Online Bill Payments Are Easy But...

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Nov 02, 2016
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Checking Accounts, Personal Finance, Debit Cards, Current Events, Video Resource

…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. 

From abc7news:

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!

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 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 Ranzetta

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.