Personal Finance

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

  • Last Updated:
  • Jul 17th, 2020 11:14 am
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May 8, 2009
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@SKill7 if you dispute a transaction, it's deducted from your amount owing on statement due date. Except Rogers, where if left unpaid, it'll accumulate interest (which they'll credit should the dispute close in your favour).
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Jan 16, 2007
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Is BMO the same way regarding leaving the charge in place? I had friends who stated it was, but no first hand experience (I see no way in which BMO as a company would ever be beneficial to me so don't use them).
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Dec 21, 2007
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SKill7 wrote: The Simplii VISA is set to withdraw the full amount from their Simplii chequing account, but can also be set up with other chequing accounts - all this can be done so long as it's not within 2-3 days of the bill start/end date
You don't have a link to the form that needs to be completed do you? I've never seen the form or a link do set things up on their website.
I am the Stig's brother's cousin's friend's former roommate.
Newbie
Jan 16, 2018
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Whatever is new here or not found here should also go onto @sierravista OP's Which cards allow autopay of the full balance? - cards-allow-autopay-full-balance-2258859/ that already lists a lot of them.
You'll already find that list merged with other lists under @Kiraly's sticky post What's the best card for...(List of credit card lists) - whats-best-card-list-credit-card-lists-2162874/ - over on the Credit Cards forum.
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May 16, 2017
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Scote64 wrote: We clearly disagree on the issue of auto-pay. We all know that autopay often means auto-ignore. It's not a certainty, but it's human nature. Come on, be honest, admit it - I'll certainly cop to paying insufficient attention to things that happen automatically sometimes, when I'm busy.

Paying closer attention means that you can report an error before the payment is taken from you, get it contested and removed if necessary, and then you are in a better position discussing it with a merchant who is being difficult.

In what way was I mixing auto-pay and online statements? They are two totally separate things. I like online statements. I much prefer them to paper. I don't like auto-pay. Auto-pay is a blanket authorization to a company to go ahead and take whatever money they want from your bank account, just let you know what it was for. Sorry, I don't trust any company that much.
You've just agreed that the issue is personal irresponsibility, not autopay per se. Going over the bill, checking transactions requires personal discipline whether paper or online, autopay or not.

We're talking about paying a credit card bill automatically here. Whether or not there is autopay has no bearing on leverage with a merchant in a dispute.

You were referring to reading notes on your bill - again, whether online or paper, autopay or not, blaming poor personal discipline in being forced to read and act upon bills is not autopay's porblem. It is a personal behaviour issue.

Let's not blame autopay for issues that are unrelated to any features of autopay itself.

The only real issue with autopay is the last one you mention - trust that you will be billed the proper amount.

In many years of autopay, for credit cards and many other accounts, I've never once been billed what was not authorized. So, I'm not concerned with autopay from any major credit card issuer nor other well-known biller. However, let's separate the issues:

1. Autopay involves trusting the biller - the only legitimate risk with autopay.
2. Autopay AND online only statements require personal discipline, which is not a legitimate complaint against either; it is merely a factor in assessing whether either are suitable for any individual due to that PERSON's characteristics.
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Jan 21, 2018
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robsaw wrote: You've just agreed that the issue is personal irresponsibility, not autopay per se. Going over the bill, checking transactions requires personal discipline whether paper or online, autopay or not.
I suspect we aren't going to convince each other on this one, but let me make one more argument:

What's the purpose of using autopay? Is it not to be sure that your bill will be paid on time even if you are distracted and don't get around to doing it? And of course it saves you the time to make a manual online payment because you are a very busy person who doesn't have time to waste on paying bills manually.

So it seems to me that those very reasons for which you use autopay are the same reasons that indicate that you will not always be taking the time to read your bills carefully and question errors or notices within an increasingly-tight time limit.

If you feel that the time saving and certainty of payment offered by autopay are a significant benefit to you, and the risks are insignificant, I can't argue - that's a reasonable personal value judgement.

But I am disciplined about reading my bills and making manual payments on time, and the certainty that I know what I'm paying is more important to me.
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Jun 25, 2012
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MONTRÉAL
As far as I know, all the credit card issuers allow to setup Pre-authorized payment with full amount. I have/had many credit card in 20 years, and I fully paid with pre-authorized payment for all of them. Some banks you need to call them to setup, as they do not have, or limit, the function to setup pre-authorized payment, for example Scotia bank.

How the credit card issuers make money? Of course, they can not make money from the people who fully pay the bill, like me. But you know there are still many people only pay minimum balance, and keep paying 20%-30% interest for the rest (for whole life). Another way to make money is they charge the service fee from business. We pay Visa/Master/AmEx etc together from $300 to $1000 service fees every month, depending on the sale, so it will be about $4,000 to $12,000 per year. You know how many business in the world? Credit card issuers make money from both side, clients and businesses.

