Online Bill Payments Are Easy But...
…you better triple check that you didn’t have a typo. Here's what happened when a consumer sent the same payment to two companies.
Why this matters:
- More and more bills are being paid online these days
- Merchants have different policies on how they deal with credit accounts which means a refund may take time
- Be sure to double and triple check before you hit “submit”..getting the decimal point wrong can cause financial heartburn!
Want your students to experience paying a bill online? Be sure to check out the NGPF Managing an Online Bank Account Simulation!
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
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