my debts/bills are due and I usually make my payments right after pay day. I have never once had a late payment on any of my debts/bills…until July, unfortunately.
Prior to my mid-July departure, I went through all my accounts to make sure I had all bills paid online before I left for my two week vacation. When I paid my US Bank credit card I had a small inkling that something hadn’t worked correctly but I shrugged it off. I’ve made this payment many times before, how could I make a mistake this time?
Well, I should have trusted my gut and double-checked. Better yet, I should have saved the confirmation code! When I got back from my vacation I found that I had a late fee of $25 for not paying and my account was past due! What?!
I called US Bank inquiring why my payment had not gone through but because I did not have the confirmation code, they would not waive the late fee.
I was never one to write down confirmation codes or print any pages “for your records” because the point of online payments was mostly to reduce paper! I now have a new outlook on dealing with online payments!
My desktop now has a new folder called ‘Receipts.’ I’ll either start putting print-screened images of payment receipts/confirmations in there or save the confirmation codes to a notepad document. This will never happen again! I definitely learned my lesson here. Learn from my mistake folks, keep track of those pesky confirmation codes!
But Kasey, Why Don’t You Set Up Automatic Payments?
I know, I know. Automatic payments make things a lot easier but I honestly only use them when it saves me money. My car insurance reduced my monthly payment by $5 for using auto payments. Sallie Mae offers a .25% interest reduction for automatic payments but (besides the horror stories I’ve heard) since I make 2-4 payments each month based on the accrued interest, I don’t see the point using that feature at this time. For all other debts it just doesn’t make sense to use auto payments when what I can afford to pay (above the minimum) fluctuates each
month pay period based on our spending.
Do have automatic payments set up? If you pay your bills online, do you save your confirmation codes or print receipts? Or are you still getting paper statements?