Information on using bill pay service to pay rent - The Bills.com Blog

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Information on using bill pay service to pay rent

Question: My apartment only takes checks for rent and does not send me any official bill. I must remember to pay them with a check every 1st. Is Bills.com something that will be sending them a check every month and charging my credit card for it?

Answer: Thank you for your question. Unfortunately, the Bills.com Bill Pay Service was discontinued effective September 29, 2007, therefore we are disallowing enrollments forthis bill pay site. Please visit http://www.billx.com to enroll in Bill Pay Service.

As you are interested in online Bill Pay service let me give you some information about the service.

Online bill pay is a service offered by banks, brokerage firms, and other private companies that allows you to pay your bills online using your web browser. If your bank offers online banking (access to your account information and transaction details online) chances are good that they also offer an online bill pay service. These days, most banks and financial institutions offer online bill pay at no additional charge, if you have less than 20 bills to pay each month and if you go over that number, a nominal fee usually applies.

Here is how it works: Once you sign up for the online

bill pay service, you will be given a user name and password to gain access to the bill pay system. You will then log in and enter the account numbers and other payment information for the bills that you pay each month. You can decide to pay these bills manually or set up rules for automatic payment. If for example you have a bill that is always the same amount each month (your mortgage for example) the system can be configured to pay the bill the first of every month automatically. The same is true for credit cards and other recurring charges.

You can virtually eliminate credit card late fees by setting up an automatic payment that makes the minimum scheduled payment each month for you. If you need to make a manual payment, you can simply select the bills you wish to pay, enter the amount for each payee and submit the

payment. Many online bill pay systems also allow you to schedule the exact date of a manual payment. One of the really great things about online bill pays is that there is no restriction on the number of payments you can send each payee each month. If for example you decide to make a manual payment to a credit card in addition to a scheduled minimum payment, there is no penalty. It is important to remember that just like sending a payment in the mail, it can take several days for the payment to reach its destination so you have to plan accordingly.

In your case, make sure that the bill pay service provider you choose is able to make the rental payments to your property management company.

I hope the information helps you Find. Learn. Save.

Best,
Bill
www.bills.com

Also, make sure to get a free financial health check-up with Bills IQ!

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Bill has answered all sorts of questions and has been able to provide those in need of financial guidance with helpful and valuable advice and information on their specific financial area of interest. If you need specific guidance on any of the above mentioned financial areas, feel free to Ask Bill your financial questions and get better informed. Also, make sure to get a free financial health check-up with Bills IQ!

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