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I'm confused. I logged on to the Checkfree website tonight to change my password (I do it every 60 days) and I get this message about exciting changes that will be made early Sunday morning. One of the changes is:

Accelerated Payment Processing—You will be able to schedule payments as little as two business days in advance, instead of the previous four-day standard. (Business days do not include Saturday, Sunday or Federal holidays.)

But yesterday, UK Banker Boy and TheDreamer said that First IB will require four days processing time (Dreamer implied Checkfree was FirstIB's bill pay back end) instead of the previous two. ( and

If Checkfree is the FirstIB back end.. why would they decrease the processing time for us freeloaders and increase it for First IB customers?

AirtheSkeptic, Skeptically
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I believe FIBI was using Metavante and they are switching to CheckFree.

But according to CheckFree they offer two kinds of bill payment services. [The Free] One only does specific billers that they have relationships with then....which means all payments are done electronically, so can be done in 2 days. The other is a more generic bill payment service (described as have fees ranging from 4.95 to 12.95 a month), which can pay bills using either a corporate check or a laser check (inaddition to electronic payment). Using either check method would require them to mail the payment...which means it could take longer for the payment to reach the biller. But you enter the due date of the bill, and they guarantee that payment will reach by that date.

With the old billpay....the account is debitted 5 business days before the due date...and a check issued to the biller. If the bill can be paid electronically, the ACH is started 2 days before the due date (3 days if it is Discover....Discover's request). Under the new system, they don't distinguish between which of the 3 ways a bill can be paid. But, the account isn't debitted until the due date for electronic(ACH) or corporate check....a laser check is drawn from your account, so the money doesn't come out until the check cashed.

Actually, with the old billpay...the money is debitted at 9:30pm the night before processing starts on it. Only tripped me up the first month when I opened the account.....had a bill who's processing was to start on the last day of the month...and it would've gone after the direct deposit from my employer. Of course, they tried to take the money out the night before.....

Meanwhile with FIBI, billpay is still free for [Personal] Internet Checking account holders. I think it is something like 35 cents a billpay for Business accounts.

Before I switched to FIBI...I was paying $10 a month for my account, $4.95 to pay up to 20 bills a month online....and the final straw, post-Y2K...a $4.95/month charge for Internet access to my account.

I noticed the other day the name of my old B&M bank has changed again....don't know anything about why, etc. It was about 3 years ago that it changed its name.

Hmmm, I've been with FIBI for almost 2.5 years now (I opened the account on February 1st, 2000).

The Dreamer.
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