I signed up with PayTrust about two months ago. I like their overall idea and process:
- You change your mailing address for your bills to PayTrust’s secure processing address
- You can add your expected bills to PayTrust, or just wait for them to start telling you they received bills.
- If you haven’t pre-configured your bill to arrive at PayTrust, they will alert you of an unanticpated bill, and you can go in and setup a biller for the bill.
- If the bill is expected, they email you who the bill is from, how much it is, and when its due.
- You can pay the bill via PayTrust (direct debit from your bank account) or via another mechanism (I use Quicken‘s Bill Pay integration with Bank of America).
- If you want to see the bill, you can login to PayTrust and via your bill online. You can even download a PDF of the bill.
So far this has worked pretty well. I haven’t had any issues, and I haven’t lost any bills (that I know of).
What would I change?
- Its a bit disappointing that even though Intuit owns PayTrust and Quicken, there’s not any integration between them. I would love to see my PayTrust bills show up in Quicken and I could just pay them from my Quicken interface.
- The direct debit to make a payment gets taken out ~5 business days prior to when you want it to arrive at the biller. Bank of America doesn’t charge me till the date I want it to arrive there – even though they probably did send the money earlier. Bank of America treats it more like writing a check: it’s not really “arrived” until the other party has actually received the payment.
- The quality of the scan is somewhat poor. At home I was scanning ~600 dpi, it looks like the scans PayTrust makes are around 75-100 dpi. Its generally legible, but c’mon, space is cheap!
PayTrust Rating: 
