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This is why I hate giving bank account info for payments but many service providers are starting to charge fees for using a credit card, ugh!
by hnburnsy 3y ago
This is why I hate giving bank account info for payments but many service providers are starting to charge fees for using a credit card, ugh!
- lotsofpulp 3y agoKeep a checking account with a little amount of money for handling all payments and a savings account at a different bank that you never give anyone the details to. Initiate money transfers into and out of checking account from the savings account website. And don’t save your savings account login credentials wherever it can sync onto your phone (such as Keychain) and don’t use a phone app. Transfers should be infrequent enough that you are not inconvenienced by having to log into the website.
- hnburnsy 3y agoThatbis a good idea, just don't have the time to manage it that close. Wish I could script transfers on dates or when balances get low. I do have accounts at multiple banks.
- lotsofpulp 3y agoUnless you have very volatile cash flows, you should only need to do it once or twice per month. Presumably, people are checking their accounts at least once or twice per month.
- ProllyInfamous 3y agoI just recently was a victim to "check washing," where a former tenant took an outgoing letter and then "washed" the check, adding his employer into the "pay to" field... original (and fake) check were for thousands of dollars (same amount). Listening to my banker describe the [essentially lack of] features securing modern US checking, I decided then and there to remove most of the money from my checking account — all future checks will be cashier's cheque (which apparently offers much more security, including "pay to" verification before funds x-fer). I've also stopped using credit cards, and instead use a random CC # for each transaction service (the cost is minimal for the protection).