Not only visits to Scotiabank but potentially many visits to your external bank to reverse fraudulent charges to your account -- That what happened to me long after I paid off and closed my Scotia credit card -- Somebody at Scotia used my external banking info and kept withdrawing from my external bank account! Even my bank reversed all these transactions and returned the money to me, I'd never ever preauthorize any payment to Scotia credit card again.
Effin Scotia, I’m still shocked every time I’ve been told to come in to a branch, it’s like banking in the 80s.Kiraly wrote: ↑ Not accurate. You can definitely do it. I used to have two Scotia credit cards and set up automatic payment of the full balance of each from my chequing account at a credit union. Setting it up requires an in-person visit to a branch, and Scotia employees are notoriously poorly trained on this. You might have to visit several branches before you encounter a properly trained employee who knows what to do.
I’d never authorize any bank to pull funds from my bank account on an ongoing basis.
.What's the old fashioned way? Paying in cash from under your mattress? (oh, but then you wouldn't have a credit card, would you?)coolintheshade wrote: ↑ I’d never authorize any bank to pull funds from my bank account on an ongoing basis.
I’ve been doing things the old fashioned way for decades, and have not had a single late payment in my life.
Maybe when I’m old and senile where I can’t even remember my own name, might be a different song and dance then.
Then again, at that stage in life, probably shouldn’t even be using credit cards
I pay my credit card bills manually every month.robsaw wrote: ↑ What's the old fashioned way? Paying in cash from under your mattress? (oh, but then you wouldn't have a credit card, would you?)
I've used dozens of pre-authorized debits to my bank account (multiple banks/credit unions) to pay bills, credit cards, charge cards, bank-bank transfers over many, many years. Never once had an incorrect or unauthorized debit.
A debit or credit card is far more risky in terms of fraud and misuse than a pre-authorized debit.
