Debiting checking account for payments - Page 3

Laura14 · ‎06-09-2014

That's always been a deal breaker for me. I'm dismayed to hear a lot of apartments and utilities are now requiring it. That may be an issue when I move.

Other than my employer who already has all of my sensitive information and can only deposit, I don't hand out my bank account information nor use a debit card for anything other than a rare ATM deposit or withdrawal once in a blue moon.

Giving access to trust someone to take out money from my bank account is not in my faith makeup. It's too tough to get that kind of mistake fixed when it happens.

CLHS68 · ‎03-23-2010

Most checks are electronically paid now days so it is not much different, They still have access to your account number & routing number and that is all they need to pull money out of your account. So a check is no safer then electronic withdrawel.

KathyPet · ‎03-09-2010

@Lipstickdiva wrote:
I don't like any company dipping into my checking account to deduct automatic payments on a regular monthly basis. The more people that have access to your checking account, the more problems you can end up with.

I used to have a life insurance payment withdrawn from my checking account. That was fine until there was a glitch in their system and they pulled 4 payments out on 4 consecutive days. That was the end of that.

I am with you 100%. I do use my bank’s bill pay service to send payments electronically but I initiate the payment from my end. I want to control when money leaves my account. In addition if you allow a creditor to automatically debit your account then your banking information is stored in their computer systems. That is just another location for hackers to get into to steal your banking information. No thanks

henderson · ‎03-18-2010

Wow, never heard of a service charge or paying by a debit card for a monthly HOA. I'm on our board and people can pay automatically (bill pay), in advance or by check. I would ask to see their accounting policies. Obviously it is the management company's decision and not in your CC&R's.

CareBears · ‎08-30-2015

Just the other day I was going over charges on my Visa account and noticed two charges with QVC for the same amount, same day, looked suspicious. So I wrote to the moderators on the forum, Wayne replies that yes 2 charges had been made but we would not be billed, as the 2nd one would fall off in 3-5 days, we were not happy about having to wait the 3-5 days, he suggested that we give him our banking information so he could call the bank and inform them of what happened to try expedite the removal of the 2nd charge? I told my husband to tell him where he could go! Why would we turn over our banking information because he works for QVC, is that a reason enough to trust him,. NO not in my book.

And why does QVC take 3-5 days to have a charge fall off when they were incorrect in the billing, any other vendor such as Amazon, I received the credit the next day. According to Wayne it depends on your financial insstitution, well accoring to our financial institution they had received nothing from QVC regarding that 2nd charge to fall off as of yesterday!

magicmoodz · ‎03-16-2010

The last thing I would do is pay my HOA fees with cash. There is a high incidence of embezzlement in property management and cash can be a temptation.

If anyone lives in fear, open a secondary bank account in which you keep limited funds for this purpose. Problem solved.

SUHsE · ‎03-12-2017

@CareBears wrote:
Just the other day I was going over charges on my Visa account and noticed two charges with QVC for the same amount, same day, looked suspicious. So I wrote to the moderators on the forum, Wayne replies that yes 2 charges had been made but we would not be billed, as the 2nd one would fall off in 3-5 days, we were not happy about having to wait the 3-5 days, he suggested that we give him our banking information so he could call the bank and inform them of what happened to try expedite the removal of the 2nd charge? I told my husband to tell him where he could go! Why would we turn over our banking information because he works for QVC, is that a reason enough to trust him,. NO not in my book.

And why does QVC take 3-5 days to have a charge fall off when they were incorrect in the billing, any other vendor such as Amazon, I received the credit the next day. According to Wayne it depends on your financial insstitution, well accoring to our financial institution they had received nothing from QVC regarding that 2nd charge to fall off as of yesterday!

Was your purchase on a debit or a credit card?

If it was a debit card, that’s how debit cards work. Charge #1, is to verify the funds exist. Charge #2, is when the sale processes. The first charge does usually drop off in 3-4 days and it does depend on how your bank does their processing.

Sweetbay magnolia · ‎04-14-2013

That would bug me. Like the time I wanted to pay for a college course via cash - and was refused. "This note is legal tender for all debts, public and private" is the wording on US bills.

I'd argue it with the HOA people.

Cogito ergo sum

missy1 · ‎03-10-2010

@twins mom wrote:
My DD moved in first apartment and they also required access to pulling from checking account for rent or incurring extra fee. She was between rock and hard place. With all this cyber fraud it was putting her income in jeopardy. I think the cash idea is a great idea and wonder what they would say if a number of residents band together to do that. Otherwise lumping payments is also good. It will challenge their book work!!!

@Twins Mom Does your dd have control when she pays the rent,or do they automatically deduct it the same day each month? I would not allow this.

I don't do automatic debit checking on bills. My payday doesn't always fall on their date they want it.

chrystaltree · ‎05-10-2010

Oh, yes this trivial and and actually quite strange. What are you complaining about? You have 2 options, you can pay with the check and pay the measly little $5 service fee. We have the same with our condo fees. I don't care for the idea of having bills take money from our accounts so we pay by check, which includes a $7 service fee. But that service fee is our choice, we're the ones who are choosing not to use the account debit method which is easier.