What is the difference between a recurring payment and a one-time payment?
Almost all your payments will be one-time payments. You should only use a recurring payment when you are paying someone the same amount every period. For example, you could set up your mortgage payment as a recurring payment, because the amount of the payment is the same every month. Other payments — like your phone bill or your gas bill — occur every month, but the amount you pay is different from one month to the next. These payments should be made each month as one-time payments.
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