Pirate wrote:
Colo Native wrote:
that's why I don't do auto pay. Then they don't have your info.
I love auto pay. I can go camping and not worry about bills being paid. If you plan on cancelling, go into your account and cancel your autopay before closing out your account.
Billpay is great. But rather than giving the companies your account/credit card number, use your bank's system. You control how much is paid, you control when/if the payment goes out, you control when to cancel the payments.
When you give the company your numbers and authorization to withdraw money, they can abuse it. Even without abuse, mistakes happen, why give them the ability to make those mistakes.
I had an annual payment with a company through my credit card. The company went out of business and 11 months later the autopayment still went through. I had to wait for the credit card folks to confirm that the company went out of business before I got my money back. Fortunately it was only about $30, but it could have been a lot more.
