Loan Payment vs Auto-Deduction
Has anyone else run into this issue?
Truist set up a friend with a personal loan. There were payments set up to auto-deduct monthly from their checking account through ACH payments. When my friend set up their online account, they paid an extra $100/month to pay down the loan. The following month, after paying the extra $100, the "payment amount" shown was less than the auto-deduction amount. When the payment cycle went through, the ACH payment auto-deduction was the same amount as before and NOT the lower payment amount shown on the online account. This caused a great deal of confusion. Thankfully, my friend was not hit with a double payment.
Why was a different amount showing for the payment amount online if Truist was just going to auto-deduct the same amount as last month from the checking account?