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Automatic bill deductions from any account may be convenient, but there are many problems inherent with the system.

-Sometimes it's hard to keep track of the exact day that the money will be withdrawn from your account to pay the bill, as billing dates may fluctuate due to holidays and changing pay periods. Bank transfers may not be as quick as bill withdrawals, so you have to be careful of how and when you schedule transfers.

-It's not common, but it's not unheard of for automatic billing systems to make mistakes. A company that offers you a look at the bill in advance of the billing date is probably a better company to go with than one that simply withdraws the money and only gives you a breakdown if you request one after the fact.

-Personally, I prefer to have written statements and bills on hand to reference should a problem arise. Most companies will allow you to pay online monthly without having to opt for a continuous automatic withdrawal. That way, you can peruse your bill at you leisure, making sure it's all in order before paying.

-The smaller the bill, the easier it is to use automatic bill payments, as you don't have to worry about having a very large sum in your bank at the right time (just in case a situation arises that throws your routine off, leaving you with less money than usual in your account).

Learn more about this author, Helen Garda.
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