S/NSS: USPS and Credit Union

[Markel]

The suckage: I mailed my January mortgage check in plenty of time for it to reach my credit union (Digital Federal Credit Union - a carryover from my days at DEC). But 10 days after I mailed it, I get home and look at the mail and find that the USPS had decided to deliver the check to me! The routing code printed on the envelope had been crossed out with a Sharpie, and someone had even written TO: next to the address window (showing the credit union address) on the envelope. By this date, the payment was already overdue.

I called the credit union right away and explained what had happened. The next day my wife took the envelope to the post office and ended up talking with the postmaster. He gave some explanation, and offered to re-send the letter in a USPS envelope (at their expense - such a deal).

A few days later I get a "missed payment" statement for the next month's payment which included somewhere around $48 in late fees.

The NSS: Today I called the credit union, again explained what had happened, and asked if they could verify that they had received the payment (they got it yesterday). I then made some comment that I guess I would be eating the $48 in late fees courtesy of my friendly post office. The guy took some information and said he would take care of removing the charge.

[DarkFury]

This is why I pay my mortgage with electronic banking through my credit union.

Guaranteed payment within 2 business days... no worry about the Postal service and it's FREE.

[Markel]

This is why I pay my mortgage with electronic banking through my credit union.

Guaranteed payment within 2 business days... no worry about the Postal service and it's FREE.

I can schedule automatic payment through my local bank checking account. I told the guy at the credit union that I'd probably be setting that up.

[DarkFury]

I don't use the automatic payment... just because I like to verify WHEN the payment goes out each time. However, I can say that I've saved a ton on stamps since I started "electronic bill pay".

[oblongmelon]

I like to pay bills with money orders instead of checks. That way you can track the date they were purchased ..and basically sent out (why would you buy a M.O. and not mail it out on time right?)

[Prngr44]

I like to pay bills with money orders instead of checks. That way you can track the date they were purchased ..and basically sent out (why would you buy a M.O. and not mail it out on time right?)

Isn't that like doubling your unnecessary fees? You have to PAY for the money order, then you PAY AGAIN to mail it??

Over time it doesn't seem like a very cost effective way to pay your bills.

[guiseppewv]

Isn't that like doubling your unnecessary fees? You have to PAY for the money order, then you PAY AGAIN to mail it??

Over time it doesn't seem like a very cost effective way to pay your bills.

In my opinion, there are way too many added expenses to do it that way.

I think the electronic payment is the best way to go. My bank is going to make sure it is executed as scheduled or they will be eating the late fees.