On 3 Oct 2006 at 14:19, Dave Jackson wrote: > Most recurring payments are made using the Direct Debit system which > can cope with fluctuations and has a cast-iron system of > challengeability should a mistake occur.
Well, I won't use *any* direct debiting scheme here in the US and mostly I advise folk who do that they're being foolish. How does the 'cast-iron' scheme work? if a company over-debits your account due to some contested matter [or just a screwup on their part] and now a score of *OTHER* "debits" begin to bounce due to insufficient funds, how do they sort it all out, undo the late fees [and other charges] from the third-parties that ended up getting stiffed because of the screwup of the first party and then fix your credit rating/report not to reflect all the "bounced debits", etc..?? I note that a similar thing happens with credit cards: you go to buy something and discover that due to a bogus/incorrect charge you're not over your limit... but I find that a VERY different situation from the similar case for a debit card where you learn that you can't buy something because your checking account has been emptied. /Bernie\ -- Bernie Cosell Fantasy Farm Fibers mailto:[EMAIL PROTECTED] Pearisburg, VA --> Too many people, too few sheep <-- -- ---------------------------------------- WIN-HOME Archives: http://PEACH.EASE.LSOFT.COM/archives/WIN-HOME.html Contact the List Owner about anything: [EMAIL PROTECTED] Official Win-Home List Members Profiles Page http://www.besteffort.com/winhome/Profiles.html
