Checking account shared

pamr

After setting up a new payee for QuickPay I receive a message from the payee (bank/commercial account) thanking me for "adding a checking account" and lists the ABA # and Acct #. Why? I do not want the payees to have my account numbers. I cannot use Bank Bill Pay (even though I used it through August 28) because my bank does not work with Quicken (but did Quicken Bill Pay). Is Bill Manager actually setting up an autopay with the payee to use my checking account instead of sending an electronic payment?

Rocket J Squirrel

pamr said:

I do not want the payees to have my account numbers.

Your bank's routing number & your account number are printed on every check. You reveal them every time you pay by check, so they can't be considered confidential.

pamr

You miss the point, here. I've been paying my bills electronically for years and none of my payees added my checking account to their system. Now they have because that's how BillGo establishes the connection. It is not how QuickenBillPay or my bank handled bill payments. In addition, when bills are paid electronically, initiated at the sending financial institution, account information is not provided. I confirmed this with several financial institutions.

So, my question still remains: Is Bill Manager setting this up as a bill pay through the payee rather than initiating and sending the payments electronically? It is an important distinction.

Chris_QPW

Interesting question, and note I don't know anything for sure, and don't use the service, but looking at the posts on here from time to time it makes sense to me that in fact your last statement is correct.

I mostly base that on the fact that people have been reporting that with certain payees that they have been charged a fee.

It would also make some sense from what the the bill pay service would have to setup.  There might very well be a difference in the regulations and such of what a bill pay service has to setup depending on which way the transactions is initiated.  And it might be that "pushing" requires a stricter/more expense setup.

One thought on figuring out which way it is happening would be to see if it hits the "biller" first or your banking account first.

And now that I think about it, it makes sense that this is in fact a "puller service".
The new bill service specializes in accessing the biller's website and getting bills.  It makes perfect sense that they would also have extended that to pay from there.

Whereas Quicken Bill Pay and using Quicken Direct Connect to your financial institution would be an interface with your financial institution and have very little to do with the actual "biller".

Sherlock

pamr said:

You miss the point, here. I've been paying my bills electronically for years and none of my payees added my checking account to their system. Now they have because that's how BillGo establishes the connection. It is not how QuickenBillPay or my bank handled bill payments. In addition, when bills are paid electronically, initiated at the sending financial institution, account information is not provided. I confirmed this with several financial institutions.

So, my question still remains: Is Bill Manager setting this up as a bill pay through the payee rather than initiating and sending the payments electronically? It is an important distinction.

Quick Pay uses the payment service provided by the online biller to pay the online bill.

Quicken Bill Pay provided an online bill payment service where the payment is sent to an online payee.