Post by
Buzzman »
https://forums.nicoclub.com/buzzman-u55955.html
Tue Sep 29, 2015 8:53 am
Another example of why you should never use direct withdrawal to pay your bills, or at least keep it to an absolute minimum.
I do not have any Companies, utilities, or banks taking money out of my account on a direct withdrawal program.
Think about this: when you do that, it gives the institution unlimited access to your account, and in theory, they can withdraw as much as they want, whenever they want, carte blanche. They are in control.
Most of the time, they are honest and reliable, but if you have a problem, or they take too much, just try and stop it.
Then try getting your overpayment back. It's a major headache and hassle. Direct withdrawal is a one way street, all to their advantage.
I pay my bills via on-line banking, but no way will I sign up for automatic withdrawal.