Auto payments for everything.
If a manual payment is required, I’m not signing up for service.
Many items are discounted for the auto ACH payment.
I’m very in tune with money in/out.
I write less than 5 checks a year with the goal of 0 checks…
Auto renewal is not about payment method - check, ach, cash, credit card, but about signing up for a service and permitting the use of your bank account or credit card giving them the access to withdraw from your account endlessly.
I have signed up some that were very easy to terminate the service and payment if you choose to do so. BUT there have also been several that you must take extreme measures to stop. It is always interesting how some services show you 10 pages of how to sign up for a service and a hidden line somewhere about how to stop auto renew.
I use a lot of services with auto renew. But I refuse to sign up it they DO NOT clearly and readily make access to the ability to cancel auto-renew. I also sign up for the service, then cancel auto renewal within the first week. Then next year I receive an email notice that it is about end asking me if I wish to continue. If I do, I pay, and again cancel auto renewal within the first week.
THAT had been my experience with SXM. I NEVER want to grant permanent access to any of my financial accounts to anyone.
If you have a family pass away, that is the second instruction regarding paperwork behind getting number of death cert. ---close all accounts to stop withdrawals.
I may or may not choose to retain the service for another service billing period. Next year they may double the bill. For example - Some security software (computer) companies charge around $100 when auto renewed. NOT THE SPECIAL pricing advertised at $39.
I always choose to retain the option to continue a service at the price required or make the decision to go elsewhere.
The pandemic has changed the way I pay. All on credit card paid at the end of the month (on payday). I no longer use cash or use checks. Used to use mostly checks.
I have come to the conclusion that the exchange of money is simply consenting to the exchange (verification). It is just numbers. Allowing someone to change numbers in your account. That is why access without options is dangerous. I could see checks disappearing and maybe eventually currency. But there are people who do not have bank accounts and need currency.
www.politifact.com
