Billing is always a tough challenge for any business. Computerized billing systems are supposed to make things much simpler. A $16 million cable bill is the latest in a long string of unintentional overcharges that call that into question. The lesson of this giant invoice can be taken by more than just one March Madness fan, however. Putting your finances on autopilot can backfire at times. Source of article - $16 million cable bill quickly reversed by Time Warner by MoneyBlogNewz.
Ohio resident charged $16 million
In Ohio, there's a resident named Daniel DeVirgilio. He gets Time Warner cable service at his house. The charge card DeVirgilio uses to pay his cable bill got denied at the end of last month. He got notification of this. A charge of $1 million per basketball game during March Madness was put on his account by Time Warner. This added up to $16.4 million total. Time Warner changed this after the glitch occurred.
Autopay may not be a good choice
Several individuals use autopay. Daniel DeVirgilio is just like this. Monthly invoice pay services where customers just give over their credit or debit card number happen often. Bill payers are able to know their invoice will always be paid this way, without having to manually do it each month. If the charge hadn’t been $16 million and gotten his charge card dropped, Daniel DeVirgilio would never have noticed. This is the only reason why he noticed something wrong.
The policy of watchful waiting
As the $16 million cable bill illustrates, putting your finances on autopilot can be hazardous. A lot of people (this author integrated), however, have a tough time remembering the due date of every bill. You are able to do many things without forgetting to pay your bills while waiting for them to arrive. The simplest way to do this is to pay your bills as they come. Do this right when you get them, without putting them off. That may not be an option to you depending on your circumstances. If this is the case, start tracking dates on a calendar. Auto invoice pay can be a great choice for you. If you do this, make sure you are spending a few hrs each month checking your payments to make sure they're all right. The likelihood you'll encounter a $16 million cable invoice is small, however an additional few dollars each month can add up very quickly.
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