Why isn't billpay more popular for auctions/sales?

[atblis]

After talking to my credit union rep, I've started using the billpay service. One feature I've noticed is that you can send money directly to people. This seems like it works great for paying for things, and it isn't Paypal!

This post arises from a recent purchase. I offered the billpay service to someone, and they were adamant that they want a certified check. What confounds me is that people will accept certified checks but balk at the billpay thing. How is a certified check less risky than a bank transfer by a known good service in billpay? If I am not mistaken, ultimately the check is just a paper slip telling them to make the same electronic transfer you'd be doing with billpay.

I haven't seen where there are any fees. Yeah yeah, it's a bank so they're there somewhere.

Some people don't like giving out their account info, but you don't do that with billpay. The other person never sees your account info. If receiving payment, the other person initiates and the credit union sends you an email with a link. You go to the banks/credit union's website and enter it directly. What's the big deal anyways, it's all right there on your checks anyways?

You get your money. Nobody has to leave home. The USPS isn't involved. It isn't Paypal. Fuds and their stupid certified checks. :banghead:

 

[Bubbles]

Wire transfers usually involve fees, IIRC my bank charges $15. Is this similar to BillPay?

I've used them for large(ish) and/or international transactions with no issues.

 

[atblis]

It is billpay. Billpay+ technically at my credit union. I haven't figured the fee thing out yet. I think you may have a number of free transactions per month.

Just as a clarification for some, Billpay is the name of a service, not simply what you're doing.

 

[atblis]

According to my credit union, there are no fees for the basic services. I don't know if there will be some on the receiving side. I've sent myself money between different banks and there were no fees.

The following is a help chat. I asked a few other questions as well. You can do direct transfers as well has have checks mailed.

Andrew: Is the check that gets mailed technically a certified check?

Gary: It is a check drafted on a settlement account.

Andrew: What does that mean?

Gary: When you schedule a payment in the bill pay. The funds are debited from your account on the day the payment processes and transferred to a settlement account. Then on the next business day we issue the payments either electronically or by check from the settlement account.

Gary: This way your banking information is kept private.

Andrew: Are there fees associated with the billpay services?

Gary: We only charge for payments made using the Rush Payment or Gift pay features.

Andrew: Ok

Gary: If there is a monthly fee for using the service, that is determined by the local branch of your credit union.

Andrew: Hmm. okay.

Gary: Is there anything more I can assist you with today?

Andrew: No that's it. Thanks.

 

[tarosean]

Wire transfers usually involve fees, IIRC my bank charges $15. Is this similar to BillPay?

Not quite, if you have your checking account set up to pay your bills online. Some banks can send a check to individuals through the same system.

 

[atblis]

Yeah, I just used it to send the guy (I nicknamed him Elmer) a check with the billpay service. No fees. Exactly the same transaction, except he now has to deal with a paper check.

 

[Tom Fury]

Consistently use Billpay

on GB purchases; usually explain that it lets me track when sent, received, and when cashed and by whom and that it provides some security for me.
Have on one occasion had to prove that payment was sent and cashed by someone in the store but not deposited and not recorded; That stirred up some stuff, but the seller was pleased to know about it...My credit union supplied me with photocopies of front and back of check that I submitted to the seller as proof...
If its' listed certified check, I haven't had a problem with anyone on GB yet.
I like it; I try to avoid doing payment for auctions any other way anymore.

Cheers, TF

 

[atblis]

You're using the paper check option on Billpay, Yes? Have you had success getting people to accept the direct transfer?

 

[RhinoDefense]

Never heard of "bill pay". Cashier checks and postal money orders have worked fine for years.