The first thing to understand is that the strange name “MTN LAUREL ASSC” is simply a way for a bank to give a short, concise description of where the money is withdrawn from your account. It is not some kind of a sneaky trick, just one of two pretty simple things.
- In most cases, the abbreviation is used for Mountain Laurel Assurance Company, a subsidiary of Progressive Insurance down there in Ohio. Hence, if you are the owner of an automobile or a house, then this might be your payment coming out.
- The second option is the Mountain Laurel Homeowners Association. It is an organization that manages the collection of maintenance fees for neighborhoods or condos.
The terms like “ACH DEBIT” on your statement merely indicate that the transaction is an automatic payment, but banks are making it difficult by giving all the information in a shortened form without much explanation. But yes, in most cases, it pretty much is a legit charge, all you need to do is verify it from your part.
Why’s This Charge Showing Up Now?
First, the “MTN LAUREL ASSC” charge isn’t a new thing that just pops up out of nowhere. It is something related to a subscription that you might have even forgotten about. Shopping around, you must have had a Mountain Laurel Assurance that is your regular insurance payment, for example, for the car or a house, which renews automatically every month without you noticing. You could have signed up online or via the phone, and then this happens when the time comes, and you don’t remember the date of the payment. In case the money came from the homeowners association so it would be fees for living in the Mountain Laurel community, like money for repairing the parts of the housing that are shared.
There is a chance that it is a test transaction made only once for a very small amount to verify the card; however, it is not very common. People started writing about this fee at the beginning of 2022, and it is still being mentioned by them, so you are not the only one who sees it.
How Much Does This Charge Usually Cost?
“MTN LAUREL ASSC” is a variable amount depending on the purpose of the charge and is not a random one, and other people’s reports give a decent idea of what normal is. If it’s for insurance via Mountain Laurel Assurance, the range is often from $70 to $150 per month, with $76 or $112 being typical for basic car coverage. It is possible, however, that the payments become significantly larger, reaching $200 to $500 if it is a yearly total. As for homeowners association fees, one can anticipate it to be around $100 to $350 every few months, depending on the location, and it is also quite likely to have a slight increase without getting a warning. Small money withdrawals, for example, in the range of $1 to $5, might only be a brief account check that will soon vanish, but if it is minor and continues, then it is an issue to be monitored.
