Quote:
Originally Posted by Alan A
Actually - having been poor while younger - I can understand that.
If you allow access to your account when it’s fluctuating around zero you can guarantee that $ will be pulled at the worse possible time and you’ll go negative it’ll be declined and you’ll get hit with a bunch of fees.
Better to pay a bit more and be able to control paying it when you know the $ is available. It may seem like it costs more but in the end you sleep better knowing you aren’t paying a ton of unexpected fees.
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And because of that, the rule in this biz is generally to set the draft date for SS billing. Most insurance companies can set it up to draft one's account on the 2nd, 3rd or 4th Wed. or whenever they get their SS money. If that day falls on a weekend or holiday, it drafts the following business day. It can be a problem when it's a long weekend, because SS usually comes on time or early, never late. So those folks can sometimes still empty out their accounts before the insurance gets their draft. Just yesterday I got another call from a panicked customer that his account had been hacked and he was worried about his insurance premium bouncing. I just don't understand how so many people's bank accounts get hacked. If I were a criminal, I'd want to hack HughR's account
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