FAQs
As much as you might resist it, debit cards should not be used to pay for online transactions; a credit card is always safer for e-commerce. You're not as protected against fraud when you use a debit card, and disputes with those cards can be difficult to resolve.
Is it safe to autopay with a debit card? ›
In general, using autopay is considered safe. Follow our guidelines: Explore your autopay options. Choices include whether you can use a credit card or just a bank account, and whether you still wish to receive an online invoice or paper bill in the mail.
Is it safe to pay bills online with a debit card? ›
Because debit cards withdraw money from your checking account, a criminal who gets your account information or PIN could empty your account. For this reason, credit cards are considered safer to use online because funds aren't directly taken out of your accounts.
Is it better to use a bank account or debit card for automatic payments? ›
Some service providers may charge a convenience fee for paying with a credit card. In these cases, it's better to pay directly from your checking account. If you regularly have a healthy balance in your checking, autopay can be a convenient way to make sure you're always on time.
What is the safest payment method to use while shopping online? ›
Credit cards, debit cards, digital wallets, and bank transfers are the safest ways to pay online.
What is the downside of autopay? ›
Cons of Automatic Payments
Your biller could accidentally withdraw the wrong amount or double-charge you. It could even fail to withdraw the money at all. Sometimes, companies continue to withdraw money even after you've canceled services.
What bills should you never put on autopay? ›
Don't: Set your utility bills on autopay. Heat and water bills can clue you into how much you're really using. For example, if you have a higher water bill, that might indicate that you have a leak somewhere that's costing you a lot of money. These bills are safer to pay manually month-to-month.
When should you not use a debit card? ›
It's easy to fall for tourist traps when on vacation — common tourist areas make for popular skimming targets. A simple way to lessen the risk of being scammed while on vacation is to use a credit card instead of a debit card. Plus, if you're abroad, you can avoid foreign transaction fees with a credit card.
Is there a downside to using a debit card? ›
Some ATMs will charge withdrawal fees, and if you use more than the agreed overdraft limit then the fees tend to be much greater than those incurred by credit card usage. Another disadvantage of debit cards is the fact that they have limited funds, which can slow down business.
Is it safe to use a debit card for purchases? ›
Payments with a debit card are taken instantly from your checking account and shopping online comes with the added risk that your information may be stolen. Using a debit card opens up the possibility that the thief will gain access to the funds in your checking account.
Debit cards are a step above cash in terms of security, but are still a relatively risky payment method. Debit cards could leave you liable for funds lost to fraud, provide criminals direct access to your bank accounts, expose you to overdraft fees and risk tying up your money in hold charges.
What is the best online payment method to not get scammed? ›
By and large, credit cards are easily the most secure and safe payment method to use when you shop online. Credit cards use online security features like encryption and fraud monitoring to keep your accounts and personal information safe.
Which payment method is best for online shopping? ›
Credit and debit cards are the most common payment methods for ecommerce transactions. They allow customers to make payments quickly and conveniently. Digital wallets, such as PayPal, Apple Pay, and Google Pay, have become increasingly popular.
Autopaying Bills: Should You Use Credit or ...GOBankingRateshttps://www.gobankingrates.com ›
Autopay is a way of setting up your bills to be paid automatically on the same day every month. Many companies allow customers to either connect directly to a b...
The main reason many people pay their bills with a credit card is its convenience, according to The Balance. Many companies allow auto-payments with credit card...
Autopay, or "automated debit payment", is a common service where money is automatically deducted from your bank account to pay bills. It can be used w...
Set it up as online bill pay through either your bank or credit card. Do not use automated debit transactions OR open and use a new checking account (separate from your primary checking account) for automatic payments. Set up alerts in advance of your bill due dates to make sure you have money to cover the bills.
What are the risks of automatic payments? ›
Risk of Overdraft
For example, if you go over on your cell phone data usage, the extra $25 or $30 in charges could potentially go over your budget, putting your bank account at risk of being overdrawn. Also, you may not be able to easily change the date that the payment is going to be withdrawn from your bank account.
How safe is paying with debit card? ›
Using a debit card opens up the possibility that the thief will gain access to the funds in your checking account. Protections are in place if a debit card has been lost or stolen and used fraudulently, but only if you notify your banking institution.
Is autopay trusted? ›
Like rateGenius and Tresl, Autopay is owned by The Savings Group. Autopay customers appear generally satisfied with the service. The company has an A+ rating from the Better Business Bureau (BBB) and a strong customer rating of 4.51 out of 5 stars.
