August 30th, 2010

Review: BillFloat – Can’t Pay Your Bills? They Have you Covered (For A Fee)

151 Comments | Twitter | |

billfloat

It’s the 1st of the month and time to pay the bills. After unexpected medical bills or some other financial emergency bungled your budget earlier this month, you realize there’s a bill or two your funds can’t cover. What do you do? You float it.

BillFloat, founded in 2009 and incubated by PayPal, has a simple, fresh solution to an old problem—what to do when you can’t pay the bills.

Instead of turning to Mom and Dad, friends, expensive payday loans, high-interest bank loans, or skipping payment altogether and risking the consequences (penalties, credit damage, getting services terminated), BillFloat pays your bill for a fee as low as $4.99 and you pay them back within 30 days. Plus, the site requires no credit checks and uses its own “decisioning engine” to determine qualified customers.

Here’s how it works:

  1. Sign up as a BillFloat customer for free, where you provide basic contact information as well as social security number, banking routing, account number, and bank username and password. This information is required to verify your bank account to ensure your ability to repay. BillFloat also assures that they use the same financial security and data protection that big banks.
  2. Select from over 3,000 billers in the database, such as cable providers and insurance companies, to pay your bill direct to them. Input your bill amount, date that BillFloat should pay it, and Billfloat gives you a fee depending on how high the bill is. For example, a $60 Comcast bill has a $4.99 service fee, while a $225 All-State car loan bill has a $14.06 fee.
  3. Pay back Billfloat within 30 days.
  4. As a bonus, when you pay back BillFloat on time, your Bill Payment Power goes up and BillFloat can extend you more credit to pay bills (up to $1,000) and lower your fees.

In a nutshell, you pay a super-low fee to float your bill for awhile, get a 30 day extension, protect your credit, avoid service termination, and use a flexible, affordable alternative to mainstream bill-payment options that otherwise cost you money (expensive loans and bank fees) and stress (borrowing from family).

So what’s the catch?

It sounds like a savvy service that is ripe for recessionary times when cash is tight for struggling consumers. What makes it dangerous is that it’s so easy and affordable to do. It can initiate a nasty habit of relying on BillFloat to float your bills if you are prone to paying late or breaking the budget. Plus, the Bill Payment Power is a clever incentive to snag repeat customers by giving an incentive to keep using BillFloat to float bigger bills for higher fees.

“We will provide consumers relief from the $32 billion in overdraft protection, non-sufficient funds, and late fees that are paid by American families every year,” said BillFloat’s CEO to TechCrunch. As a last resort when you are strapped for cash and bills are piling, BillFloat is one of the better alternatives out there to keep up with payments. But only once in a blue moon. Remember that your best, fee-free bill payment option is to budget to make sure you never have to rely on any other bill-paying option other than yourself.



Bottomline: BillFloat is a start-up with a new, low-cost bill payment service that covers your bill and gives you a 30 day extension to pay back.

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151 Comments

  1. Hi Mike,
    Thank you for posting about BillFloat. I’m Lisa, a customer support representative from BillFloat. I will be more than happy to speak with you personally about any questions or concerns you may have concerning BillFloat. While this forum has been an area for some users to request help about a specific issue they are having, there are additional areas where you can see additional experiences from users floating a bill. Feel free to view our Testimonials page on Facebook here: https://www.facebook.com/billfloat/app_221460014534454 and e-mail me directly at support@billfloat.com with the subject line, “Attn: Lisa” with any additional questions. Thanks again for posting and have a great evening!
    Best,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. BillFloat Customer Support at 3:55 pm on September 10, 2012
  2. Hi Steve,
    I’m sorry to hear about your experience getting in touch with BillFloat. I will be more than happy to get in touch with you and discuss your account and concerns in detail. Please send a quick e-mail to support@billfloat.com with the subject line, “Attn: Lisa”. Thank you and I look forward to hearing from you.
    Best,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. BillFloat Customer Support at 3:57 pm on September 10, 2012
  3. Hi, billfloat said my payment is paid but checking my tmobile phone bill, there were no payment posted.

