Online Payment Late

I scheduled my payment to process on 8/15/2022 to US Bank back on 7/23/2022. I noticed that the payment was proudly announced as paid by Quicken on 8/16/2022. US Bank proudly announce a $40.00 late fee assessed to my account. Do I have any recourse, or is this a suck it up cupcake moment?

Comments

  • UKR
    UKR SuperUser ✭✭✭✭✭

    If the due date was 8/15, IMHO you should have scheduled payment to occur 2 - 3 business days before due date, to cover unforeseeable delays and weekends, holidays.

    My 2cents' worth, if I may:

    I don't use Bill Pay services or Bill Manager at all, neither the one from Quicken nor the one offered by my bank. Since time "B.I." (before the Internet was invented) I have set up almost all of my recurring payments as Direct Debit, PAC Draft, Autopay, APS, whatever the biller calls it. Using the biller's website, I authorized the biller to electronically debit each payment directly from my checking or credit card account on due date. Now I can sit back, relax and wait for it to happen. Instead of  having to arm-wrestle Bill Manager into making payment on time I let the biller do all the work for me.

    When I get notified of a new statement having arrived, usually by email, all I have to do in Quicken is to run a regular scheduled reminder to record the transaction. Haven't missed a payment in many years.

    I recommend you do the same instead of fighting the Bill Manager windmill, missing payments and getting slapped with penalty interest rates or late fees.

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    I do what @UKR suggests (for something like 30 years), but if you are going to use any "bill pay service" it should be the one at your financial institution.  If they don't get a payment to the biller on time you at least can complain to them.

    With the Quicken Bill Manager, you have Quicken Inc which pays a third party (which they will not allow you to contact directly) to do the actual payment service.  So, you will be faced with trying to "talk through Quicken Inc" to get any kind of resolution, which in my opinion is just insane.

    Note that a late payment not only costs you the $40, it might affect you credit score.
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  • Mark73012
    Mark73012 Member ✭✭
    Thanks for the thoughts. I'd used the old billpay service through quicken for years with zero late payments. This new Billing Manager software is terrible. I guess that was my fault for having used quicken for nearly 20 years and had confidence in the product. At my age and current score, a tiny hit is not an issue. I guess I have an unrealistic expectation that when you pay for a service, like these subscription fees that Quicken has boldly moved to, you do have the right to some expectation that services will be delivered promptly. Thanks for your insight.
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