Be really careful....read the fine print..ALL the fine print.
Personally I would not want anyone to have that kind of access to my accounts.
A buddy of mine went so far as to set up a seperate account for his gym etc memberships that require EFT.
Such automatic payments are not just a matter of trust with teacher...but trust in whomever might be running the BUSINESS and whom might have access to the information.
If the business is selling the paper (contract) for 50 cents on the dollar to a 3td party then its a credit agency that is actually collecting your money.
Who knows if they are legit or whom might have access to your hard earned cash.
If the students are asking, I'd see what I could do about turning this into a business opportunity---something could probably be set up with local bank that could be good for you both.
Edited by cxt (03/20/08 12:02 PM)
I did battle with ignorance today.......and ignorance won.