Due to my recent problems I learned some valuable info I thought I would share. For those of you that do direct payments from your banking account-did you know if you cancel the service, that is taking the money, you need to do it in writing? The bank told me it also needs to go certified. The bank gives the company 3 months to suspend the withdrawls, so even though you want to be done, it takes time
. Had this happen with a well known credit card processing company for our small business, took months......
If you sign up for auto pay with a credit card-If you use a different card for a payment(if there aren't enough funds in original card) and sign up for a ONE TIME payment, they can access this card even though you only authorized it for the one transaction(this is what happened to me, the company emptied my debit account). I am still fighting it, but the woman at the bank told me she only writes paper checks so she doesn't have to deal with these issues. She may have to pay for stamps, but has peace of mind that someone can't just take her money electronically.
Apparently it is beyond my banks control, it is up to Mastercard because they supplied the debit charge. So beware-ONE TIME payments give them authorization to accesss your account again............
So much for convenience, going back to the old fashioned way of writing checks
If you sign up for auto pay with a credit card-If you use a different card for a payment(if there aren't enough funds in original card) and sign up for a ONE TIME payment, they can access this card even though you only authorized it for the one transaction(this is what happened to me, the company emptied my debit account). I am still fighting it, but the woman at the bank told me she only writes paper checks so she doesn't have to deal with these issues. She may have to pay for stamps, but has peace of mind that someone can't just take her money electronically.
Apparently it is beyond my banks control, it is up to Mastercard because they supplied the debit charge. So beware-ONE TIME payments give them authorization to accesss your account again............
So much for convenience, going back to the old fashioned way of writing checks