Insurance....merged Topic....

[BFXR6TURBOMAN]

yeah some do charge a little extra when direct debit is set not alot of them but some do, hopefully they will get rid of it all together one day, yeah but anyway happy with AAMI for now till something else comes up always does...doesnt it eheee

[PookeyMaster]

Well, it's the first I've heard of it. I know some will charge a fee if the direct debit is declined due to insufficient funds.

I honestly can't see why they would charge. They don't have to process any paperwork like they would if you paid by BPAY, cheque, or Postal. In fact, most will charge a fee if you Don't opt for Direct Debit, Optus for example charge a fee if you pay using any method except Direct Debit.

[Paulie2256]

I think old mate is confused with the pay by the month fee.

[BFXR6TURBOMAN]

like I said some still charge fees VECCI still has an ongoing $2.75 monthly charge for direct debit monthly accounts....if on the other hand you pay direct debit annualy then there is no charge so my point is "some still charge fees for direct debit monthly accounts" have a nice day guys!!

Edited 20/05/12 07:09 PM by BFXR6TURBOMAN

[BFXR6TURBOMAN]

Sorry if I didnt word it right in the begining guys but....that's what I meant ehe

Edited 20/05/12 07:37 PM by BFXR6TURBOMAN

[PookeyMaster]

  On 20/05/2012 at 7:09 PM, BFXR6TURBOMAN said:

like I said some still charge fees VECCI still has an ongoing $2.75 monthly charge for direct debit monthly accounts....if on the other hand you pay direct debit annualy then there is no charge so my point is "some still charge fees for direct debit monthly accounts" have a nice day guys!!

Lol, now that we have the full story I understand.

Well, that's the only one I've heard of but in my opinion, that's not a Direct Debit fee. That's a penalty for opting to pay monthly, especially seeing as there is no fee for paying in one hit.

If I opt to pay my NRMA insurance monthly, the annual cost will be higher than if I pay in one hit. For example, annual could be $1000 but monthly will be $85/month or $1020 over the year. NRMA could have said there is a $1.50/month direct debit fee and the end cost is the same.

I have never paid a fee for Direct Debit with NRMA, First State Super, Comm Bank, ING, NAB, UBank, American Express, Mastercard, Visa, etc. Vendors who do charge a fee must be few and far between and I would be taking my business elsewhere if they gave me that crap.

[Shyfrd]

Yeh same here. Mines $89 or something a month. Times that by 12 and its a little more than what a one hit annual fee would cost. With AAMI but I'm sure most do that, little bit more if you pay monthly

[Vitamin D]

Well I just insured mine with NRMA and I pay $102 a month with an agreed value of $45k. If I paid annually it worked out something like $130 cheaper.

[BFXR6TURBOMAN]

  On 21/05/2012 at 6:50 AM, Vitamin D said:

Well I just insured mine with NRMA and I pay $102 a month with an agreed value of $45k. If I paid annually it worked out something like $130 cheaper.

I rest my case lol

[PookeyMaster]

  On 21/05/2012 at 9:17 AM, BFXR6TURBOMAN said:

I rest my case lol

???

It's just another case of being penalised for paying monthly, not a Direct Debit penalty...