Paperless Checking
I finally investigated paperless checking with my bank (TD) today to pay a monthly bill at my alumni club. I’ve been fed up with the Penn Club’s refusal to automatically bill my credit card or checking account each month, but after speaking with the board, it seems automated, electronic billing will not be happening anytime soon.
Traditionally, I’ve paid my monthly balances like so:
- Receive bill in postal mail.
- Write and sign a check to the Penn club for any outstanding balance
- Write my return address on envelope included with bill
- Buy stamps
- Place stamp on envelope, seal with check and bill included.
- Drop envelope in mailbox
Being lazy, every time I go through this process I consider leaving the club. Sometimes I let the bill slide for months and just pay in a batch to save time. One would think the club would implement an electronic solultion to correct the inefficiences induced by the old-fashioned paper check mail system, but they are too concerned about the 2% transaction fee to do so.
The new paperless checking process saves me a trip to the post office for stamps, saves a trip to the mailbox, and saves me a check. I’m surprised it’s taking me this long to discover paperless checking. I’ll definitely be payment my rent (and writing all other checks) this way in the future. Too bad I can’t get any points on my AMEX with this method.
