- 1,206
Do you get a discount for non tobacco or do you get charged more for using tobacco?
Checking Account/ EFT
- Thread starter Funguy
- Start date
What I used to hear a lot of is that people are afraid to give anyone access to their checking account. I explain that the insurance company does not have access to their account. All the they are doing is giving the bank permission to make that specific monthly payment, and they can stop it at any time by just calling the bank.
- 1,930
Have you ever had someone try to stop it by calling the bank? Better to stop it by calling the insurance company. I think the bank would probably charge them if they would do it at all and not guarantee it gets stopped.
This is incorrect. If it worked that way, people would be more at ease.
You are authorizing the insurance company to do a withdrawal from your account. The bank does not initiate the transaction, the insurance company does.
You are, in fact, authorizing the insurance company to have access to your account. Now, that said, they are usually very responsible with that responsibility, since they can get shut down for blatantly violating the trust people put in them. This doesn't mean mistakes don't happen though.
I much prefer it when the bank initiates the transfer. This requires logging into your bank account and setting up the payment, not signing an insurance company form. Unfortunately, this doesn't satisfy insurance companies for billing purposes.
Be careful how you explain it to people.
Dan
- 189
why dont these 1995 comapines take debit cards and call it a day?
- 15,041
why dont these 1995 comapines take debit cards and call it a day?
Debit card costs more than an ACH.
- 8,707
It's more than just that...Persistancy is a huge issue. I can get pissy right now and go down to my bank and get a new debit card does not affect my account number and effectivly lock you out of debiting the card very painless to get a new account will take 30 minutes in the bank and updating direct deposits etc a very big hassle plus debit cards are self expiring they have expiration dates while bank accounts do not.
Though part of me wishes more carriers accepted cards because when I cold walk a business I might get an employee willing to sign up but men do not normally carry thier check books with them but do carry debit cards.
- 189
IT should be about make it easy for the customer not fear of cancelation. customer service new concept in the 21 century..hummm
- 15,041
That sounds nice, but it has to make sense as a business as well.IT should be about make it easy for the customer not fear of cancelation. customer service new concept in the 21 century..hummm
It would be easier to let customers just send in whatever they feel like for whatever amount of coverage they'd like. It ain't happening.
Carriers are trying to make it as easy as possible, while having policies that follow the law, regulations and help to keep business on the books.
- 189
this attitude is what im talking about. im talking about the trasferance of funds for payment. i can pay my electric/water bill on a credit debit card.why not insurence? i can pay car insurance with my debit card..DUH
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