Re: Gear Grinding Part 5: The Story of the Broken Tooth
We've used automatic monthly withdrawals for insurance premiums for a really long time and have never had a problem, either.
The one entity with which I will never ever again allow automatic withdrawals from a bank account will be health clubs. My son had signed up for one while in high school to pay the monthly fee, but unbeknownst to him, once a year the health club also automatically withdraws a special assessment. It took many telephone calls and ultimately the threat of a negative publicity campaign, reports to the BBB, etc. to get that refunded.
Had it been a credit card account instead of a bank account, it would have been different. I find that the credit card companies are much more successful in getting disputed charges reversed than the bank. We almost never use the debit card any more, for example.
10 years ago, I would've said the exact opposite. Bill pay has come a long way. I use auto withdrawal with each entity (because I've had it set up forever anyway) and have never had a problem.
We've used automatic monthly withdrawals for insurance premiums for a really long time and have never had a problem, either.
The one entity with which I will never ever again allow automatic withdrawals from a bank account will be health clubs. My son had signed up for one while in high school to pay the monthly fee, but unbeknownst to him, once a year the health club also automatically withdraws a special assessment. It took many telephone calls and ultimately the threat of a negative publicity campaign, reports to the BBB, etc. to get that refunded.
Had it been a credit card account instead of a bank account, it would have been different. I find that the credit card companies are much more successful in getting disputed charges reversed than the bank. We almost never use the debit card any more, for example.