Setting Up Automatic Online Bill Pay

Automatic online bill pay offers an easy and convenient way to pay your bills. It saves you money because you do not have to pay for the costs of stamps and checks. Many banks offer online bill pay for a monthly service charge.

Setting Up Automatic Payments Through Your Bank

The bill pay allows you to submit payments to any company that accepts electronic payments. Have all your bills in front of you when you are setting up your payments. You will need to provide the company name, address, phone number, your company account number, and the amount of payment you would like to send to your bill pay system. Once you have provided this information you can schedule the dates you want your payments to be sent electronically.

You can elect for a one time payment, or recurring payments to be sent every month on the same day. Also, you have the option to choose how often you would like your payment to be sent during a month. The bill pay will inform you how long it will take for a payment to reach the payee, so you can be sure your payment is received on time. The bill pay will ask you to select a termination date for a payment on a bill. Your automatic bill pay can continue for as long as you like.

Setting Up Automatic Payments With A Merchant  

Many companies offer automatic bill pay, however, you are limited to their payments only. The company will set up the bill pay and will need a voided check in order for them to pull the payment from your checking account. They will ask you what day of the month you want to pay the bill and an amount. There is usually no fee associated with setting up an automatic bill pay with a merchant. You will have to contact that company if you choose to terminate your bill pay with them.

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