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MS Money monthly charge taken directly from my bank account for 15 years? RRS feed

  • Question

  • Hello! There has been a monthly charge on my bank statement for $2.95 a month for 15 years. I thought it was an account fee charged by the bank. I asked them about it and they said they had nothing to do with. I think the last version of MS Money I used was 2001 and stopped using the program all together the same year. Back then, they provided a service to pay bills electronically, but there was a monthly charge for this service, $2.95. I think it was called BillPay or something like that.  I cant believe I'm still and have been paying this charge when I haven't used MS Money in a decade and half.  The bank told me they cant block the charge and there is no phone number with the transaction to contact.  I have no idea where to start with this or who to contact.  Any help would be greatly appreciated.

    Thanks!

    Monday, August 24, 2015 3:23 PM

All replies

  • The charge may be from CheckFree or their successor. https://mycheckfree.com/br/wps?&esc=34637424&sp=10001&rq=gf&file=my_profile_service_setup_help.htmlt

    I expect you have lost track of any credentials you might have had for this.

    You might search this forum for "checkfree" to read the experience of others. Use the "Check forum questions" box.

    If the bank could not help me, I would open a new bank account. I would cancel all scheduled bill pays from that account. I would change any autopays that draw money from the existing account to draw money from the new account. Once all outstanding checks have cleared from the old account, I would close that account. That new account would probably be at a different bank if they are paying money out of my account and cannot tell me who is receiving the money.

    Monday, August 24, 2015 4:02 PM
    Moderator
  • Thanks Cal, I tried some different key words earlier and stumbled on a few of the threads, one of which included a phone number, 1-877-238-7277.  I reached a customer service rep there.  I’m still not sure what the name of the company is because the rep was very evasive, but when she mentioned a website I asked her for the address.  She gave me a bunch of keywords and found this sight checkfreecorp.com which she confirmed as being the correct address.   First, let me say that I trust Microsoft implicitly.  I will enter my bank account/cc card/DOB without hesitation when I know that Microsoft is asking for.  That’s exactly what I did with MS Money; I gave my bank account # to MS.  I’m absolutely shocked that somehow this most private information was handed over to this sketchy company by MS.  The rep found my account and said it was opened by MS Money in 2004, but closed MAR 2014.  She insisted there was no billing activity on that account when someone was billing me.  After further questioning she asked me for an email address that was associated with my MS Money account.  It’s an old Hotmail address I haven’t logged into over five years.  This where is gets really scary;  she said that I opened an account with them through their website using that email last MAR (the same exact day my MS Money account was closed) authorizing them to access my account and agreeing to the monthly charges.  It’s simply impossible.  When I told her that she said that she would refer me to their fraud department, but if she did she would be unable to close the account and stop the monthly billing.  This is unbelievable.  She said they even verified the account with a one dollar transaction during the month of MAR 2014 which afterwards, I checked with the bank and they couldn’t find this transaction it in FEB, MAR or APR of that year.  I told her to close the account. Having this company investigate themselves would be a joke. 

    Cal I noticed that you’ve been involved in the different threads I found on this subject.  Is your suggestion to close my bank account solely based on this monthly issue or am I at greater risk?  Clearly my account is compromised by this unethical company thanks to Microsoft.  Is there a chance that there could be further withdrawals from my bank account by them?  

    How did this even happen?  Is MS concerned that there’s unknown number of consumers out there paying a monthly charge to a company they can’t even reach because they trusted in the Microsoft name?  This fraudulent authorization last MAR is a criminal act, not some misunderstanding.  Is there a phone number at MS where I can talk to someone from Microsoft about this issue?

    Monday, August 24, 2015 5:59 PM
  • If I understand correctly, you have closed the account. It appears that you have stopped the bleeding.  I know you will be monitoring your statements more carefully in the future. Do check your bank statements to see if there are any other debits that are being made from that account... credit cards, utility bills, toll pass, IRS quarterly payments, and whatever. It will really burn you if one of them hits you with a $25 bounced payment fee. Also note that every time you give somebody a check, you are giving them your account number and routing number. Similarly, check to see if anybody credits dividends, social security, paychecks to that account. You will want to be proactive to get those switched to your new account.

    I doubt there is criminal fraud here. It sounds like you have done what you can at this point. I understand your anger. I remember when Microsoft Money decided to get out the billpay business. I don't remember if there was an affirmative action that required by the users at the time or if it was done by default. I was never a user of that service.

    Note that many banks let you download OFX or QIF  statements for Quicken or Microsoft Money free. I know you are not feeling love right now, but it could be that some personal financial software could be useful going forward. I get statements from my broker and credit cards via PocketSense which feeds the transactions right into Microsoft Money. That way I can see transactions while they are fresh in my mind. For my bank, it is not as automated, but it is still free. I download a statement from the bank's website occasionally. I enter payments to be made into my bank's website free, and then download the transactions later for my records.

    Monday, August 24, 2015 11:05 PM
    Moderator