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Originally Posted by Caeran
Well considering my own bank fined me 60 quid for being £11 overdrawn for a day, i dread to think the fines being imposed on those unfortunate enough to be £300+ overdrawn. Not to mention the kids who get their parents to pay their subscriptions. One can only imagine the look on the parents face when they get their bank statement this month.
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You should never use a check card for automated billing.
Your financial bank advisor (if you have one) will tell you to never give out your bank account number, routing or checkcard number to a billing company. Instead use a credit card if you dont have one use a gamecard. It's always best to use the banks online bill pay where possible and send paperchecks.
Its financially irresponsible to use checkcards for automatic drafts as your borrowing heaps of trouble.
A mistake a billing company makes on an automatic draft will be deemed your fault if an overdraft occurs as you gave them your bank information mistake or not. This is the same as giving out a usrename or password for an mmo an account. You are solely repsonsible for that information. The bank will not be held responsible and doesn't have to provide a courtesy credit and will tell you its the billers fault for overdrafting and you take it up with them. In essence, you can avoid all of that by doing the following:
This applies to any purchase for good sound adivice:
1) Use a credit card instead not a checkcard. Tell your credit card company you want to opt out of allowing transactions that will go overlimit. This is now law thtat you have this option. A credit card dispute is easier to handle and doesn't impact a vital financial part of your life like a checking account.
2) Send a papercheck if not online biller (obviously you cannot for online games use credit card or game card)
3) Use online billpayment
4) Use a gamecard
NEVER USE A CHECKCARD FOR ANYTHING LINKED TO A BANK ACCOUNT FOR AUTOMATED BILLING!
Also do not use it for online purchasing.
I've been there done that over and over and mistakes happen and no matter what its going to be you at fault.
Follow these rules and it wont ever happen again.
Techonology is wonderful but with it comes responsibility. Yours. And the day there was just paper checks, which I was around for it was far more simple but less convenient. Just trying to help you out in life where I made all my blunders. I learned the hard way and now I haven't seen a blunder in over 10 years with perfect accounts with no late fees, no overdrafts and no overlimits. So take the advice or leave it....