We prefer to select the option of ECS (electronic credit system) to save time and hassle. However, if there is insufficient amount in account to clear the dues, the deal ends in paying check bounce charge and late fee. Thus, the budget becomes hefty unnecessarily and we end up in cursing our memory. The best process is to assign bank for e-mail alert if there is insufficient amount in your account or to set a reminder when account balance will drop below a certain limit. Then you can transfer or deposit the money required for extra fund. Some banks, on request, take the trouble to send an SMS alert as part of their customer care activities.

Automatic bill-payment services are great for getting monthly bills paid on time. But if you don’t have sufficient funds in your checking account, you’ll end up with hefty late fees and other charges. Avoid this by signing up with your bank for e-mail alerts that warn you when your account balance falls below a certain figure (Then make a quick transfer from savings to checking). Some banks, such as Citibank, will even send you a text message.