News

I recently applied for a new credit card with a digital bank that offers more rewards for grocery shopping at a major supermarket chain. This week, I received my first credit card bill, and promptly paid it in full. I also asked the bank about setting up a Giro arrangement to ensure timely and automatic payment of my future card bills. However, I was told that the digital bank does not offer such a service now, and I will have to pay my bills manually when they are due. This is a first for me, as I have always been able to set up Giro payment arrangements for my credit cards. I find this useful as the automatic payment of monthly card bills helps ensure that I do not miss a payment deadline, incurring interest charges and penalties. All banks, including digital banks, should be held to the same standard when it comes to encouraging responsible financial habits. Letting people automate payment of monthly card bills is one such example.