    chanboupar thou at 7:18 am on September 17, 2012
  4. Hi Chanboupar,
    Thank you for posting. I will be happy to take a look at your account and provide additional help for you. Please send a quick e-mail to support@billfloat.com with the subject line, “Attn: Lisa”. Thank you!
    Best,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. at 1:53 pm on September 17, 2012
  5. I have been online trying to contact customer service with an urgent issue and I have been on the phone for over an hour to speak with someone and have been hung up on 4 times!!! This is crazy.

    Said Cortijo at 4:07 pm on September 17, 2012
  6. Hi Said Cortijo,
    Thanks for posting about BillFloat. I’m sorry to hear about your experience contacting us. I will be more than happy to help – please send a quick e-mail to support@billfloat.com with the subject line, “Attn: Lisa” with specific details about your issue. Also, we’d like to double-check on our phone system, so please include the phone number you called when you were hung up on in your email. Thank you again and I look forward to hearing from you!
    Best,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. at 10:34 am on September 18, 2012
  7. I guess billfloat is punking us ,because I can’t even log onto the site.

    Theresa at 5:41 pm on September 29, 2012
  8. I have attempted to reset my password in order to login and use BillFloat for the 1st time. Every attempt has been unsuccessful. I have followed the link, to no avail. It is frustrating because I am hoping that BillFloat can cover my Metro PCS bill which is due today! I need that temporary fix, in order to stay in touch with the hospital where my father is, due to a stroke this week.

    Demetria at 8:37 pm on September 30, 2012
  9. Hi Theresa,
    Thank you for posting. Are you still experiencing an issue using the BillFloat website? I will be more than happy to help. Please send a quick e-mail to support@billfloat.com with the subject line, “Attn: Lisa”.
    Best,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. at 10:01 am on October 4, 2012
  10. Hi Demetria,
    Thanks for posting about BillFloat. Are you still experiencing a technical issue with the website? If so, please send a quick e-mail to support@billfloat.com with the subject line, “Attn: Lisa” and I will be happy to help.
    Best,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. at 10:03 am on October 4, 2012
  11. My payment was due on the 7th of November, it did not take it out my account when i had the available funds, now every day 10 dollars is being taken out my account. What its Going on? I want answers now !

    angela lugo at 2:51 am on November 17, 2012
  12. My payment was due on the 7th of November, it did not take it out my account when i had the available funds, now every day 10 dollars is being taken out my account. What its Going on? I want answers now !
    Please

    angela lugo at 2:51 am on November 17, 2012
  13. SCAM! I borrowed to pay MetroPCS for a phone and now my account with these thieves is totally screwed up. They do not respond to email in a timely fashion, they are impossible to deal with on the phone. No one knows how to solve my problem. Their phone system hangs up on me and they do not return calls. They reply with canned responses to emails which are totally useless.

    Whatever you do avoid these jerks like the plague!!!

    John Payne at 5:50 pm on November 28, 2012
  14. I tried to sign up and now my account was billed twice, but bill float is not showing my initial payments, plus my account was over billed… help…. I need the money back in my account and bill paid.

    altravise at 4:41 am on November 30, 2012
  15. I have tried to log on to the website billfloat.com, I’ve tried to wait for live representative to answer my question. The site will not let me log in, it keeps telling me my e-mail has already been USSR. How can I get the help I need asap.

