Online Bill Pay

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  • Review how online bill pay can simplify your life.
  • Online bill pay policies vary by bank, so read your agreement carefully.
  • Compare different banks' costs and policies.

Online Bill Pay: Save Money and Time

The pace of our lives keeps accelerating. We tend to cram more and more into the finite 24-hour day. Sometimes, things we need to do fall into the cracks and cause us problems.

Online bill pay is one way you can simplify your life, save money, and avoid financial problems. There are different ways to use online bill pay. You can set up an account with each of your individual creditors, but it is easier to do all your online bill paying by using the online bill pay service that your bank offers.

Six Online Bill Pay Pluses

1. Simplicity:

  • Pay multiple bills in one place.
  • Arrange to have your bills sent directly to your online bank account. This way, you can pay your bills without a single piece of paper touching your fingers.

2. Convenience:

  • Schedule payments to take place on a specific day that works best for you, assuring timely payment.
  • Pay bills that don't accept credit card payments. Many banks  online bill pay service will send a paper check to your creditor. A fee may apply for this service.
  • No envelopes, stamps or hassles getting to the post office,  forgetting to mail a payment that you thought you sent, or having a payment lost in the mail.

3. Speed:

  • Your online bill payments reach your creditors in a day or two.
  • It takes only a few minutes to pay and review all your bills.
  • Streamline your record keeping, with many online bill pay services. They offer you a yearly report that itemizes you how much you spent with each creditor.

4. Low cost:

  • You don't have to pay for stamps or for paper checks with online bill pay.
  • You avoid costly late fees or a hike in interest rates that come with a late payment. Online bill pay services make it easy to avoid these common mistakes that can cost you a lot of money and also damage your credit score.

5. Guarantee:

  • Many banks guarantee that the payments you make using their online bill pay will arrive complete and by the scheduled payment date. If the payment arrives late or incomplete, the bank will pay for any late fees or charges you suffer.

6. Go Green:

  • Online bill pay is environmentally sound. You reduce your use of envelopes, stamps, and paperwork. Go paperless and save a tree.
  • If you have your bank statements and all your bills arrive electronically, too, you will further reduce your environmental impact.


Some banks make their can use your bank's online bill pay with no fees, but others do charge fees. Fees range and even banks that charge fees often waive the online bill pay fees if you keep your bank account balances above a certain limit.

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