(no subject)

[winterbadger]

So, I'm curious about people's banking habits. Some people set up automatic payments from their bank account (like having a utility automatically deduct its bill from their checking/current account, or having their bank automatically pay a set amount monthly to their credit card balance). I heard of this from friends in the UK long before I ever heard of it here, so I've always thought of it as a UK thing. But I discovered in asking around at work that quite a few of my colleagues here do it too. So, a poll!
[Poll #1461690]

I realise that many of my friends are *from* one country but living in the other (in some cases, that's how we became friends!), but I'm mostly interested in what people's preferences are by nationality and upbringing, not by where you happen to be at the moment.

Comments

[hobbitblue.livejournal.com]

Yep, I love Direct Debit, as do my parents, we all use it for everything from utlities to magazine subs to the car insurance, Sky tv, its a very streamlined system though of course you still need to keep a close eye on the bank account to make sure things are leaving when they should.

Its interesting to find US folk doing it, a lot of people I talk to seem to do things personally or in the bank via check/cheque rather than our way which always seems odd.

When I lived in Germany in the early 90s I used a similar system to pay my rent, they love their bank transfer there.

[winterbadger]

though of course you still need to keep a close eye on the bank account to make sure things are leaving when they should.

And this is exactly why I would never in a million years allow ANYONE the authority to debit from my account without my say-so. I gain nothing (I still have to track my bank account all the time to make sure they didn't screw up) and I stand to lose money.

One thing gets effed up, one person makes a mistake, and I'm out money I don't owe, and probably maying a huge overdraft fee on top of it. Maybe I get the money back, maybe (maybe!) the bank waves the overdraft fee if I can convince them it's their fault, but I've still spent time, money, and effort on something that is supposedly a "convenience".

If someone won't do business with me without I allow them direct, unsupervised access to my bank account, well, I'll just have to find a way to live without their goods and services.

[dativesingular.livejournal.com]

And it definitely does happen, so it's important to check your balance regularly. BT deducted our internet charge *twice* back in July, and then someone screwed up and our internet got disconnected, because apparently the BT phone provider and the BT internet provider are actually two separate countries, and for some reason I don't understand, funds can't be transferred. We got it sorted out, obviously, but not without an angry Mr. Singular on the phone for 45 minutes.

[winterbadger]

apparently the BT phone provider and the BT internet provider are actually two separate countries

Clearly the "megacorporation as proto-nation state" thing has really taken off! ;-)

[hobbitblue.livejournal.com]

Everything is geared up for direct debit over here though and it runs pretty smoothly (well, maybe 3 glitches in a decade for us? not bad going..). I'd hate to have to spend time sorting cheques and making direct payments and remembering to do them on time and allowing extra time for things to clear, ugh.

each to their own though, and I'm not sure I'd been nearly as sanguine about US banks and companies taking charge, they seem less... organised.. when it comes to their customers.

[winterbadger]

I'm not sure I'd been nearly as sanguine about US banks and companies taking charge, they seem less... organised.. when it comes to their customers.

So far all the horror stories I'm hearing are from UK banks...

[hobbitblue.livejournal.com]

You're clearly not going to be converted then :)

[winterbadger]

Well, not based on the evidence I've heard! :-) It sounds like UK banks are even less reliable than US ones, and over 15% of people who do direct debit report having problems with it! Whereas none of the people who don't have direct debit have had problems with it... ;-)



(This is, of course, a highly unscientific poll. What I find most surprising about all fof this is that, in fact,t he number are bearing out my initial impression that this is more common practice in the UK than in the US, it's just more common in the US than I thought. What surprises me most about this is that I've gotten the impression--again, anecdotally, from my editorial colleagues--the UK folks tend to be *much* more paranoid about identity-theft and general online security issues than US people, which makes their willingness to use DD that much stranger. Another impression I should test, perhaps...)