Ok, so I understand that I shouldn't auto-pay things like CC bills and stuff and I would never do that simply because I want the time to look over my bills and then to transfer money from a high-interest account into my checking account so I can actually make the payment.
However, there are things like cell phone and Comcast that I bill to my CC. I still don't like to auto-pay simply because I feel that sometimes I might be overcharged for something (although that has yet to happen to me). I tried auto-paying for my T-Mobile bill before, but with 3 separate phone numbers under my main account, the auto-payment would pay for all 3 instead of just my number alone, and so I had to cancel that.
However, my mom told me she read somewhere online that one of her coworkers had an issue with auto-payment before, and that when her coworker tried to cancel the auto-payment, the bank denied the request saying that the payee needs to agree to the cancellation too. She then added saying that of course the payee doesn't want it cancelled so her coworker could not even cancel the autopayment, and had no choice but to close that bank account. Now I've never heard of such a thing, and if what she says is true, it might be a one in a million thing. From what she told me, this auto-payment method sounds like it's done through an online banking site (i.e. I setup a recurring payment thru BoA, but I don't see how that works if they don't know how much say my PG&E or Comcast bill is).
And so she's telling me I shouldn't auto-pay for these reasons. I'm trying to explain to her that her story sounds quite weird and I have trouble believing it, but even if it did happen, it's probably a 1 in a million thing. I told her I have auto-paid my bills before and cancelled it and had no issue (my tmobile situation), and that if you think of it logically, you should never run into such a problem with auto-payment. Her defense is that while its logical to think this way, that wasn't the case with her coworker.
It's quite useless arguing with my mom on such issues, so I told her that I'm going to setup auto-payment on Comcast and Cingular for the next month to show her that it's not a problem. I dunno. I don't really understand how what she said could be a problem. I don't know how you could possibly auto-pay through your bank because they wouldn't know how much you owe, but maybe it's possible with BoA's e-bill system?
However, there are things like cell phone and Comcast that I bill to my CC. I still don't like to auto-pay simply because I feel that sometimes I might be overcharged for something (although that has yet to happen to me). I tried auto-paying for my T-Mobile bill before, but with 3 separate phone numbers under my main account, the auto-payment would pay for all 3 instead of just my number alone, and so I had to cancel that.
However, my mom told me she read somewhere online that one of her coworkers had an issue with auto-payment before, and that when her coworker tried to cancel the auto-payment, the bank denied the request saying that the payee needs to agree to the cancellation too. She then added saying that of course the payee doesn't want it cancelled so her coworker could not even cancel the autopayment, and had no choice but to close that bank account. Now I've never heard of such a thing, and if what she says is true, it might be a one in a million thing. From what she told me, this auto-payment method sounds like it's done through an online banking site (i.e. I setup a recurring payment thru BoA, but I don't see how that works if they don't know how much say my PG&E or Comcast bill is).
And so she's telling me I shouldn't auto-pay for these reasons. I'm trying to explain to her that her story sounds quite weird and I have trouble believing it, but even if it did happen, it's probably a 1 in a million thing. I told her I have auto-paid my bills before and cancelled it and had no issue (my tmobile situation), and that if you think of it logically, you should never run into such a problem with auto-payment. Her defense is that while its logical to think this way, that wasn't the case with her coworker.
It's quite useless arguing with my mom on such issues, so I told her that I'm going to setup auto-payment on Comcast and Cingular for the next month to show her that it's not a problem. I dunno. I don't really understand how what she said could be a problem. I don't know how you could possibly auto-pay through your bank because they wouldn't know how much you owe, but maybe it's possible with BoA's e-bill system?
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