Path: utzoo!utgpu!news-server.csri.toronto.edu!cs.utexas.edu!usc!snorkelwacker.mit.edu!bu.edu!telecom-request From: GREEN@wilma.wharton.upenn.edu (Scott D. Green) Newsgroups: comp.dcom.telecom Subject: Re: All Monthly Bills --> One Bill Message-ID: Date: 21 Feb 91 16:29:00 GMT Sender: news@bu.edu.bu.edu Organization: TELECOM Digest Lines: 34 Approved: Telecom@eecs.nwu.edu X-Submissions-To: telecom@eecs.nwu.edu X-Administrivia-To: telecom-request@eecs.nwu.edu X-Telecom-Digest: Volume 11, Issue 145, Message 5 of 7 It's generally not in my nature to praise banking institutions for their service and value, but Mellon Bank's Bank-by-Phone product seems to be a leader, at least in comparison to other reports recently. First, participation is not limited to a select group of merchants; any merchant or individual that the customer designates can be set up with a Merchant Number for your use. One may designate automatic payments to be made to certain merchants (ie mortgage, loans, cable) while the rest can be on demand. The whole thing, of course, works through your touchtone phone. They assign your sixteen-digit account number, you pick your four-digit PIN. You may pay a merchant "immediately" (next business day), or designate a date up to thirty days in the future to pay a bill, allowing you to deal with all your bills in one session. In addition, you may transfer among accounts, check balances, check whether personal checks have cleared, issue stop payments on personal checks, and reach a live person, 8AM-midnite weekdays, and (I think) until 8PM weekends and holidays. The best part (aside from it being *free* with a minimum balance) is their follow-up service. Once you (correctly) enter a payment request, the bank assumes full responsibility for making sure that the payment is correctly credited with the merchant. A phone call to their live person is all it takes. They then deal with the merchant, and issue a letter to the customer detailing what happened. In cases where a finance charge was levied, it was removed without my having to be involved. I have even received from the bank copies of *their* cancelled checks showing the merchant's endorsement and pay dates. About the only downside that I can see is that I lose the float on my check, because my account is debited the day the check is issued. All in all, its a good product with excellent service behind it. Scott