– While I don’t recommend electronic payment via bank draft for dealing with debt collections, I LOVE it for your regular monthly bills. You’re not in an adversarial or standoffish with vendors you’re using, so they’re not going to mess you up. If they made a practice of over-charging consumers, they would have the FTC, the BBB, Chamber of Commerce, and any number of other organizations all over them.
– What we do: set up auto-draft for all of our utilities, but still get paper bills. This way, I have to open the bill, look it over, and I have that reminder to get the next budget up-to-date with that information. We get paper bills but pay online.
– You cannot check out mentally if you have auto-draft […]