Autopay - Ohjodi is right!

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floridacatlover
Posts: 3914
Joined: Fri Aug 28, 2015 7:21 am

Autopay - Ohjodi is right!

Post by floridacatlover »

Ohjodi has warned many times that having bills deducted automatically from a bank account can be risky. She worked in a bank for a number of years. Still, I have several bills deducted through autopay.

Yesterday when looking at my checking online, I noticed that my cable was deducted twice. It took three days for the amount to be credited back by the cable company.

I only have basic cable so it was not a large amount and I keep a good cushion in my checking. So it didn’t matter to me. But for many people this could cause bounced checks, particularly if the autopay error was for something big like health insurance which I also have deducted through autopay.

I’ve never had this happen before and so brushed off Jodi’s warnings. For me I’ll continue to use autopay. (Being alone, I’ve read horror stories of someone getting ill or in an accident and losing insurance because the premium lapsed.) But I’ll look at my statement more regularly!

I would not have even looked at my bank statement online except I wanted to transfer my cc reward there and get a 10% bonus. Good deal.

ownedbydogs
Posts: 484
Joined: Fri Aug 28, 2015 7:26 am

Re: Autopay - Ohjodi is right!

Post by ownedbydogs »

I have most of my regular bills all deducted from my credit card, only 2 that come thru bank, my budget bill from electricity and Medicare payment.

clemencia2us
Posts: 5761
Joined: Fri Aug 28, 2015 9:21 am

Re: Autopay - Ohjodi is right!

Post by clemencia2us »

no autopay for me!

Quilter51
Posts: 970
Joined: Sat Aug 29, 2015 6:04 pm

Re: Autopay - Ohjodi is right!

Post by Quilter51 »

I have three that are autopay in the sense that I go to their website and pay them each month via my checking account-nothing that re-occurs monthly. The rest are all electronic but I send them all on my end.
http://richlyretired.blogspot.com

gaylejackson2
Posts: 2938
Joined: Tue Sep 08, 2015 1:13 pm
Location: Utah

Re: Autopay - Ohjodi is right!

Post by gaylejackson2 »

Dh keeps suggesting that I put utility bills on autopay but I refuse!!

Jens_Cats
Posts: 465
Joined: Sun Aug 30, 2015 1:41 pm
Location: Jefferson County, WV

Re: Autopay - Ohjodi is right!

Post by Jens_Cats »

Nope! No autopay for me! Exception is small subscriptions like Medium.com ($5/month), Acorns ($5/week,) and Pandora ($5/month.) I've been burned too many times.

I pay some from my bank account, some via their website, but I still prefer to write and mail a check, if I have time to.

Jen M., WV
Sage Alley: My green/simple living blog:
http://sagealley.blogspot.com

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