Advances On Debit Cards?

[theinsuranceman]

What changes on the card is the expiration date and the 3 didget security number. Either of these will result in a declined payment.

That doesn't happen for me. When the exp. date and cvv # changes, because that card is expiring and they mail me a new one, all payments continue uninterrupted. When I get my new card, automatic payments to Netflix, etc. continue uninterrupted. I don't understand why yours doesn't do that. The same thing happens for the insurance customer too. This is actually a brilliant implementation that starts Oct 15 for SL.

 

[DonP]

That doesn't happen for me. When the exp. date and cvv # changes, because that card is expiring and they mail me a new one, all payments continue uninterrupted. When I get my new card, automatic payments to Netflix, etc. continue uninterrupted. I don't understand why yours doesn't do that. The same thing happens for the insurance customer too. This is actually a brilliant implementation that starts Oct 15 for SL.

Greg Greg. Your a nice guy but sometimes i question what you really understand about so many things.That is just a plain flat out lie . When your debit or credit card expire or is lost all automatic payments cease .You must give the new card #. If auto payments continued then why give a new card ? You've spent to much time with senior life. You really need to increase your knowledge on many fronts.If the expiring card kep accepting auto payments then every insurance carrier would accept them as payment ,

 

[Allen Trent]

Greg Greg. Your a nice guy but sometimes i question what you really understand about so many things.That is just a plain flat out lie . When your debit or credit card expire or is lost all automatic payments cease .You must give the new card #. If auto payments continued then why give a new card ? You've spent to much time with senior life. You really need to increase your knowledge on many fronts.If the expiring card kep accepting auto payments then every insurance carrier would accept them as payment ,

That is not how my bank debit or my AMEX work. The only time they issue an entirely
new card number is if they suspect serious fraud. I have some automatic payment on debit & credit & ongoing donation items that have been processing for 10+ years unchanged. In other cases, the company asks for it to be updated with new expiration date. I believe that is the recipient of funds discretion, not mandatory by bank or credit card. But I could be wrong

 

[theinsuranceman]

Greg Greg. Your a nice guy but sometimes i question what you really understand about so many things.That is just a plain flat out lie . When your debit or credit card expire or is lost all automatic payments cease .You must give the new card #. If auto payments continued then why give a new card ? You've spent to much time with senior life. You really need to increase your knowledge on many fronts.If the expiring card kep accepting auto payments then every insurance carrier would accept them as payment ,

 

[theinsuranceman]

Don, why are you sounding so hostile towards me? You must be a rather insecure old man? Maybe you need to use aggressive talk to overcompensate for lower self esteem, lower confidence, or some other type of problem?

Try to sit up and show a little class up here. And don't be talking about things that you have no knowledge of. If you did that this forum would a better place for everyone. But when people spew false knowledge up here it discredits this forum as a place to learn and exchange ideas in a mature professional manner.

 

[theinsuranceman]

That is not how my bank debit or my AMEX work. The only time they issue an entirely
new card number is if they suspect serious fraud. I have some automatic payment on debit & credit & ongoing donation items that have been processing for 10+ years unchanged. In other cases, the company asks for it to be updated with new expiration date. I believe that is the recipient of funds discretion, not mandatory by bank or credit card. But I could be wrong

This has been my experience as well.

 

[DonP]

This has been my experience as well.

I've been doing auto drafts with debit and credit cards for 15 yrs . Not once on an expiring card have i not been asked to resend the info to the co's drafting . Others please chime in on this subject . If this is true its news to me.

 

[goillini52]

All the bank statements of clients that I've seen have only the last 4 digits. But he says his bank prints all the digits on his paper bank statement. I don't even have bank statements mailed to me anymore as it's all online on my bank's website.

I guess one reason I keep getting paper statements is online you can only scroll back I think a year, so if I want to go further back to reference something and get a copy of that old statement, I have to pay a fee. With paper statements I can go back as far as I've kept them.

 

[goillini52]

Greg Greg. Your a nice guy but sometimes i question what you really understand about so many things.That is just a plain flat out lie . When your debit or credit card expire or is lost all automatic payments cease .You must give the new card #. If auto payments continued then why give a new card ? You've spent to much time with senior life. You really need to increase your knowledge on many fronts.If the expiring card kep accepting auto payments then every insurance carrier would accept them as payment ,

I'm always getting notices from business related subscriptions that I need to update my debit card because it expired or will be expiring.

 

[theinsuranceman]

I've been doing auto drafts with debit and credit cards for 15 yrs . Not once on an expiring card have i not been asked to resend the info to the co's drafting . Others please chime in on this subject . If this is true its news to me.

Maybe some banks do it differently? Here's my situation and this has happened twice in the last 3 years: when reviewing my bank statement on line I noticed a suspicious charge for about $1.50 made several states away. I knew this was a fraudulent charge or some kind of error.

When I contacted my bank (First Horizon) they refunded the $1.50 back and mailed me another debit card. This new debit card had a brand new 16 digit #, and they deactivated the old card with the fraudulent charge, so it couldn't be used again wither my me or the thief. I asked them about any auto drafts (Netflix for ex.) and they said that for auto drafts 6 months or longer they would automatically draft as always and this new card would still be associated with my same account #. Thank goodness for that as I didn't want to go thru the hassle of opening a new checking account and having to contact all my auto drafts with a new bank account #.

I asked them if they had any idea what happened. The bank's rep told me that I probably used my debit card at a restaurant, and when the server takes my card to the back to process it, that the server will keep a written record of the debit card's 16 digit # and CVV # and exp. date. Then the server waits a month or 2 and makes a small charge (the $1.50 charge) to see if I'm the kind of person that checks my bank statement for unauthorized charges by charging something for a dollar or two. If I don't notice it then they will use the card again and again for bigger charges till I notice it.

I guess a server could do the same thing with a credit card.