BBVA: Take this in mind before automating certain payments

At present, payments automation has become a useful tool for the administration of personal finance. However, Despite its convenience, this method also entails certain risks that can affect the control of expenses. In this article, we analyze the dangers of automatic payments and provide recommendations to handle them prudence.

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What are automatic payments?

• Automatic payments, also known as “Autopagos”, allow companies and service providers to descend funds directly from a bank account or credit card on established dates. This system is commonly used to pay recurring invoices such as telephony, Internet or subscriptions to digital platforms.

Benefits of automated payments

• Ease and comfort: concerns are eliminated to remember expiration dates.
• Avoid delay charges: when payments are made in a timely manner, the possibilities of receiving penalties are reduced.
• Positive impact on credit history: Maintaining specific payments contributes to a better credit rating.

Risks and disadvantages

Despite their advantages, automatic payments can generate complications if they are not monitored correctly:

• Variable amounts difficult to control: service invoices such as water, electricity or gas can change every month, generating unexpectedly high charges.
• Forgotten subscriptions: Many people continue to pay for services they no longer use, simply because payments are automated.
• Complicated cancellation processes: Some companies make it difficult to cancel subscriptions, which can generate unwanted charges for longer.

When it is advisable to avoid automatic payments

There are certain cases in which it is preferable to make payments manually to avoid unnecessary expenses or surprises in the account state:

• Subscriptions to non -essential services: if you do not use streaming platforms, gyms or memberships regularly, it is better to avoid the automation of these payments.
• Invoices with changing amounts: in services such as water, light or gas, it is advisable to review consumption before making payment.
• Services with difficult cancellations: if a company has complicated processes to unsubscribe a service, it is convenient to pay manually to avoid unexpected charges.

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Strategies to manage payments efficiently

To take advantage of automation without compromising the control of your finances, follow these recommendations:

• Follow up your subscriptions: periodically review the services you are signed and cancel those you do not use.
• Active payment reminders: Use applications or alarms on your device to be aware of the expiration dates of your invoices.
• Opt for manual payments in variable services: this will allow you to evaluate the amount before making the payment.
• Find out about cancellation terms: before automating a payment, make sure you know the conditions to cancel it without inconvenience.

While automatic payments can facilitate financial management, it is essential to use them responsibly. Maintaining active control over subscriptions and invoices will avoid unnecessary expenses and guarantee a healthy personal economy.

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