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Started By
Message
re: Paying bills online- convenience fees
Posted on 2/15/18 at 9:22 am to tigerbaittrick
Posted on 2/15/18 at 9:22 am to tigerbaittrick
I wouldn't pay a bill online if there was a fee. Our electric company charges $5 to pay a bill online, so they get a check.
1
Posted on 2/15/18 at 9:22 am to tigerbaittrick
If you owe someone $100, why should they lose $3 paying interchange fees to Visa and MasterCard? That fee is them passing the convenience on to you....you still can do paper billing and send in a deck or even go pay in person with cash
Posted on 2/15/18 at 9:27 am to TigerMyth36
quote:
It is usually government sites that hit you with that nonsense.
This. The only time I can recall a convenience fee in the past five years is for paying property taxes online for an out-of-state rental home.
Posted on 2/15/18 at 9:58 am to the LSUSaint
quote:
If you owe someone $100, why should they lose $3 paying interchange fees to Visa and MasterCard? That fee is them passing the convenience on to you....you still can do paper billing and send in a deck or even go pay in person with cash
But some still charge you if you pay by check.
Posted on 2/15/18 at 10:42 am to spslayto
quote:
But some still charge you if you pay by check.
Cause the check is run thru a system known as check conversion, which is basically changing that check to a digital transaction, allowing the scann ed image to be used to move the money to the merchant quicker. So there are still applied charges by the bank/processor for that service. With many, it becomes not only enough to pay the fee, it also becomes a revenue stream and has to be claimed as taxable income for amount over the charges to the merchant.
Posted on 2/15/18 at 11:06 am to Will Cover
quote:
USAA must cover the charges.
If they pay charges then you the customer are paying them somehow.
Posted on 2/15/18 at 11:13 am to the LSUSaint
A lot of smaller government entities or utilities actually use a third party to process their online transactions though the payment portal is white labeled. Part of the fee goes to them, part to the processer and part to v/mc/d.
Posted on 2/15/18 at 11:15 am to weagle99
Most everything I pay is online. There are two that do not allow auto drafts of CC. They will draft your bank account with no added charges, but try to use your debit or credit card and there is a fee. I have my internet, water, and gas auto drafted from my CC. I have to manually go online to pay the power bill and it adds like $2 to use the card. No big deal, as I get more in cash back rewards than the service fee.
Posted on 2/15/18 at 11:19 am to Will Cover
quote:
Paying bills online- convenience fees
I pay everything through my bank, USAA. I'm not aware of any convenience fees. If there are any, USAA must cover the charges.
Most people paying a convenience fee are paying with credit card (rewards card at that). The utility or service company incurs a fee to accept the payment. Paying with a bank account wires money to the company which is a few cents per payment.
Posted on 2/15/18 at 11:19 am to TU Rob
Yeah, ach/ecs is dirt cheap for the merchant while cc fees average 2.5%.
Posted on 2/15/18 at 6:31 pm to weagle99
USAA is non-profit. If they pay something for you in this hypothetical instance, it comes out of would-be profit. Not necessarily coming back to the customer through other baked-in fees.
Posted on 2/15/18 at 6:37 pm to NCTiger17
The worst ever in history is none other than The Oliver apts in Baton Rouge. Pay rent online and the service charge is $ 17.00 each time. If u set up automatic it’s free BUT I set it up twice and it didn’t work and got hit with $25.00 late fee. Unbelievable rip off
Posted on 2/15/18 at 6:38 pm to tigerbaittrick
(no message)
This post was edited on 11/8/20 at 8:57 am
Posted on 2/15/18 at 6:46 pm to kywildcatfanone
quote:
I wouldn't pay a bill online if there was a fee. Our electric company charges $5 to pay a bill online, so they get a check.
If it’s KU only a debit card payment has a fee, if you do an electronic bank draft it’s free. That’s how I pay all of my bills.
Posted on 2/15/18 at 7:40 pm to tigerbaittrick
We charge one in my son's Cub Scout pack. The company hits us with a charge of $0.30 per transaction, plus 2.9%. Since we aren't making a profit on anything, we have to pass that cost along to the people who want to use a card.
But I haven't seen a private business charge a fee in a long time.
But I haven't seen a private business charge a fee in a long time.
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