The Scary Tricks of Recurring Payment Changes Are No Treat

By Preston Packer |

Oct

31

The process of switching financial institutions tends to be scary for members. Realizing your billing information is out of date can haunt a member, and getting hit with several months worth of delinquent bills is a fright. In the case of recurring payments, there will come a time when billing information needs to be updated, and unfortunately, updating it can be a nightmare. This may shock members because the whole reason they chose a recurring payment method is for convenience, and ironically, updates are anything but. If a credit union wants to be a member's primary financial institution, which most if not all do, updates to the recurring payment process should be easy. Here are some things to consider about recurring payments to avoid spooking your members.

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