I did try chatting...never got through. Banking is all el... (2024)

Gpop

Grasshopper

i totally agree

rstra

Grand Master

@JeffGWpg Could be because of the time it takes to clear the banks. You could chat or call in, but they probably don’t know either. It can be turned off.

JeffGWpg

Grasshopper

I did try chatting...never got through. Banking is all electronic. When you make a payment it is credited to the recipient account on the date of the payment. They may not see the actual payment for a couple of days but it gets credited as of the actual payment date so no interest is lost. This change in automatic payment pull will generate revenue for ShawGers as they will start earning interest on the date of the payment and I will realize the cost of the money sent on the same date. This is change will benefit Rogers and nobody else.
FWIW, Telus does similar but they pull the payment 1 week prior to due date. Shady but not as shady.

mdk

Legendary Grand Master

CdnBacon128

Grasshopper

Basically they are getting their money early, so they improve their cashflow...I will remove the auto payment and do a manual one.

Bill-K

Grasshopper

They get free use of the money for 1/2 the billing cycle every month. Commercially it is a great benefit to the corporation and shows how little they care about their customers.

JeffGWpg

Grasshopper

That's inaccurate. I was paying with automatic payments via my credit card which were taken on the due date. The money is credited to Shaw on the date the transaction occurs. Shaw's bank records would show the deposit on the due date and interest would accrue from that date. There is no "lag" as far as credits and debits. Automatic payments were being taken on the due date, no different than making a manual payment on the due date.

JeffGWpg

Grasshopper

delete

Common-Sense

Grasshopper

I too received that message. I will be phoning Shaw on Monday. I'm not up for this. Corporate greed is all this is. Get my money early despite what our contract and the law says.