My automatic savings transfer failed and I didn't notice for three months

The setup for my main checking account to send $200 to my savings broke in April. I only caught it last week when I was checking my statements for something else. I had to call the bank, and they said a system update on their end caused the link to drop. Has anyone else had a recurring transfer just stop working out of nowhere?

3 comments

3 Comments

kimr7416d ago

My credit union had the same thing happen with my $150 car payment transfer last year. I don't buy the system update excuse anymore, it feels like a way for them to keep cash in checking accounts. I check all my auto-pays manually on the first of the month now because I just don't trust the automation. It's a pain but it's the only way to be sure.

wood.eric16d ago

Hot take: Banks want your cash. Check everything yourself now. Their systems fail way too often and they never tell you. I had a payment bounce once because of a "glitch" and the late fee was brutal. It's not worth the risk to just trust it. You have to babysit your own money these days.

hollyl2516d ago

Wait, they charged you a late fee for their own glitch? That's insane. I had a transfer to savings just vanish once, no record at all, and the bank acted like I was making it up. @wood.eric is right, you can't trust them. I check my account every few days now because I'm scared of hidden fees or a payment failing. It's exhausting but what else can you do?