I just read this over on Consumerist: Consumerist - Commerce Bank/Metro Bank Shows How Not To Handle A Bank Changeover - Banks Apparently, they had a major failure when they switched their banking system over. Except instead of stopping to fix things, they just kept right on going. Reading the comments in there, customers are getting double- and triple-charged for bill payments, ATM withdrawals, and transfers. Worse, apparently customers are having a hard time convincing the bank that they really didn't send in that bill payment three times on the same day. Proof positive that you always need to stay on top of your financial information, and never -- EVER -- trust a company that you owe them money just because they said so. Companies make mistakes. A lot of mistakes.
Which is why I NEVER use a banks bill pay site. You are entrusting a third party to make payments on your behalf. I've researched the issue of protection and there is very little. I go to my creditors websites and have them pull them money out of my account. If there is no means to pay via their website (as in my water company) they get a paper check.
Same with me. I've never used my bank's bill pay. I either go to the creditor's website or I have an automatic bank draft set up (like for my mortgage and insurance payments, even have some cc take minimum payments so there's never a late pay). If I have a cc minimum on autopay then I can go pay the rest at the website.
I'd never use any automatic or scheduled bill payment options, either. Whatever bill it is, it gets done as a "one-time" only payment, each time. I prefer to know how much I have at all times, and know exactly when it's going someplace. Only takes a couple minutes once a month, and makes sure I can keep on top of things. That's just my preference...everyone has their own.
Sometimes I don't have time to keep up with all the dates. I know when the payment is due and what the amount is from the statement I get, so I can mark it in my checkbook and make sure the money is there. By going in and paying it each time I leave myself open for the possibility of missing a payment. I have several accounts with special terms like balance transfers, and setting up autopay means I'll never default on that card and lose those terms.
Metro bank sounds generic. Why did they change the name anyway? People in PA are going through a lot of headache with the switch. Bounced checks, debit/credit cards not working just to name a few. I hope Metro bank gets it straightened out. Consumers shouldn't have to suffer because of bank screw ups.
