Michael Atkins
Is there any truth to £96 is your fix”? No. £96 is your fix” is an internet myth. A bill payment remittance, which appears at the bottom of an invoice, is a way for you to send a payment to that biller. It is not a payment to you. The bottom portion of an invoice, or bill, referred to in the CPA Rules as a bill payment remittance, cannot be “redeemed” or “accepted for value” by the person who is required to pay an amount owing. Signing a bill payment remittance or writing any personal information on it is not a valid way to pay or somehow “cancel” the amount that you owe the biller. Not paying for goods or services can have serious legal consequences, which fall outside the CPA’s jurisdiction. To pay a company to which you owe money at your financial institution, you give the financial institution the bill payment remittance along with a payment from your own funds. The information on the bill payment remittance permits your financial institution to send your payment to the company’s financial institution electronically, and the payment that you have made is then deposited into the account of the company that you are paying.