The Many Benefits of Online Bill Pay

Online Bill Pay is a service provided by many banks as a part of Online Banking. Online Bill Pay can be used to pay nearly any bill, and the bank sends payments either electronically or by check using funds from your account. If you’re not using the Online Bill Pay service provided by your bank you’re missing out on many benefits including saving time, saving money, decreasing clutter, and improving your financial management.

Saving Time

Setting up a payment through Online Bill Pay is quick and easy. You can usually search for a biller and simply add a payment for them. Many people visit numerous websites with separate logins to pay all of their bills, but with Online Bill Pay you can save that time by paying all of your bills from one website. If you’re in the habit of paying bills by mail, you can also eliminate the time it takes to prepare and mail checks.

Saving Money

You can also save money with Online Bill Pay by eliminating the checks and stamps associated with traditional bill payments. Plus, Online Bill Pay services are frequently included with a checking account at no additional cost. (Check with your bank for details.)

Decreasing Clutter

Many companies offer electronic bills through Online Bill Pay. These bills can replace traditional paper ones. You can decrease the amount of mail you receive and paper that you have to handle by switching to electronic billing. You’ll receive a notification when your electronic bill arrives so that you can review it and take action if needed.

Improving Your Financial Management

Online Bill Pay also puts you in control of your finances. You decide when your money leaves your account and you can set up recurring payments giving you the peace of mind that your bills will be paid on time. Payment amounts can be changed and payments can be cancelled before they are sent. Furthermore, because Online Bill Pay is integrated with Online Banking, you can get a clearer picture of your finances when you pay your bills through Online Bill Pay. All of these features translate into better management of your finances.

Sign up for Online Bill Pay today through your bank’s website to save time and money, decrease clutter, and improve your financial management.