    Cassandra Ford at 9:52 pm on December 2, 2012
  16. Hi Angela Lugo,
    Thank you for posting. I will be happy to answer your questions concerning your most recent transaction with BillFloat. Please send a quick e-mail to support@billfloat.com with the subject line, “Attn: Lisa”. Thanks and we hope to hear from you soon!
    Best,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. at 3:10 pm on December 3, 2012
  17. Hi John,
    Thank you for posting. We’re sorry to hear about your experience floating a bill with BillFloat. Please send a quick e-mail to support@billfloat.com with the subject line, “Lisa”. I will be happy to get in touch with you personally to resolve any outstanding issues or questions you may have. Have a great week!
    Best,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. at 3:22 pm on December 3, 2012
  18. Hi Altravise,
    Thanks for posting. I’m Lisa, a customer support representative from BillFloat and will be happy to help. Please send a quick e-mail to support@billfloat.com with the subject line, “Attn: Lisa”. Thanks and have a great week!
    Best,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. at 3:23 pm on December 3, 2012
  19. Hi Cassandra,
    Thanks for posting! We will be happy to help. Feel free to visit this link to reset your password: https://www.billfloat.com/users/forgot If you continue to have issues logging in after doing so, don’t hesitate to contact me directly at support@billfloat.com with the subject line, “Attn: Lisa”. Thanks again!
    Best,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. at 1:59 pm on December 4, 2012
  20. STAY AWAY FROM BILLFLOAT, LUCKILY THEY NEVER GOT ME HOWEVER I HAVE HAD TO CONTACT THE BANK. AND CREDIT BUREA TO STOP EVERYTHING, REAL PAIN!THEY DO NOT ANSWER THE PHONE EVER, AND EMAILS ARE GENERIC. SCAM ARTIST!!!

    justice for the consumer at 7:29 am on December 18, 2012
  21. THIS REP LISA IS ON EVERY SITE RESPONDING TO NEGATIVE FEEDBACK, SO SHE IS GENERIC AS WELL, CHECK FOR YOUR SELF, GOOGLE “BILLFLOAT SCAM”

    justice for the consumer at 7:30 am on December 18, 2012
  22. Hi Justice,
    Thank you for posting about BillFloat. We apologize for the issue you experienced getting in touch with BillFloat. If you have any outstanding questions or concerns, please get in touch with us at support@billfloat.com with the subject line, “Attn: Lisa”.
    Best,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. at 5:33 pm on December 18, 2012
  23. Started to enter bank info: and it all ended there info entered was declined.Now what happens to all info that I entered? Is it floting around some where? Now What!? How do Iknow what happened; is my bill going to be paid? I HAVE GONE THRU THIS PROCESS TWICE THIS’ES VERY AGGRAVATEING,I’M AWARE THIS’ES CONSIDERED SHOUTING BUT I’M PISSED(SORRY)!Instead of helping me with my bill this has done nothing but aggravate me.Contact me at my e-mail ”Asap”! Thanks

    Rita Buccigrossi at 12:17 pm on January 9, 2013
  24. Hi Rita,
    Thank you for posting. We apologize for any issues you had using BillFloat. We can assure you that you are asked to log into your online bank account during the BillPay loan application process to electronically verify your account and your ability to repay. This connection is “read only” and BillFloat uses the same high levels of security that are used at the largest banks and financial services institutions. If you have any further questions, please don’t hesitate to contact us at support@billfloat.com. We will be happy to help!
    Best,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. at 3:00 pm on January 14, 2013
  25. I cant pay my bills this hakeem worthy , i need some help my cable community is verizon is 1,000 dallars i need help right away!! i need helped so helped me please

    Hakeem worthy at 4:02 pm on January 30, 2013
  26. I used bill float succesfully to pay my direct TV bill. There was no issue at all. As as matter of fact I was satisfied with the service. Well two months later I need to float another Direct TV bill and it doesnt work. Im guessing you can only float bills monday thru friday. Sunday doesnt work.

    Sharon at 9:25 am on February 3, 2013
  27. This service is a complete scam. Quite literally, Billfloat is a white collared loan shark for major corporations. In my case, not only did Billfloat double charge my account (stealing $130 instead of the $65 they were supposed to take), but the company is putting me through a run around about getting my refund and basically making ME prove to THEM that they took my money (having to send bank statements to get my refund). It’s ironic how it only took Billfloat 2 days to take that money out of my account, yet it’s going to ultimately take me about 3 weeks to a month to get my full refund. I will never recommend their service to anyone again!

