What are the disadvantages of automatic payments?

[Kross]

Automatic payments is a feature of mobile money apps that that makes the app to execute a payment that has already been defined with details. Automatic payments is good for savings and for debts payments.

What are the possible disadvantages of automatic payments?

 

[King Belieal]

With automatic payments for your bills and utilities, a billing error can happen which would make them charge you over the ideal amount you are to pay. And you might not even know that you are being overcharged unless you keep reviewing your payments history.

 

[Suba]

There are several disadvantages to automatic payments or autodebit payments. Firstly, we as customers become less active in managing finances. If users or customers are too confident then if there is any disruption or delay we will be fined. If a customer has activated automatic payment, it will be difficult to return to manual, such as if you already need a Netflix or Spotify subscription, you will be required to continue subscribing.

 

[Min George]

I used to do auto subscription for Netflix and it was terrible when the last funds I had was taken to do the subscription even when I didn't really need it.

 

[eLdavis]

One major disadvantage when it comes to auto payment is that there might be a time where you need to sort out other things and you might not be in the mode to pay, but since it's automatic...

 

[Springtime]

The main disadvantage of automatic payment is that when there is an error in the bill and you need to rectify it or get a refund. it takes time.

Post automatically merged: Jun 2, 2024

The main disadvantage of automatic payment is that when there is an error in the bill and you need to rectify it or get a refund. it takes time.

 

[King Belieal]

Automatic payments can always be cancelled but the thing is that most people forget that they they had set automatic payments for services till the payments are deducted, including me.

 

[neku]

Sometimes the service is not available or the business shuts down, yet the payment will be automatically deducted from the bank or paypal account, which is a waste of money.

 

[Fidelia]

Sometimes the service is not available or the business shuts down, yet the payment will be automatically deducted from the bank or paypal account, which is a waste of money.

That's another dimension. There is no way for the payment system to check if the service is still available, all it does is send out payments on the specified data. When you set automatic payments, he sure to check on it every time.

 

[Stardom22]

The automatic mode of payments may not be very appropriately as it may leads to the loss of funds as payments may go to the wrong accounts especially when the users changed their accounts.