4 ms·
Autopay accounts should always be separate. I opened a second checking account with my bank, and every month or so I make a deposit. That way if something like
by underseacables 2y ago
Autopay accounts should always be separate. I opened a second checking account with my bank, and every month or so I make a deposit. That way if something like this happened it's not gonna get that much and its all separate
- commandlinefan 2y agoThat might be worse - if the autopay amount is even a few dollars over what you put into the separate account, you'll be on the hook for an overdraft fee, which you _definitely_ won't be able to recover.
- jmholla 2y agoYou can tell your bank to not approve overdrafts, at least in the states. They word it real weirdly at the bank, but you want to opt-out of the "overdraft protection" (the protection letting you purchase things you don't have money for).
- gruez 2y agoThat prevents overdraft charges, but not declined payment/NSF charges from the biller or your bank.
- noja 2y agoWhat if one autopay blocks another?
- bdcravens 2y agoI don't really do autopay, but I've adopted using a separate account for all bills, and I explicitly move funds as I pay them (pretty easy these days with Zelle). I've since changed this out of laziness, but at one point I didn't even have a debit card attached to the account where my income is deposited to. (the financial equivalent of one-way data binding?)