    Amanda Montague at 10:31 am on February 7, 2013
  28. Do not get involved with Billfloat. I tried them out right after I’d been hired to start a new job, I was very short on cash until my first payday and used them to cover a $100 bill. That part worked fine, but when it came time to pay them back it devolved into a nightmare. They were unable to debit my checking account for some unknown reason despite everything on my end being in perfect order. They never explained why they were having such difficulty nor did they do anything to help me resolve the problem. I tried to pay them back no less than seven times all with no results. Then, after repeatedly calling and writing them in an attempt to get them to take my money, they turned my account over to an obnoxious collection agency after a mere three weeks without ever contacting me or doing anything to resolve the issue. Any business that’s too incompetent to collect their customer’s money doesn’t deserve your business. Avoid them and simply try to make payment arrangements with your creditors on your own unless you have hours and hours to waste on dealing with nitwits.

    earl sweatpants at 5:24 pm on February 8, 2013
  29. Hi Hakeem,
    Thank you for posting. I’m sorry but the maximum amount available through BillFloat is $200 when approved. If you have any additional questions don’t hesitate to reach out to us at support@billfloat.com.
    Best,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. at 1:50 pm on February 14, 2013
  30. Hi Sharon,
    Thank you for reaching out. Please send a quick e-mail to support@billfloat.com with the e-mail address you used for your BillFloat account so we can research the issue. Our system is normally available 7 days a week so the issue described should not be happening. Thank you for your patience and we hope to hear from you soon!
    BBest,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. at 1:53 pm on February 14, 2013
  31. Hi Amanda,
    We’re very sorry you’ve had this issue and we have been attempting to resolve it for you. According to our research, we have requested copies of your bank statements so we can rectify any issue. To date, we have not received any statements from you. As soon as you can provide those, we’ll be happy to resolve. You can fax the statements to us at 415-390-2615 or provide a scanned copy with your e-mail. If you have any further questions, please contact me directly at support@billfloat.com with the subject line, “Attn: Lisa”. Thank you for posting.
    Best,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. at 1:56 pm on February 14, 2013
  32. so i used billfoat to pay for a metro pcs phone that cost $400, after making 4 payments and calling to make sure my payment will be the last, they tell me that with interest and fees the total cost for me paying htem back is $746….RUN FAR FAR FAR FAR FAR FAR FAR AWAY… im serious…dont even think about it..

    Nika at 1:22 pm on February 26, 2013
  33. Hi Nika,
    Thank you for posting about BillFloat. We apologize for the issue you experienced. If you have any outstanding questions or concerns, please get in touch with us at support@billfloat.com with the subject line, “Attn: Lisa”. We will be happy to help.
    Best,
    Lisa R.
    BillFloat Customer Support
    support@billfloat.com

    Lisa R. at 4:58 pm on March 7, 2013
  34. Good day! This is kind of off topic but I need some help from
    an established blog. Is it difficult to set up your own
    blog? I’m not very techincal but I can figure things out pretty quick. I’m thinking about creating my own but I’m not sure where to start. Do you have any ideas or suggestions? Thank you

    Flora at 1:52 pm on March 9, 2013
  35. I used billfloat to float my time warner bill. It was suppose to be paid on the first. I got the e-mail confirming payment. I checked my time warner account and nothing has been paid.. I think I made a mistake using bill float.

    Michael Cortez at 11:56 pm on April 1, 2013
  36. I’ve been using billfloat since July 2012 and I’ve never had a problem. Thanks billfloat

    francisco at 2:32 pm on April 4, 2013
  37. Appreciating the persistence you situate hooked on your blog and exhaustive in rank you bestow. It’s abundant to come crosswise a blog every once in a while that isn’t the unchanged out of date rehashed pertinent. Admirable read! I’ve saved your site and I’m adding your RSS feeds to my Google account.

