Is it advantageous to use direct debit to pay bills?
Do you always forget to pay bills that arrive by email or mail? Then it's time to learn about automatic debit!
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If you want to simplify your finances, direct debit can be extremely advantageous.
After all, whenever you forget to pay a bill by the due date, you end up having to pay interest, which is certainly not good for your finances.
While autopay isn't the best option for everyone, it's a really convenient way to pay bills!
And if you want to know more about this tool, continue reading.
What is direct debit?
Direct debit is an option made available by banks to speed up consumer payments.
This service allows you to register a recurring account so that payment is made automatically on the due date.
In short, your bank is responsible for withdrawing the amount from your account and transferring it to the supplier.
This way, if you have a lot of bills to pay and are lost with deadlines, you can save time.
However, it is important to remember that payment will only occur if the money is in your account on the day of collection.
Here are some examples of accounts that can be registered for direct debit at most financial institutions:
• Telephone bill
• Internet account
• Health insurance account
• Electricity bill
• Gas bill
• Water bill
• Subscription service accounts
• Municipal, state and federal taxes and duties
How do I request direct debit?
This tool will only be activated with your authorization.
Each application has its own ways of performing activation, as well as its own verification and security steps.
It is important to check the agreement that your bank offers, as not all banks offer this service.
What are the advantages of using direct debit?
Among the main advantages of direct debit, we can mention:
1. Payments on time
By signing up for direct debit, you don't run the risk of forgetting to pay your bills.
This way, they will always be up to date.
You certainly have several bills to pay, right? Internet bills, electricity bills, credit card bills, etc.
To make your financial routine easier and ensure that payments are always up to date, direct debit is a good option.
2. Visible appointments
Financial institutions that offer this function make it easier to view these values.
As soon as they are posted, but before they are debited, the debits appear as scheduled on your bank statement.
From this you practically get an additional resource to plan your monthly payments.
Obviously, for automatic payment to take place, you must ensure that on the day the amount is debited from your account, you have the necessary balance.
3. Economy
Anyone who forgets to pay a bill within the due date will have to pay interest.
If this happens, you end up having to spend money that could still be with you.
Even if these interest rates aren’t that high, remember that it’s entirely possible to avoid them. One way to do this is by paying your bills on time.
This way, you can save money and improve your financial organization.
4. Broad support
The vast majority of services offer this tool to their customers.
As it is a consolidated practice in several sectors, it is difficult to find an account that does not have a connection to this system.
The best thing of all is that the registration process is very simple, as most accounts come with the direct debit code in the footer.
5. Cashback on card
Some financial institutions already offer this modality cashback.
In other words, in addition to the customer not having to worry about paying the bill, they also receive a refund.
What are the disadvantages of direct debit?
This service brought a lot of practicality and organization to Brazilians.
However, it is also important to know the precautions you need to take when using direct debit. Check it out:
1. You need to have money in your account
As you already know, you need to ensure that there is enough balance to pay your bills on the accounts where this function is active.
For example, if the amount that will be debited from your account is R$ 100, on the date of automatic payment, you must have at least that amount in your account.
Otherwise, you run the risk of having the amount discounted from your overdraft or paying fees and interest that could have been avoided.
2. Fraud cases
Imagine the following situation: you registered your credit card account for this function. However, it was cloned and several purchases began to be made in your name.
The first step, obviously, should be to contact the card operator to cancel the charges.
However, if the card's expiration date passes, the amount of purchases that were made by someone else, such as your card number, will be automatically debited from your account.
If that happens, it becomes a little more difficult to get that money back.
For this reason, it is very important to always keep an eye on your bank statement and your card bill. That way, if you notice something wrong, you can resolve the problem in time.
How do I cancel direct debit?
All financial institutions allow you to cancel direct debit.
However, each of them has a different procedure, depending on the bank's application.
Furthermore, it is important to mention that there is a minimum period of notice to cancel or suspend transactions already scheduled for direct debit.
This period is normally one business day.
Conclusion
As you can see, direct debit has several benefits and can make your life easier when paying your bills.
After all, by using it, you can save time and gain more practicality in your daily life.
However, to avoid problems, it is necessary to take some precautions. This way, you can better enjoy the benefits of this service.
