Paying bills online- Auto Pay or Bill Pay?

[JettaKnight]

Not to belabor the point, and not to get anyone to change their system but maybe I'm naïve, because in 15 years I've never had a utility, credit card or loan bill show up that was out of line (i.e. too high).

Has someone else?



Of course, maybe I did and I missed it.

 

[SpiritClump]

As long as they are not taking money from you account with out permission I'd go for it. It might work really well for you.

 

[Nacelle]

Not to belabor the point, and not to get anyone to change their system but maybe I'm naïve, because in 15 years I've never had a utility, credit card or loan bill show up that was out of line (i.e. too high).

Has someone else?



Of course, maybe I did and I missed it.

Just because a couple people haven't had a utility company screw up their bill doesn't mean it hasn't or can't happen. This site is about being prepared for the worst. Letting a company withdrawal any amount they want from your bank isn't what I consider a smart thing to do. But that's me.

 

[JettaKnight]

Just because a couple people haven't had a utility company screw up their bill doesn't mean it hasn't or can't happen.

I'd say more than a "couple" of people haven't had a utility company screw them. In fact, my question is, has someone had it happen?

This site is about being prepared for the worst.

Actually, this site is about guns.

If I was "preparing for the worst", I'd be saving my money rather than buying more guns.

Letting a company withdrawal any amount they want from your bank isn't what I consider a smart thing to do. But that's me.

I opened my CC bill - Balance was $34.97. Next to that it said, "$34.97 will be deducted from you Wells Fargo account on Jun 25th."


Seems legit to me...


I really didn't know that "auto-pay" was a no-no for preppers.

 

[CindyE]

Actually, this site is about guns.

If I was "preparing for the worst", I'd be saving my money rather than buying more guns.

Guns are part of the reason for my low bank account! And I never should have introduced my husband to craft beer.

 

[Nacelle]

I'd say more than a "couple" of people haven't had a utility company screw them. In fact, my question is, has someone had it happen?

When I say "a couple", I mean the small amount of people you know in comparison to the total amount of people paying any particular company. Just because you don't know anyone that it has happened to, doesn't mean it hasn't. I don't know anyone with AIDS. Does that mean AIDS doesn't exsist?

Actually, this site is about guns.

If I was "preparing for the worst", I'd be saving my money rather than buying more guns.

If you carry a gun on you, you are "preparing for the worst". Why else would you carry it? I don't think it's because you might come across a random group of guys on the street target practicing and you might want to get in on that.

I opened my CC bill - Balance was $34.97. Next to that it said, "$34.97 will be deducted from you Wells Fargo account on Jun 25th."


Seems legit to me...

Right.... But what if the meter reader screwed up and your bill was $340.97. Guess what? If you're on a tight budget, like a lot of us are, you're hosed. You may not get that money back for a month or two.

I really didn't know that "auto-pay" was a no-no for preppers.

Neither did I. I just think it's common sense to not let a company have free reign to withdraw whatever amount they want out of my bank. They send me a bill. I go to my bank's website and authorize a transfer. If the bill is wrong, I can dispute it. I'm not out any money.

 

[patience0830]

Control freak here. Bill pay with reminders. I've usually got stuff scheduled a month out. Exceptions being the electric and the phone which can fluctuated a bit.

 

[JettaKnight]

When I say "a couple", I mean the small amount of people you know in comparison to the total amount of people paying any particular company. Just because you don't know anyone that it has happened to, doesn't mean it hasn't. I don't know anyone with AIDS. Does that mean AIDS doesn't exsist?

Again, that's why I asked the question. Are we considering a scenario that's possible or one that someone has directly or indirectly experienced.

If you carry a gun on you, you are "preparing for the worst". Why else would you carry it? I don't think it's because you might come across a random group of guys on the street target practicing and you might want to get in on that.

Alright, we'll play word games. No, that's not "the worst". It's a unlikely, but possible scenario. There are far worse scenarios that a far more unlikely. The worst cae would be something much more like Godzilla or a tsunami here in the midwest. Unlikely, but conceivably worse.

