How Online Bill Pay Services Work
Enter your monthly payments into your chosen bill pay service. You’ll need to know the name, address, and phone number of the payee, your account number, and the amount due for payments that remain the same every month, such as a car or mortgage payment. For fluctuating costs, such as your electric or water bill, you’ll need to go in and adjust the amount every month. You can also set the date for payments to be made.
What To Look For When Using Online Bill Pay
When choosing the right bill paying program for your situation, you’ll want to look at and compare price, convenience, reliability, ease of use, accessibility, automation, and security.
Benefits of Paying Your Bills Online
Each online bill payment service—whether it’s a specialized software program, an app, or a website—will offer slightly different benefits. These might include same-day payments, juggling paper bills, or set-it-and-forget-it automation. You’ll also save money on checks, postage, and late fees by signing up for and using a service that fits your needs. Learn about some of the best bill pay services, how they work, and how they help you manage your finances. Prism joined with BillGO in 2018 and positions itself as an alternative to Mint Bill Pay and Unbill now that those services have gone away. You can download Prism for free on iPhone, Android phones, Windows phones and computers, and Kindle tablets. Quicken Bill Pay lets you pay all of your bills from one place. You can access both e-bills and manual bills, plus review and schedule everything right from your dashboard. Also, when you pay bills through Quicken Bill Pay as a Quicken user, your transactions are automatically updated. Paytrust offers a one-month free trial; the service is $9.95 a month after that. With both kinds of cards, you can make a one-time payment or set up recurring bill payments. If you have a credit card that awards cash back or points for purchases that you pay off every month, using this type of online bill pay can be especially beneficial. Financial institutions that offer bill pay services usually let you schedule payments in advance, which is useful for avoiding late payments.
