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Investing

Standing Instructions

Often we instruct our telephone/mobile company to automatically deduct via ECS the outstanding bills. Its a major convenience, as it saves us from the hassle for remembering to pay the bill and standing the queue for it. But one must also remember, it could be a trap. Like the Hutch’s Pay by Card Enrollment Form has the following printed clause:

I also agree for an interim charge to my account on any unbilled amount, at the discretion of Hustchison Essar South Limited.

Isn’t it as good as writing a blank cheque… sorry signing a blank cheque book.. for the instruction is Recurring.

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