Do you have a merchant that you pay every month (i.e., doctor, mortgage, etc.) that is exactly the same amount and had the unfortunate situation of having to contest that they hadn't posted the payment, and they say they never received it?
NEVER pay the exact same amount each month, add a dollar, or even 1-cent to this month's payment above last month's payment.
Get the picture, now you can not only verify each payment, but also know which month the payment was good for. This is great for accounting departments that are totally lax (incompetent) in their posting procedures. If you paid $20.00 each/every month, you may have a battle on your hands with the idiot on the other end of the telephone. This method puts you in control.
RE: Pay A Little Bit Over To Keep Each Month's Payment Diffe
By Dave the Rave (Guest Post)
I do something similar at the Gas Pump. I never "Round-Up". I always stop on an double number, like $25.66. Or these days more like $54.77. This way when I review my debit card bill I know it was all me!
I understand exactly what you are talking about. Sent in mortgage payment and they credited it to (guess) - future interest - when I specifically told 'em to use it to pay down the principal happened not once, but twice! Then they had the nerve to tell me that I hadn't paid on time! For a while, that company got monthly calls.
To GlennsMom I agree that payments on line are virtually trouble free; it's those payments that are mailed in to the smaller merchants that don't have a method of online payments that have been known to cause much frustration if all monthly payments have been exactly the same amount (ie; $25.00, etc.) You have lived a Golden Life if you've never had to dispute that your payment was not posted correctly..Your canceled check is your proof, but if some idiot mis-posted the payment, you're in for a long telephone conversation. Different amounts of payment eliminates this issue... they have to post the different payments as received. (you can bet that any mistake with their book keeping will be fought to the bitter end. They 'don't' make mistakes :)
I guess I'm missing something. If you write checks don't you have a reciept that can prove what you pay? Or if you do an online payment you are given a confirmation number (at least our bank does) so you can prove it. Why do you need more help than that? Like I said, I guess I missed something...
You have a very analytical mind! Thanks very much for this tip - I would never have thought of it, but it's ingenious, so I plan to follow it in the future. Thanks for sharing this with us and God bless you.
I have a similar system as Heaven4441 for paying my credit card or making deposits to my bank accounts, just by using sequential numbers, but never the same for at least 3-4 months; i.e.,$78.90, or $98.76 or $23.45, or $123.45, or $678.90...NEVER whole numbers ($50.00, $30.00, etc.) This has been easy for me to review my accounts and verify the transactions...
Excellent idea! I've always done the credit card payment like heaven4441 does (or pay entire balance) but never thought to pay a different amount on doctor, mortgage, etc payments! It would have saved me major headaches on a couple of disputes! Thanks for the great tip and I'll be doing it from now on! ;-)
It's great to find other people who do the same things that I do. I go a step further by 1.Example: on your credit card, if your balance reads $1948.48, if your minimum payment due is $20.00, then pay $8.48 over the amount due. In other words, whatever the last three digits are of the balance due, then if you pay that , then you know that that is what your practice is , and when you have to call, then you can back up your words by saying, "I always do it THIS way, and............" 2. When you use your credit or debit card to pump gas, always stop the pump on a number that is familiar to you.......the date of your birth,(04),house number,(90), whatever, but make it a number that is easily familiar to you, and switch back and forth between the numbers, (birthdate one time, house number next time, phone number the next time, etc.) Then, if there is a discrepancy, all you have to say is, this is my system............... It's good to find someone who thinks like I do! C. Heaven Locust Fork, Al.
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