I highly recommend that you never set up direct withdrawals with any company. Even though a company may be secure there are individuals out there who will take advantage of their position. By which I mean a few years ago I had to set up auto withdrawals in order to set up an account with Embridge. A few months after having my bill successfully pair I noticed on my bank statements that they had started taking an additional amount close to my bill but a few dollars or cents off (as to avoid being cancelled since the only way for a bank to cancel this type of payment is for them to have the exact dollar and cent amount). I had to go through my bank to fix it since Embridge said they had no record of the double charging. It looked like an employee was somehow withdrawing amounts.
Long story short is if you open a door to your bank account you really don't know who might walk in and take what they want.
@K8Latreille I've seen a few people here who don't trust pre-authorized automatic bank withdrawals for payments, but I've made most of my regular payments that way for years and years with not one problem. Cable, Internet, Phone, Hydro, Gas, Car insurance, Property Taxes. I saw your other post about all the hassle and stress over not getting your Rogers bill due to technical difficulties. That all would have been avoided with pre-authorized payments.
The only other issue though.. is it makes it a little harder to dispute things..
If i do find a billing discrepency.. i do like to deal with it BEFORE i make the payment.
Once it paid, you still can.. would come as a credit the next month, etc..
But then you could have a HIGHER one month.. if money is tight, etc.. could be a problem, etc.
Good point @Gdkitty. All the payments I referred to were regular, fixed amounts. Anything else, I get a bill by email and examine it before paying. My cellphone is PayGo and I can see every call on line and top it up as needed. But if I had a high end cellphone and high end plan, I'd be afraid to have it paid automatically, sight unseen, after reading all the unexplainable spurious data overage charges I've seen reported here. Something like that I'd first like to see broken down and itemized in fine detail before paying, or dispute if it's bogus. But that's a whole other problem when people can't see that stuff on line anymore.
Thanks for the warning. For sure, a fraudulent withdrawal from your bank account would be difficult to resolve. That's why I always opt for my credit card when making PayPal payments, because there's more protection. I've never had to pay a fraudulent credit card charge, only the inconvenience of getting a new card.