<prompt> Human: Got a letter from Nationwide Biweekly Administration which says I can make two monthly payments instead of one and knock interest off my loan. How is this NOT a scam and why isnt this offered first normally? Biweekly Option HALF your Monthly Payment Example 800 monthly payment 400 biweekly  <response>: Youre actually making one extra payment per year because there will be two months where a third bi-weekly payment is made.You can set this up yourself with automatic transfers. I have a it half rounded up to the nearest 50 transferred to a separate account. I have my mortgage paid from there automatically. At the end of the year I have enough for an extra payment and a little bit of a cushion from the rounding up. I think if you make an extra payment a year you shave off 9 years of your mortgage. You could also take your payment, divide by 12 and add that amount on to your monthly payments to get the same effect. 