Risky Direct Debit – How to Avoid It

Nowadays, more and more Australians prefer automated payments, so that direct debit is becoming very popular. Even though they are not new, the risks of this type of withdrawal/payment have increased during recent years.

In the category of direct debit risks, specialists include uncertain fees, changes in the terms and conditions and currency rate movements. But how to make safe transactions and avoid all these risks?

Direct Debit – Keep Track of Your Transactions

Unfortunately, not many people keep track of their transactions. As the direct debits are charged to your customer account, you may easily lose track of the services and products you buy. Most consumers set their preferences when they create their accounts, and then simply forget about them. You should take a look at your options and check them for every account you use for online purchases, especially if you use them often.

Pay Attention to the Currency Rate Movements

In you buy from Australia, there is no need to worry about currency rate movements, because there is definitely no difference between the currency of your direct debit and the actual payment. But many Aussies opt for overseas services. The danger of paying more than what you expect when using these services is real, as the Australian dollar is declining. For example, if you buy some goods from the USA, from a website you have been using for several years now, you will probably not pay any attention to the depreciation of the Australian dollar. This way, you will perceive the price of the products the same as you used to perceive it a year ago.

Be Careful About Free Trials

Free trial periods are another trap for numerous Australians. There are certain sites which provide their services for free for a period, but they require your credit card number before starting this trial. One of the most popular websites that use this technique is LinkedIn – a professional social media site. If you want to make a premium account here, you are free to do it and enjoy your free trial but don’t forget that at the end of this period, if you do not deactivate the premium option, a sum of money will be automatically drawn from your credit card. This problem is also common to certain small business platforms or even antivirus software. If you really want to enjoy the benefits of a free trial without having to pay anything when this ends, you should pay attention to the date of its ending. You can do this by simply setting a reminder on your mobile phone or email Calendars.