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From: 9234dwz@houxf.UUCP (T.SIEFRING)
Newsgroups: net.consumers,net.invest,net.misc
Subject: Re: Stopping automatic payments
Message-ID: <895@houxf.UUCP>
Date: Mon, 13-May-85 08:20:18 EDT
Article-I.D.: houxf.895
Posted: Mon May 13 08:20:18 1985
Date-Received: Thu, 16-May-85 07:55:50 EDT
References: <cae780.835>, <416@oakhill.UUCP>
Organization: AT&T Bell Labs, Holmdel NJ
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Xref: linus net.consumers:1735 net.invest:600 net.misc:6480

Stopping an automatic payment is very easy, simply 
demand that the bank no longer makes the payment.

You did that you say ?

Well in that case you are probably dealing NOT with
an automatic payment but with a DIRECT DEBIT. This 
is an instrument whereby YOU have authorized someone
to deduct monies from your account for a period of 
time. To stop this you must contact the person that
is presenting the debit to your account. It's kind of
like issuing them an unlimited number of cheques for
a certain amount of time. The bank can't stop the
person presenting the request for money although I
think they should have at the very least told you
how to stop the process. From your original posting 
it wasn't really that apparent that they did or
didn't.

More companies are using direct debit than automatic
payment, because they are in control of the request
for your monies and are not reliant upon YOUR bank
to either let them know you don't have funds or to
send the money to them.



    Dave Peak
    @  !hotel!dxp

"I am the God of Hellfire, and I bring you fire" - CWoA Brown