– 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 set up!  You still have to pay attention to what’s going on, put the bills into the budget, and keep track!  That’s why paper copies are helpful for me.  Used properly, auto-draft can save you lots of time during your monthly management cycle.