Personal Finance

Automatic Pre-authorized Payment of Full Balance on Credit Card possible?

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  • Jul 17th, 2020 11:14 am
[OP]
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Sep 3, 2019
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Automatic Pre-authorized Payment of Full Balance on Credit Card possible?

I'm trying to set up automatic pre-authorized payments of full balances from all credit cards from my chequing account.

I don't want to spend time paying them or reminders of when I need to pay a credit card bill; just want it automated.

Is this possible without sending in paper forms?
49 replies
Deal Addict
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Jan 16, 2007
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Entirely dependent on each specific credit card. Some require a form to be sent in, some can be done online. It's a process set out by each individual one.
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Jan 31, 2006
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SKill7 wrote: I'm trying to set up automatic pre-authorized payments of full balances from all credit cards from my chequing account.

I don't want to spend time paying them or reminders of when I need to pay a credit card bill; just want it automated.

Is this possible without sending in paper forms?
I don’t see possible, only minimum is possible. Else how will the credit card issuer earn $ from the cardholder.
Sr. Member
Sep 14, 2012
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Montreal, QC
cgtlky wrote: I don’t see possible, only minimum is possible. Else how will the credit card issuer earn $ from the cardholder.
They also earn money based on the cardholder spending habits from the merchant. That's all they get from me (excluding my cards which carry annual fees) since I pay off my balances in full each billing cycle.

As joshnet indicated, it is dependent on the card issuer whether there is an option to pay the entire balance automatically. I know my American Express allows me to do this automatically (but I haven't opted to the service since in case of an issue/dispute, I don't want them to take the amount in dispute).
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Dec 5, 2006
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lmcjipo wrote: They also earn money based on the cardholder spending habits from the merchant. That's all they get from me (excluding my cards which carry annual fees) since I pay off my balances in full each billing cycle.

As joshnet indicated, it is dependent on the card issuer whether there is an option to pay the entire balance automatically. I know my American Express allows me to do this automatically (but I haven't opted to the service since in case of an issue/dispute, I don't want them to take the amount in dispute).
Agree.

Paying bill is a good opportunity to review the bill
[OP]
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Sep 3, 2019
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Thanks everyone!

I've always preferred paper statements because it gives me an opportunity to review them, but I've now gone electronic due to covid.

My understanding was that the balance needs to be paid off even in the case of an unauthorized transaction/dispute, or am I wrong here?
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May 8, 2009
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SKill7 wrote: Thanks everyone!

I've always preferred paper statements because it gives me an opportunity to review them, but I've now gone electronic due to covid.

My understanding was that the balance needs to be paid off even in the case of an unauthorized transaction/dispute, or am I wrong here?
With zero liability, this is not the case...except for Robbers bank!
No solicitation in sigs
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Oct 16, 2008
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Impossible. How can the account knows the other CC info like account #, amount to be paid, date, etc? Sound easy but it’s not easy. Still need human inter-action. There is no incentive to offer this. FI wants to make $$$ from interest and late payments.
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Jan 16, 2007
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Pushing it from the bank to the credit card certainly not, but having the credit card issuer pull it is certainly possible. The initlal post was phrased in a way that it could be interpreted either way, but my response is in regards to what is actually possible - that is managing it/setting it up on the credit card issuer side.
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May 16, 2017
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teoconca wrote: Impossible. How can the account knows the other CC info like account #, amount to be paid, date, etc? Sound easy but it’s not easy. Still need human inter-action. There is no incentive to offer this. FI wants to make $$$ from interest and late payments.
And yet RBC and AMEX make pre-authorized payment setup of credit-cards balances online quick and easy and many others offer it as well.
[OP]
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Sep 3, 2019
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My friend tells me TD and Simplii also offer full balance pre-authorized payment on its credit card balances. Presumably, MBNA, a subsidiary of TD also offers it. Simplii is a subsidiary of CIBC, so presumably CIBC also offers it.
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Dec 5, 2006
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SKill7 wrote: My friend tells me TD and Simplii also offer full balance pre-authorized payment on its credit card balances. Presumably, MBNA, a subsidiary of TD also offers it. Simplii is a subsidiary of CIBC, so presumably CIBC also offers it.
I think scotiabank can do it as well, but I never tried.
Sr. Member
Nov 22, 2012
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NS
Here are the banks I am familiar with that allow a credit card PAP:
AMEX (setup online)
BMO (setup online)
Canadian Tire (setup online)
CIBC (must call)
MBNA (mail form with void cheque)
PCF (mail form)
Rogers Bank (email or mail form)
Scotiabank (must visit branch)
Tangerine (PAP only from a Tangerine account)
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Jan 21, 2018
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I have one credit card that is paid automatically in full each month, a TD USD Visa, actually paid from a company business USD account at a different bank (BMO) because I use it mostly for business expenses. That required a paper authorization form to set up. And it has a defect - TD always takes payment of the full amount of the monthly bill from the BMO account on the due date, even if all or part of the balance owing is already paid prior to the due date (for example a refund from a merchant, or me paying off a personal expense).

But for my other credit cards I prefer to download the monthly bill pdf, examine it, and make payment manually. I don't like pre-authorizations of any kind because I just don't trust them. I've seen lots of billing errors over the years, and I think I've gotten them all corrected eventually, but it was a bit of a fight with some of them. I wouldn't want to be in the disadvantaged position of trying to get their attention when they've already received payment automatically and don't give a crap if I object.

You also need to take a look at some of the notes that can appear on your bill every month. That's where the bank tells you about changes in interest rate or policies that may negatively affect you. If you run afoul of those changes months later, they will say it was mentioned in a note on your bill, didn't you read it? Among those policy changes lately I have seen for example one that says you now have one month maximum to report any errors on your bill or they won't be corrected.

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