Banks with Bill Pay Guarantee

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Most banks and CUs I deal with don't offer a bill pay guarantee (they would reimburse fees if a bill pay was late due to their fault). I could find Bank of America to be the only one but they suck Any recommendations for other banks that offer this; bonus points if they offer to pull money from other checking accounts like BofA.

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PNC has a bill-pay guarantee: On-time Payments / Your payments will be scheduled in compliance with the Online Bill Pay Service Agreement. If you have scheduled your payment properly and the payment is credited after the due date, we will reimburse you for late fees or interest charges you incur.

see: https://www.pnc.com/en/personal-banking/banking/online-and-mobil...

I've never had to exercise this guarantee, because they've never been late for any of my hundreds of bill payments over the past 6-7 years (since they took over my old bank). One nice thing about PNC bill pay that I've found is not universal: you specify the date you want the payment to ARRIVE, not when you want it SENT. Usually they make an electronic payment, of course, but this applies also to check-write-and-mail payments, e.g. to individuals or small businesses. I suppose they must stipulate a conservative timetable for those to allow for the USPS.

Been using PNC for many years and never had a bill late. Even if you enter a bill payer, they will switch to electronic payment if possible and this will shorten the time down to one day in general instead of 4 - these are business days.

Chase's only appears to cover that they'll send it when they say, which doesn't appear to be that useful.

https://www.chase.com/online-banking/online-bill-pay-guarantee

Discover has one : "The Service will bear responsibility for any late payment related charges up to $50.00 should a payment post after its Due Date as long as the payment was scheduled in accordance with the terms of this Agreement"

Chase has one too: "If we ever cause processing delays of your online or mobile bill payments or online or mobile payments to a Chase Loan or Credit Account made from a Chase checking account or Chase Liquid Card that result in late fees, we will cover 100% of those fees. This guarantee covers everything within our control."

I suspect most banks have a bill pay guarantee.

Navy Federal has a decent guarantee:
"The Service Guarantee
Due to circumstances beyond the control of the Service, particularly delays in handling
and posting payments by Billers or financial institutions, some transactions may take
longer to be credited to your account. The Service will bear responsibility for any late
payment-related charges up to $50.00 should a payment post after its Due Date,
as long as the payment was scheduled in accordance with the guidelines described
under “Bill Payment Scheduling” in this Agreement. "

https://www.navyfederal.org/pdf/applications-forms/NFCU_652.pdf

If your bank or credit union doesn't meet your needs, get a new one.

Thanks. Do any of them allow you to pull money from external accounts too like BofA?

freeka said:   Thanks. Do any of them allow you to pull money from external accounts too like BofA?Are you serious?

What do you mean?

I mean, what about support for Firefox 2.0?  Amirite??  Who's with me?

freeka said:   What do you mean?I mean after being a member on this site for 10 years are you really asking whether you can link an external bank account? I can't think of any banks that DON'T allow this. Some have restrictions on the total amount you can transfer in or out per day or per month, but it's usually in the hundreds of thousands, and the worst/strictest one I know is Citibank (100K/day and the same 100K/30days for incoming, and 2K/day and 10K/30days for outgoing).

Since Navy FCU, Bank of America, PNC, and Discover all use FiServ Checkfree as their bill pay provider, you can expect the bill pay terms to be similar.

scripta said:   
freeka said:   What do you mean?
I mean after being a member on this site for 10 years are you really asking whether you can link an external bank account? I can't think of any banks that DON'T allow this. Some have restrictions on the total amount you can transfer in or out per day or per month, but it's usually in the hundreds of thousands, and the worst/strictest one I know is Citibank (100K/day and the same 100K/30days for incoming, and 2K/day and 10K/30days for outgoing).

I meant that in the context of billpay. BofA allows you to billpay by ACH pulling money from any other checking or savings account you own.

Wells Fargo has a bill pay guarantee (link)
See this thread for a $250 signup bonus (YMMV) through February 17th.

Buckmann said:   Wells Fargo has a bill pay guarantee (link)

 

 
Yes, because Wells Fargo uses FiServ Checkfree for its billpay provider.  If the bank uses Checkfree, it will use the Checkfree terms, including the bill pay guarantee.  (see above).

freeka said:   scripta said:   freeka said:   What do you mean?I mean after being a member on this site for 10 years are you really asking whether you can link an external bank account? I can't think of any banks that DON'T allow this. Some have restrictions on the total amount you can transfer in or out per day or per month, but it's usually in the hundreds of thousands, and the worst/strictest one I know is Citibank (100K/day and the same 100K/30days for incoming, and 2K/day and 10K/30days for outgoing).I meant that in the context of billpay. BofA allows you to billpay by ACH pulling money from any other checking or savings account you own.Are you saying that BofA allows you to use an external linked account as the funding source when using billpay?
Firstly I seriously doubt this, and secondly I've never seen any billpay that allows it -- you have to use an internal account, and it almost always must be a checking account.



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