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0 pointsitcrowd6y ago0 comments

> Every other form of payment online is “pull"

Sorry, but if I transfer funds to a friend from my banking app, how is that "pull"? If I send you money with PayPal, that's not "pull". If we settle our debt using e.g. TransferWise, that's not "pull"..? I don't get your point. There are plenty of "push" methods.

0 comments

layoutIfNeeded6y ago

If PayPal decided to charge you a $10 per month for “maintenance costs”, how would you stop them from doing so?

pjc506y ago

Well, if they're not authorised, dispute it with the bank?

https://www.directdebit.co.uk/DirectDebitExplained/Pages/Dir...

mattmcknight6y ago

Can you pay your electric bill with those?

itcrowdOP6y ago

Yes, I pay all my bills by bank transfer (house, electric, internet, settlements with friends etc). It's the most common payment method here (I'm in Europe).

PayPal et al are barely used here because the bank transfer system is free and frictionless.

Symbiote6y ago

I'm guessing, but I think most people probably give the electric company permission to pull the money from their account (direct debit) rather than reviewing the bill and "pushing" the money every time.

There are very strong guarantees in the individual's favour if the company makes a mistake.

tialaramex6y ago

Although, you need your bank to actually fulfil the guarantee, depending on how terrible your bank's customer service is, this may be a lot of trouble.

I've actually done this (use the DD Guarantee to unwind bill payments I didn't want paid) with my good bank and it was a pleasure, no trouble at all. But I can imagine that a bank with bad customer service is going to make it a nightmare that will suck up hours of your life.

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mattmcknight6y ago

Yes, having them control the amount and timing of the transfer is exactly what I am trying to avoid. I can easily set up direct debit, but it has led to too many erroneous and poorly timed withdrawals.

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mattmcknight6y ago

So the electric company gives you their account number to use?

Symbiote6y ago

Yes, as an example here's a major British energy company:

> Our bank details are: > Bank account number - 99183129 > Sort code - 57-40-99

https://sse.co.uk/help/bills-and-paying/how-to-pay-your-ener...

This company is easily large enough that their bank details are already listed in online banking systems. You can choose "Pay a bill", then select "Southern Energy" rather than type in those account details.

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gpvos6y ago

Yes, you can. However, since the last few years, the electricity company has started to charge something (about € 1,50 per month I think) for that. (Netherlands)

j / k navigate · click thread line to collapse

0 comments

layoutIfNeeded6y ago

If PayPal decided to charge you a $10 per month for “maintenance costs”, how would you stop them from doing so?

pjc506y ago

Well, if they're not authorised, dispute it with the bank?

https://www.directdebit.co.uk/DirectDebitExplained/Pages/Dir...

mattmcknight6y ago

Can you pay your electric bill with those?

itcrowdOP6y ago

Yes, I pay all my bills by bank transfer (house, electric, internet, settlements with friends etc). It's the most common payment method here (I'm in Europe).

PayPal et al are barely used here because the bank transfer system is free and frictionless.

Symbiote6y ago

There are very strong guarantees in the individual's favour if the company makes a mistake.

tialaramex6y ago

Although, you need your bank to actually fulfil the guarantee, depending on how terrible your bank's customer service is, this may be a lot of trouble.

1 more reply

mattmcknight6y ago

2 more replies

mattmcknight6y ago

So the electric company gives you their account number to use?

Symbiote6y ago

Yes, as an example here's a major British energy company:

> Our bank details are: > Bank account number - 99183129 > Sort code - 57-40-99

https://sse.co.uk/help/bills-and-paying/how-to-pay-your-ener...

1 more reply

gpvos6y ago

Yes, you can. However, since the last few years, the electricity company has started to charge something (about € 1,50 per month I think) for that. (Netherlands)

j / k navigate · click thread line to collapse