Quote:
Originally Posted by retiredguy123
Thanks for the warning.
But, I don't think it is a good idea to give any company access to your checking account. If you have to use an auto pay system, it is much safer to allow automatic credit card charges. They are easier to track and can be disputed with your bank using the Federal protection rules.
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I agree, however, there are some companies that don't accept credit cards such as Sumter Electric and our Villages Utilities and Amenities bill. They've been taking it directly from my checking account for the past 5 years with no problems. Everything else is on my credit card. The one thing I would strongly recommend is getting apps for your bank and credit cards on your cell phone. Check them daily - only takes a couple of minutes. Although like everything else in life it cannot totally eliminate risks, it can certain reduce them.