Is it okay to let my credit card company withdraw funds from my bank account to pay the credit card bill?

My brother told me he goes to his credit card company online once a month, and gives them permission to withdraw funds from his checking account to pay his credit card charges for that month.





Is that safe?? Any problems?|||It's safe.


I have a 2nd checking account set up for stuff like this, though.


My primary account is where I have my payroll deposited. If I need to pay a bill, I'll transfer funds to the 2nd and schedule it.


That way, if they ever screw up and overcharge me, it's not my grocery/rent/car/gas money that's tied up until the mess is cleared up.


And if they screw up and overcharge that other account, you just dispute at the bank and let them figure it out. Not your problem.


Use a bank that has free checking accounts and it's all free.|||As long as you are sure as it is a legitimate credit card company you are safe, If you are not giving your credit card company permission to take the money out of your bank account and they still do it you always have the option of calling your bank and telling them there was an unauthorized transaction in which case your bank will get the money put back into your account|||It is bad practise, but fairly safe. It is bad practise because it leaves you with a bank balance surprise, but even more so, if the amount withdrawn is the minimum payment that in and of itself is very bad practise.





If the amount withdrawn is exactly the total amount owing on the monthly statement, this would be what I accomplish by online banking when my statement is released. However, on occasion I will move money from my line of credit if my checking account would go into the red, so I feel that doing the online banking method gives me better control.





I do have my electrical utility withdraw their monthly amount automatically, and they do alert me in advance of the amount.


They manage to maintain an orderly withdrawal.|||I pay online by electronic transfer I control the payments' it only started 15 years ago. it goes directly to the account you specify, yes it's safer than mailing checks.|||As with any transaction, be sure the money is in your bank account BEFORE the withdrawal. If it isn't, you'll probably incur fees from the CC company AND your bank even if your bank is the one hosting your credit card.





CC company: charge for denied transaction due to insufficient funds. If it's near the due date, late fee may also apply.


Bank: OD charge


Transaction fee (some charge, some do not)|||My daughter pays all of her bills on-line every month and has for years with no problem. Personally I don't trust it. I want that canceled check back