BT Direct Debit Steamroller

Heinz

midgetessa wrote: »

Big companies love dd's because they can do everything by computer and make more money.....but the other end of the equation is not a computer, it's a person.

In my case, it is a person but, as this post confirms, a person with a computer - which allows me immediate access to my accounts.

That's why I like online accounts and direct debits. I have control (if a firm makes an incorrect call, the direct debit guarantee gives me the power to immediately get my money back).

midgetessa

Stompa wrote: »

The same applies with snail mail.

Agreed. The dd is the real problem.

midgetessa

Heinz wrote: »

In my case, it is a person but, as this post confirms, a person with a computer - which allows me immediate access to my accounts.

That's why I like online accounts and direct debits. I have control (if a firm makes an incorrect call, the direct debit guarantee gives me the power to immediately get my money back).

And that's just fine....for you.


'Mistakes', however, seem only to happen in one direction.

I'm not giving the keys to my bank account to anyone, but that's just me.

macman

Then why put the money in the bank at all?-you might as well put it under the carpet with that approach.
I've had thousands of DD payments taken over the 3 decades that I've had bank accounts, I cannot recall a single instance when I've had to invoke the DD guarantee.
If you have online banking then you can always cancel a DD with just a few keystrokes.

jhp

midgetessa wrote: »

And that's just fine....for you.


'Mistakes', however, seem only to happen in one direction.

I'm not giving the keys to my bank account to anyone, but that's just me.

So you choose to pay more hardly money saving, but each to there own.:D

Stompa

midgetessa wrote: »

'Mistakes', however, seem only to happen in one direction.

I guess it depends on how likely you think it is that a mistake will be made. Personally I've made approaching 1000 bill payments by DD, and no problems so far.

tauster

I'm pleased to hear you are of a similar mind regarding direct debits.

Whilst I recognise they are suitable for some, including some of the respondees here, they are effectively not giving the consumer a choice which is what I find most annoying.

Pay extremely quickly or default - its unfair payment terms in anyones book.


Whilst doTh

midgetessa wrote: »

Being informed of changes to direct debit amounts these days usually just means you are sent an email......which can easily be missed if you are on holiday/working away or just overlooked in the general slew of carp that appears in most peoples inboxes.

The 'mistakes will be paid back' part of the guarantee is fairly useless, too, since getting any large companies to admit mistakes is often a mammoth and time-consuming task.

I agree with the OP.....variable direct debits are an invitation to have your pocket picked and are not a good way to manage finances for many people.

I don't have any direct debits and I intend keeping it that way as I prefer that only I decide what is paid out from my bank account.

Just my two pence.

OldGreyFox

tauster wrote: »

I'm pleased to hear you are of a similar mind regarding direct debits.

Whilst I recognise they are suitable for some, including some of the respondees here, they are effectively not giving the consumer a choice which is what I find most annoying.

Pay extremely quickly or default - its unfair payment terms in anyones book.


Whilst doTh

If its that bad you can always change your supplier.;)

Mark_In_Hampshire

As above - why stay?

Related:

http://forums.moneysavingexpert.com/showpost.php?p=44692980&postcount=547

somethingcorporate

You do realise there is one big, ugly corporation that has completely free access to your bank account right? The bank.

Seems a bit foolish to miss the obvious.