An automatic payment (also called recurring payment or subscription payment) is a payment that is automatically deducted from your account—usually a bank account, credit card, or PayPal—on a regular schedule, such as weekly, monthly, or annually. It’s commonly used for subscriptions (Netflix, Spotify), utility bills, or loan repayments.

Here’s a breakdown:

1. What is an Automatic Payment?

• Recurring Payment: Money is automatically transferred without you manually approving each transaction.

• Scheduled: The payment happens on a set date (e.g., 1st of every month).

• Convenient: Ensures bills or subscriptions are paid on time.

• Linked to Account: Usually linked to your credit card, debit card, or bank account.

2. How to Update an Automatic Payment

You may want to update the payment method, billing address, or amount.

Steps (general guide, e.g., via PayPal or a bank):

1. Log in to your account (PayPal, bank online portal, or service provider).

2. Go to Automatic/Recurring Payments or Subscriptions.

3. Select the payment you want to update.

4. Edit payment method (link a new card or bank account).

5. Save changes.

Note: Some services may require you to update the payment method on the merchant’s website rather than your bank.

3. How to Cancel an Automatic Payment

If you no longer want to be charged:

Steps:

1. Log in to your account.

2. Go to Automatic Payments / Subscriptions.

3. Select the payment you want to cancel.

4. Click Cancel or Stop Payment.

5. Confirm the cancellation.

Tip: After cancellation, check your email for confirmation and review your next billing cycle to make sure no charges are applied.

💡 Extra Tip:
Even after canceling, some services might keep access until the end of the paid period. Always confirm the exact end date.

If you want, I can make a visual step-by-step guide showing how to update or cancel automatic payments on PayPal, since that’s the most common platform for recurring payments. Do you want me to do that?