paying dues moth-by-month vs. yearly

[shelbyjosh]

We usually cut a big check to DVC the 1st week of Feb. Right now I am considering doing to monthly EFT. Do they break it down into 12 monthly payments? Beginning when? Any "surcharges" tacked on for doing the payment plan??

 

[RobDoc]

Our autodebit is deducted on the 15th of each month. There is no interest or surcharge. They simply divide the total due by 12.

Enjoy!

 

[DVC-Don]

Ours is deducted on the 15th of January and the 1st of the month the rest of the year.

 

[luckytso]

My understanding is that I can only pay by credit card if I pay in a lump sum at the beginning of the year. If I choose to pay in 12 payments, it has to be taken out of my bank account. Is this correct? Thanks

 

[WDWguruDH]

We had the money and were going to pay it all up front, but with no interest charges...why? So we called and talked to them about the options on the monthly, they stated electronic debit out of checking or savings, they did not offer credit card - I would assume that since there is no interest, they don't want to incurr the credit card fees.

 

[DebbieB]

Credit Cards are lump sum only.

 

[imgoingtodisney]

has anyone ever had a problem with someone going into their bank accounts and withdrawing money? Im a little leary. Please convince me that it's safe.

 

[DebbieB]

I've used it since September 1999 and have not had a problem. At least with DVC, if there's a problem, you know where to find them!

 

[drusba]

Monthly is only done by automatic withdrawal from your bank account. As to question involving problems with that, I use automatic withdrawal for Disney dues, car payments, utility bills, and house payments, and have never had any trouble.

 

[drclaws]

Also have used the checking account debit since 1999. No problems what-so-ever.

 

[Eponine]

No problems with the automatic withdrawal here, either! Can you even imagine the scandal if they started pulling wierd stuff with members' accounts?! I think it's pretty safe.

 

[ncligs]

Originally posted by imgoingtodisney
has anyone ever had a problem with someone going into their bank accounts and withdrawing money? Im a little leary. Please convince me that it's safe.

To second what drusba said, we have car payment, house payment,utilities,etc debited from our checking acct.Everything else (Taxes,tuition,cable,cell ph,etc) is automatically charged to our credit card(FF miles ). It is much easier to keep track of.I only write 1 check a month(water bill-doesn't take cc or debit ). No wasted time to write checks,buy stamps,etc.

 

[Maistre Gracey]

Direct debit here as well, with no problems. Because of the 0% interest, it seems like the logical way to go.

 

[PamOKW]

Direct debit is very common and very safe. It's really no different than someone cashing a check. Watch your statements to make sure the correct amount is coming out. However, it should be no problem. Recent articles seem to indicate that in the not too distant future, many companies/utilities will charge you more if you want to pay by check instead of electronically.

 

[crisi]

I have had one problem with direct debit, but it had nothing to do with authorized debtors pulling money out of my account.

Years ago, I had direct debit for all sorts of things (insurance, mortgage, utilities). Then my checkbook got stolen and someone wrote checks off the account, so the bank had to close the account.

It was a pain in the back end to change the direct debit arrangments to a new account, and I missed several payments that I had forgotten about.

I ended up not changing most of them, and went to setting up automatic payments in Quicken, where I can switch the accounts much easier.

 

[Johnnie Fedora]

Why doesn't DVC allow monthly billings to a credit card, that way you never have to worry about insufficient funds caused by an error in your checkbook accounting?

 

[living la vida mickey]

We've been doing the direct payment monthly from our checking account since 1993. Never had a problem. It's easy and hassle free.

 

[EROS]

The primary advantage of a lump sum credit card payment is Frequent Flyer Miles; I wouldn't recommend using a CC and carrying a balance. We have always used the monthly checking acct. debit......