Paperless banking mistakes to avoid

Going paperless with online bill pay is a great and all the banks I think at this point are offering it as a free service.

One of the great benefits is all the trees you will save and another is the money you can save on the cost of stamps.

At this point if you have never been good with record keeping this is the time to get great at it.

With all the wonderful electronic devices that offers many applications so we can have ease of doing tasks on the run sometimes you may forget about keeping records of payments.

Steps to take:

Anytime you make a payment online you will receive a confirmation number, take the time to email it to yourself and have a mail folder for those items so if you need it they will be easy to find.

With any loan you want to confirm that the previous payment you made last month is actually being credited correctly. Many people just check to make confirm the company received the payment but did the correct amount go toward your principle amount? This is especially important on mortgages.

Therefore if it has not been credited correctly that is the time you want to contact the company and have it corrected.

Once the time has elapse that the person from the company told you it would take before you can see the correction then look online to confirm the correction is completed and the numbers are accurate.

I know that sounds funny but you won't believe how many times the person on the phone tells you it will be taken care of and nothing has been done. So now you have to call back and hope that this time you actually get someone that knows how to navigate the computer system correctly.

So just stay diligent becasue it is your money.