CryptoLegend
Wed Sep 11 2024
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7 answers
1566
What happens if you don't have enough money for an automatic payment?
If you don't have enough money in your account to cover an automatic payment, the payment may be declined or returned. Depending on the payment processor and the terms of your agreement, you may be charged a fee for the declined or returned payment. Additionally, your account may be subject to penalties or late fees if the payment was for a bill or loan that was due. It's important to keep track of your finances and ensure that you have enough money in your account to cover any automatic payments that are scheduled. If you anticipate a shortfall, you may want to contact the payment processor or the company you owe money to and make arrangements to avoid any penalties or fees.
Tommaso
Wed Sep 11 2024
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7 answers
1673
What happens if there is not enough money for a direct debit?
If a direct debit is initiated but there is insufficient funds in the account to cover the payment, what happens next? Does the transaction simply fail, or are there any consequences for the account holder? Could this lead to additional fees or impact their credit score in any way? I'm curious to understand the full implications of an insufficient funds situation when it comes to direct debits.
