Internet Truckstop - Auto Pay Only

The best thing about a debit card is ..... You can get ahold of your bank and say it was lost or stolen then they turn it off. No more payments will come off of that particular card.

Alarm companies are famous for pulling that type of low down dirty non sense !!!!!!!!!! Low down dirty poopy heads !!!!!!

 

The Credit Union I belong to last year advised everyone they would no longer allow auto pay, either by check, debit, or electronic. They made the decision after receiving complaints from the members of payments being taken out more than once, and payments being taken out that were more than the billing amount. They said the problem most people do not realize is, once you authorize an auto pay, you are authoring the person, company, or entity to take whatever amount they want, when they want, and it is almost impossible for the financial institution to recover the funds. They also said if you dispute the bill, either a part of it, or the entire charge, the financial institution is powerless to get your money back, and most of the time you give up your right to dispute it once it has been taken from your account.
I just use the bill pay function, it allows me to control it. With mobile apps and using the cell network, not wi-fi, you can manage your account and bills remotely.

 

Use a credit card instead of a debit card for auto pay.

With a debit card they have your money taken directly out of your bank account and you are left having to fight to get it back if you are deputing the charge.

With a credit card they will suspend the payment if you depute it and whoever is trying to charge you has to fight for the payment.

 

AMEN! Auto pay is very good for the seller, but it sucks for the consumer! Read on

We were told the exact same thing at our credit union. They still allow it, but they sure don't recommend it.
It's to the point now, that even our local newspaper is requiring auto pay for their subscriptions. Needless to say, they lost a lot of subscribers over this.
And there are other businesses that want to move in this direction. Credit cards or other lenders that will offer a lower percentage on finance charges.
AIN'T GONNA HAPPEN IN MY ACCOUNTS!

Might work, I suppose. I just don't like the idea of, and will not be a part of auto pay.

Of course, I used to say the same thing about banking, paying bills etc on line. Now it's so common place that it doesn't bother me. But it probably should.

 

SAY WHAT??? You can bet I'll be checking on that!
I don't want social security to start pulling money out of my account, and I darn sure don't want California PERS to be able to do it!

I do use a separate debit card account for on line purchases. And keep that balance at a minimum until I need to use it for something. Online and phone banking do make life a lot more simple. But I still have this nagging feeling...

 

My debit card does not get used for anything except when I use it at a ATM for making check deposits or cash withdrawals. Every thing else is done on a credit card which I pay off (manually, no auto pay) before I have to pay any interest.

It's so much safer not allowing anyone direct access to my bank account and no chance of finding my bank account has been drained without my knowing it.