On Wed, 26 Dec 2018 14:16:21 +0000 (GMT), charles
Post by charles
If I have to send a payment electronically to somebody else, I am asked for
both the name of the account and its mumber. The helps to ensure I've
typed in the correct number; we have 8 digit accoun numbers and I'm sure
it's easy to get the number wrong.
I make almost all my payments electronically. I do it through Quicken,
which then does it through my bank. I don't have to provide either the
name or number of the account, since Quicken already has that info.
If the payment is to someplace I've made payments before, I only have
to provide its name (or usually just the first couple of characters of
its name). The only time I need a name and number is for someplace
I've never made an electronic payment before.
There are three wonderful things about using Quicken for this:
1. Doing this automatically creates an entry in my check register. I
don't have to reenter the same info the way you would if you did it on
the bank's web site.
2. A payment to a major company is made by electronic funds transfer.
But I can also make payments the same way to very small companies and
individuals. If I do that, the bank mails a check, so I don't have to
pay for a stamp.
3. I can schedule the payment to made at some date in the future, so
if payment isn't due now, when I get the bill I can schedule payment
to be made when it's due, and not have to remember to pay it then.