what are possible advantages and disadvantages of using automatic withdrawal to pay bills? check all that…

what are possible advantages and disadvantages of using automatic withdrawal to pay bills? check all that apply. not having to keep track of the balance in a checking account avoiding late payment fees having to share your account information not having to find a stamp and a mailbox not knowing when the payment will be taken out of your account possible overdraft fees if there is not enough money in the account to cover the payment amount having to pay a fee for the service

what are possible advantages and disadvantages of using automatic withdrawal to pay bills? check all that apply. not having to keep track of the balance in a checking account avoiding late payment fees having to share your account information not having to find a stamp and a mailbox not knowing when the payment will be taken out of your account possible overdraft fees if there is not enough money in the account to cover the payment amount having to pay a fee for the service

Answer

Answer:

  • Advantages:
    • B. avoiding late payment fees
    • D. not having to find a stamp and a mailbox
  • Disadvantages:
    • C. having to share your account information
    • E. not knowing when the payment will be taken out of your account
    • F. possible overdraft fees if there is not enough money in the account to cover the payment amount
    • G. having to pay a fee for the service

Brief Explanations:

Automatic - withdrawal advantages include avoiding late - fees and eliminating need for stamps/mailboxes. Disadvantages involve privacy risks (sharing info), lack of payment - time knowledge, potential overdraft fees, and service fees. Also, not having to keep track of balance is not an advantage as it can lead to issues, so it's not selected.