    Florencio Trew at 9:05 pm on April 9, 2013
  38. I am having issue with smartline of credit. I have applied and got approved, but I havent received my money yet, it has been 6 business days. I have talked to the tier 2 dept., they dont know why I havent received my funds yet, not am I able to go onto the website and review my information. Are you able to help..

    Corey at 7:52 am on April 24, 2013
  39. Hi Corey,
    Thank you for posting about SmartLine. We apologize that you are experiencing this issue. Please contact us at SmartLineSupport@billfloat.com using the e-mail you opened your account with and we will be happy to help.
    Best,
    Lisa R.

    Lisa R. at 5:56 am on April 26, 2013
  40. This company, Bill Float is a complete scam. They take your money and then claim you haven’t paid them. I reported them to the FBI. They will probably be out of business and in jail shortly.

    Fred at 11:59 am on June 22, 2013
  41. Bill Float site offered me a loan thru Smartline, a division of Billfloat. I have been approved for $750 since April and it would not transfer to my bank. after many hours on phone with customer support, I am told to reapply. now when I get to bank verification I get this error over and over and over!

    Uh-oh! Something unexpected occurred
    Your application cannot be processed at this time
    Please take a minute to tell us what just happened – send us an Error Report so we can let you know when the issue is resolved.

    I feel I am entitled to the $750 I was approved for, and waited long enough. besides, smartline will get quite a bit of interest on their loan, and automatic withdrawals.

    there is no excuse for this it is unacceptable way to do business! don’t tell me to change banks or my bank is unable to be verified, because Bill float, same company has it verified in the system already!!

    Teresa at 4:00 am on July 3, 2013
  42. For a Company that says they don’t do credit checks why do they ask you for your social security info? Sounds fishy to me..

    Amonee at 1:44 pm on July 16, 2013
  43. This article has a lot of great info, but the comments are awesome too. I think the best thing anyone can do is plan ahead to avoid debt in general. If you know what you have to spend, you can be smarter about how you spend your money.

    Mike Della at 10:48 am on August 12, 2013
  44. Beware if you bank with a credit union, as Billfloat does not/cannot use the bank verification with credit unions! In other words, for credit union customers, Billfloat is useless.

    Kristine Whittaker at 1:50 pm on August 28, 2013
  45. I’ve tried several times to use this service but everytime I try the site says my metropcs phone is missing? I have been on hold now for 23 minutes trying to get answer.

    Doug Perrine at 10:06 am on October 26, 2013
  46. I have been paying back a 209.00 bill for a phone i bought at metro pcs through bill float. 40.00 has been taken out of my checking account since august of last year. They just took another payment this past february…..i am no math genius but i know they have crossed the line. I have called and emailed no response. Between my wonderful bank wells fargo and the fbi these folks will be gong down

    Donise M at 10:56 am on February 25, 2014
  47. Bad experience with smart pay, I went to the metro store to purchase a phone, I had my money to do the purchase and the rep started to introduce me to Bluetooth and other stuff to go with the phone, I told her I had only money to purchase the phone then she said that I could get credit through smart pay.. She had me doing all my purchases on credit and she wanted me to max out the six hundred credit, I told her no I just wanted a few items with the phone. My purchases came up to about three hundred and change and I had to pay some money at the time of purchase I Had a balance of about two hundred and change and u have to give them automatic debit from your debit card. This started in sept 2013 I was suppose to pay it off in three months but since this was coming out automatically I forgot and the ninety days passed. This is now six months and they are still taking money i out my account. I called and ask them what was my balance they told me $67 left and I have two more payments of $51.17 I can either pay off $57 right away and close the account or make two more payments. They are rip off they know that if you bother with them in the first place you might not pay off in ninety days and this is how they capitalize on you. Don’t use them borrow from a relative crooks .

    Maureen at 9:25 pm on March 24, 2014

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