From: edgar@spectrx.sbay.org (Edgar W. Swank)
Date: Fri, 3 Jun 94 12:45:44 PDT
To: cypherpunks@toad.com
Subject: digital clearinghouse idea
Message-ID: <6B1cNc9w165w@spectrx.sbay.org>
MIME-Version: 1.0
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Eric Hughs said,

    If you use the ACH system, you can't pre-authorize sporadic payments
    for arbitrary amounts.  ...

Not true.  Counter-example:  I recently authorized automatic (ACH)
payments from my bank account to pay my Discover Card (tm) bills.
These are both sporadic (some months may have no purchases) and in
varying amounts, usually a few hundred dollars, occasionally a few
thousand.

Personal note:  This feature of DC is especially valuable, since they
tend to have a short billing cycle and send their statement around the
middle of the month, too late to pay with all the other monthly bills.
The automatic payment is scheduled -after- the time limit for normal
payments, at the start of the next billing cycle (but still no finance
charge).

DC does not publicize this option. You have to call them & ask about
it.

ACH also pays my PG&E bill, which is not sporadic, but (obviously)
does vary in amount. Same with the water bill.

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--
edgar@spectrx.sbay.org (Edgar W. Swank)
SPECTROX SYSTEMS +1.408.252.1005  Cupertino, Ca