NEW HDFS Payment Rules.....
Elite HDF Member
Joined: Aug 2007
Posts: 4,265
Likes: 99
From: Northern VA
Elite HDF Member
Joined: Jun 2011
Posts: 3,832
Likes: 127
From: Coastal Carolina
I don't get the "flexibility" argument. They never agreed to flexibilty. You agreed you would pay them every month by the Xth day of the month. You can set up your automatic payment to pay them on the last permitted day, so you are getting as much time value out of your money as you are entitle to consistent with your agreement. If you want to pay after that, it's late, and they didn't agree to let you do that.
On the "greed" side, there are processing costs to the bank associated with you deciding to pay on a different day every month so they want to discourage you from doing that. So they make the automatic payments free and charge a fee for the one-off payments. Verizon is now doing the same thing, and my utility company has been doing it for years.
On the "greed" side, there are processing costs to the bank associated with you deciding to pay on a different day every month so they want to discourage you from doing that. So they make the automatic payments free and charge a fee for the one-off payments. Verizon is now doing the same thing, and my utility company has been doing it for years.
Ultimate HDF Member
Joined: Jan 2009
Posts: 5,016
Likes: 277
From: East Tn Foot of The Dragon
What you have to understand is that "no it isn't right", "yes they can and will do it" and you have to live with it or don't use credit, or you can bitch about it and hope you get enough people to do so, so that they change their minds. The other thing you have to understand is that KBFXDLI is pretty much an asshat and nothing you say or do is going to change that. OOPS, Me bad. I understand where you are coming from, fortunately when things like this have happened to me I have found ways to rid myself of the problem. Hope it works out for you.
That's kinda what I meant. I do most of my bill pay online, first time one of em tells me I have to pay for the priviledge they gonna be outta here. I'll stop the paperless billing and you can pay postage and then I will send the check at the last minute.
I don't get the "flexibility" argument. They never agreed to flexibilty. You agreed you would pay them every month by the Xth day of the month. You can set up your automatic payment to pay them on the last permitted day, so you are getting as much time value out of your money as you are entitle to consistent with your agreement. If you want to pay after that, it's late, and they didn't agree to let you do that.
On the "greed" side, there are processing costs to the bank associated with you deciding to pay on a different day every month so they want to discourage you from doing that. So they make the automatic payments free and charge a fee for the one-off payments. Verizon is now doing the same thing, and my utility company has been doing it for years.
On the "greed" side, there are processing costs to the bank associated with you deciding to pay on a different day every month so they want to discourage you from doing that. So they make the automatic payments free and charge a fee for the one-off payments. Verizon is now doing the same thing, and my utility company has been doing it for years.
Elite HDF Member
Joined: Aug 2007
Posts: 4,265
Likes: 99
From: Northern VA
PS - what part of NoVA are you in? Leesburg here.
Road Master
Joined: May 2010
Posts: 979
Likes: 351
From: Wisconsin
Well actually it was a debit visa card from my credit union. But visa charges the same either way.
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Intermediate
Joined: Feb 2011
Posts: 28
Likes: 0
From: Barrington, RI
Hey JonV, I'm with you; this is nothing but greed, pure and simple. Has nothing to do with capitalism, it's just a bank trying to suck a few more bucks from their customers. There's almost no cost associated with an electronic transfer but it does cost them money to process a paper check and they're probably figuring that most of us will just pay the extra rather than go through the trouble of writing and mailing a check. We'll see. Verizon did the same thing about a month ago and it lasted for about 48 hours.
Gotta admit to being pretty surprised at how many people here think this is a great idea, very surprised.
Gotta admit to being pretty surprised at how many people here think this is a great idea, very surprised.