Regarding to the paper bill, I do not care paper or electronic. You have enough time to check your statement, and call the bank if there is anything you do not agree. You might be charged full balance; but you will get credit back on next statement. If you did not make the purchase, you just call the bank. They will investigate and waive it if you are right. However, if you made a faults claim and refuse to pay it, then be careful. Your case might be sent to collect company, which you will have big trouble. So, to be honest is important.
Jr. Member
Sep 21, 2017
173 posts
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Vancouver
I have all my credit cards set up to pay the full balance on the due date automatically except for my scene visa. You do have to send in the paper forms for some cards, but really its not that much work.
The payment comes from My RBC chequing account
RBC cash back mastercard
RBC Visa
PC mastercard
Walmart Mastercard
Tangerine Mastercard (this is paid automatically from my tangerine savings account)

I always check my bill for any fraud charges but otherwise auto paying is very convenient.
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Dec 5, 2006
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Markham
funcanuck wrote: I have all my credit cards set up to pay the full balance on the due date automatically except for my scene visa. You do have to send in the paper forms for some cards, but really its not that much work.
The payment comes from My RBC chequing account
RBC cash back mastercard
RBC Visa
PC mastercard
Walmart Mastercard
Tangerine Mastercard (this is paid automatically from my tangerine savings account)

I always check my bill for any fraud charges but otherwise auto paying is very convenient.
How much you have to keep in your chequing account? Don't you lose a lot interest by putting money in chequing?
[OP]
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Sep 3, 2019
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GTA
Conundrum1911 wrote: You don't have a link to the form that needs to be completed do you? I've never seen the form or a link do set things up on their website.
You have to call them
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Sep 21, 2017
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smartie wrote: How much you have to keep in your chequing account? Don't you lose a lot interest by putting money in chequing?
There's no minimum balance for RBC I just keep enough to pay all my bills from that account usually around $2000, I get my pay cheque deposited there and then transfer money to savings/investments. The amount of money I lose vs having it in a savings account is basically pennies.
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Aug 28, 2010
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My Rogers and Scotiabank Credit cards auto-pay from my TD Cheq account in full on due date. Never miss a payment again.
Sr. Member
Apr 5, 2017
569 posts
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Yes, it is possible and i'm doing that since I got my first credit card.
The credit cards which I hold and accept full payment automatically on due dates are :
Walmart, Home depot, TD, Scotiabank , Capital one Costco.
Hope this helps:)
Newbie
Feb 9, 2017
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titaniumtux wrote: Except Rogers, where if left unpaid, it'll accumulate interest (which they'll credit should the dispute close in your favour).
Wow that is flaming hot garbage, I'm glad I closed my Rogers account and never looked back.

Back to the topic, RBC even has a nice, convenient section on their online banking where you can change your auto payment settings (you have to call in to change it to debit a non-RBC account though).
Last edited by noobferguson on Jul 17th, 2020 8:27 am, edited 2 times in total.
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Dec 21, 2007
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SKill7 wrote: You have to call them
Thanks -- I just did and all is set up now. Considering all my other cards are set up this way, it was a pain that Simplii's wasn't...since I had to always set a reminder for it, especially since it isn't one of my main cards most of the time.
I am the Stig's brother's cousin's friend's former roommate.
[OP]
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Sep 3, 2019
684 posts
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Conundrum1911 wrote: Thanks -- I just did and all is set up now. Considering all my other cards are set up this way, it was a pain that Simplii's wasn't...since I had to always set a reminder for it, especially since it isn't one of my main cards most of the time.
I hate banking with Simplii because everytime I call them up seems to be more work than it is at similar 'tier' of banks (MBNA, Tangerine). I don't recall banking with their parent bank, CIBC to be so difficult

Edit: I'm going to feel like I've removed a few pounds off my shoulder when I close down Simplii chequing after I obtain their GMT promo
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Dec 21, 2007
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SKill7 wrote: I hate banking with Simplii because everytime I call them up seems to be more work than it is at similar 'tier' of banks (MBNA, Tangerine). I don't recall banking with their parent bank, CIBC to be so difficult

Edit: I'm going to feel like I've removed a few pounds off my shoulder when I close down Simplii chequing after I obtain their GMT promo
I wouldn't close it down...just maintain min activity until there is another promo. That's why I started with them, and also got their card because of the rewards for restaurant purchases.
I am the Stig's brother's cousin's friend's former roommate.
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May 16, 2017
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noobferguson wrote: Wow that is flaming hot garbage, I'm glad I closed my Rogers account and never looked back.

Back to the topic, RBC even has a nice, convenient section on their online banking where you can change your auto payment settings (you have to call in to change it to debit a non-RBC account though).
You can setup autopay of RBC credit cards online from ANY Canadian banking account. I've done it many times.
Correction: Not any more.
Last edited by robsaw on Jul 17th, 2020 11:02 am, edited 1 time in total.
Newbie
Feb 9, 2017
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robsaw wrote: You can setup autopay of RBC credit cards online from ANY Canadian banking account. I've done it many times.
Wow, that's good to know, I've only done it once a while back. Thanks for the correction
Sr. Member
Feb 13, 2008
552 posts
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Edmonton, AB
Two years ago I switched all my credit cards to auto pay with the exception of Tangerine. This is so much easier. Smiling Face With Sunglasses

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