(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

[schizokitty.livejournal.com]

I hardly pay anything by hand. Things like utilities, mortgage, and other regularly recurring payments (certain charities, Netflix, Rhapsody, etc.) are autopay. I pay credit cards online, though obviously not by autopay, as I have to check the charges first. I usually set up autopay through the company who does the billing rather than through my bank directly. I could set up a few more fixed-charge paper bills (garbage, for instance) through the Bank itself, but it's more work than setting up through a company's website, so I haven't gotten around to it. ^_^

I'm not sure that online/autopay is much more dangerous than paper billing, for me, anyway. I've had paper bills lost in the mail, resulting in late fees and such, but those can be worked out over the phone. I've had a few (very few) cock ups with electronic transfers, and I've been able to fix those by phone, too. What I like about electronic payments is that I usually get an almost immediate confirmation of my transaction, with a confirmation number I can use to resolve any disputes. And I get two confirmations with credit cards: one when I set up the payment, and another when it actually posts. This is much easier to keep track of than paper, where I had to hope it got there on time, and, if it didn't, I didn't find out until the next month, with the late fee and all. ^_^

[winterbadger]

I don't have an issue with online payment. I pay almost all my bills online. I find that very convenient, especially when the creditor or the bank is set up to send me an email when it's time to pay them.

I have a big problem with my bank, or even moreso, some company, having authorisation to go into my bank account and take out money whenever they like. Even on this thread there's been a number of cases cited of such transactions being done when or for amounts that the account holder didn't authorise.

[schizokitty.livejournal.com]

I don't know how they "take out money whenever they like" -- there are forms and schedules and things. I'm sure there are opportunities for mistakes (what situation hasn't?) but I've had-auto deduct for utilities and Dharma Rain for years and have had no troubles.

[winterbadger]

I don't know how they "take out money whenever they like" -- there are forms and schedules and things.

Well, you would think that, but it clearly still happens anyway.