Anyways, in my case, which is not for everyone, it's far, far more likely that I'd forget to pay a bill than an errant charge. I'll prepare for the likely problems rather than the worst cases. Risk mitigation - you have to consider probability along with severity and everyone assess things differently based on their own situation.

Right.... But what if the meter reader screwed up and your bill was $340.97. Guess what? If you're on a tight budget, like a lot of us are, you're hosed. You may not get that money back for a month or two.

Then I'd be on the phone ASAP getting fixed before the withdrawl happened. Also, it's pretty easy to cancel auto-payment.



Different strokes for different strokes.

 

[BugI02]

When I say "a couple", I mean the small amount of people you know in comparison to the total amount of people paying any particular company. Just because you don't know anyone that it has happened to, doesn't mean it hasn't. I don't know anyone with AIDS. Does that mean AIDS doesn't exsist?


If you carry a gun on you, you are "preparing for the worst". Why else would you carry it? I don't think it's because you might come across a random group of guys on the street target practicing and you might want to get in on that.


Right.... But what if the meter reader screwed up and your bill was $340.97. Guess what? If you're on a tight budget, like a lot of us are, you're hosed. You may not get that money back for a month or two.



Neither did I. I just think it's common sense to not let a company have free reign to withdraw whatever amount they want out of my bank. They send me a bill. I go to my bank's website and authorize a transfer. If the bill is wrong, I can dispute it. I'm not out any money.

ABSOLUTELY this. I like a process that requires MY finger on the trigger. I log due dates and amounts in a simple ledger as they come in. Once a week friday night I pay what ever I determine I wish to pay then, you can vary this interval to what works for you (such as when I'm about to go on vacation I pay out beyond the next two weeks). I copy the transaction ID from the payment next to the line item in the ledger. One page per month the ledger (Staples 2-column) lasts about 6 1/2 years. Being systematic is the key. YMMV

 

[BugI02]

I'd say more than a "couple" of people haven't had a utility company screw them. In fact, my question is, has someone had it happen?



Actually, this site is about guns.

If I was "preparing for the worst", I'd be saving my money rather than buying more guns.



I opened my CC bill - Balance was $34.97. Next to that it said, "$34.97 will be deducted from you Wells Fargo account on Jun 25th."


Seems legit to me...


I really didn't know that "auto-pay" was a no-no for preppers.

Yep. Back in the days before RFID meter heads, a new meter reader logged my monthly reading from right to left, causing me to be billed for 3217 KWH for that month. I couldn't have been the only one but I caught it, not the Electric Co

 

[JettaKnight]

Yep. Back in the days before RFID meter heads, a new meter reader logged my monthly reading from right to left, causing me to be billed for 3217 KWH for that month. I couldn't have been the only one but I caught it, not the Electric Co

FINALLY!!!

OK, my work is done.


/thread.



P.S. You sir, are way more disciplined with your finances than I.

 

[BugI02]

[STRIKE][/STRIKE]

FINALLY!!!

OK, my work is done.


/thread.



P.S. You sir, are way more [STRIKE]disciplined[/STRIKE] OCD with your finances than I.

FIFY lol

 

[Libertarian01]

For me another issue has been balancing worries. When I have the bill automatically deducted I have zero (0) worries about it being paid, and if it isn't I can shift the blame to THEM, "you didn't get the money you were authorized to. Don't you dare charge me a late fee!"

It has been the same with automatic bank depositing. I have had checks autodeposited for over a decade. This has saved me hundreds of trips to the bank. Someday the money might not get to the right account and could cause me a hiccup, but for all of those times that I haven't had to worry about making to the bank - those benefits far outweigh the negative of what may cause a problem once.

We all have to understand our risk comfort levels are different. We have different tolerances for a potential negative result from allowing access. In this regard my tolerance is somewhat low. For folks who have a much higher risk aversion the autopay isn't right for them. This doesn't make either one of us right or wrong, only folks with different levels of tolerance.

Doug