[Aachen]

Just like domain expiration grace periods. The person you're responding to isn't wrong in that the bank will also absolutely come for your house if multiple attempts don't reach you. It may be exaggerated but registrars are happy to sell you more stuff and always (in my experience with various providers anyway) send announcements, reminders, and notices even if, granted, they won't do as much effort as a bank

People also don't seem to have trouble holding onto other things in life with recurring fees