Why is ShawGers changing the automatic billing withdrawal date?

[JeffGWpg]

I just received notice that automatic payments will be withdrawn "14 days after invoice date" instead of on the due date. What is the reason for this? If my payment is due on the 8th of the month, that is when I will pay it. If there is no financial benefit for me to make automatic payments (ie, early payments) then why would I agree to do this?
Makes zero sense.

[Gpop]

i totally agree  

[rstra]

@JeffGWpg  Could be because of the time it takes to clear the banks. You could chat or call in, but they probably don’t know either. It can be turned off. 

[JeffGWpg]

I did try chatting...never got through. Banking is all electronic. When you make a payment it is credited to the recipient account on the date of the payment. They may not see the actual payment for a couple of days but it gets credited as of the actual payment date so no interest is lost. This change in automatic payment pull will generate revenue for ShawGers as they will start earning interest on the date of the payment and I will realize the cost of the money sent on the same date. This is change will benefit Rogers and nobody else.
FWIW, Telus does similar but they pull the payment 1 week prior to due date. Shady but not as shady.

[mdk]

@JeffGWpg -- how are you paying:

1. to have allowed Shaw to automatically debit your bank-account on the due date;
2. you logon to the My Shaw Portal, and manually pay on the due date;
3. you access your bank-account (physically at your bank, or electronically via your bank's web-site) and manually credit Shaw using a debit from your bank-account ?

Each of these methods have different "lags" before Shaw's back-end computers "see" your money.

[CdnBacon128]

Basically they are getting their money early, so they improve their cashflow...I will remove the auto payment and do a manual one. 

[Bill-K]

They get free use of the money for 1/2 the billing cycle every month.  Commercially it is a great benefit to the corporation and shows how little they care about their customers.  

[JeffGWpg]

That's inaccurate. I was paying with automatic payments via my credit card which were taken on the due date. The money is credited to Shaw on the date the transaction occurs. Shaw's bank records would show the deposit on the due date and interest would accrue from that date. There is no "lag" as far as credits and debits. Automatic payments were being taken on the due date, no different than making a manual payment on the due date. 

[JeffGWpg]

delete

[Common-Sense]

I too received that message. I will be phoning Shaw on Monday. I'm not up for this. Corporate greed is all this is. Get my money early despite what our contract and the law says.