With the cost of Postage increasing nearly every year, it's time to get on board with online banking and bill pay. Here are just a few of the benefits...
Save $$$ on Postage
On average we send out between 10-15 bills per month, but for sake of argument let’s say you send out 10 per month. In 2011 that will cost you $4.60 per month or $55.20 per year. How much does it cost to send a payment out through online bill pay? In most cases nothing!
Most banks offer online banking and online bill pay free of charge!
Better Organization & Instant Access
You can very easily log into your account and check on what’s going on in each of your accounts…no more waiting for a statement or calling and going through a lengthy automated service to find out what's cleared your account & what's still outstanding. You can also quickly and easily find out the details of the bills you paid.
Convenience of Automatic Bill Pay
Do you have a bill that is the same amount each month due on the same date? You can easily set up your account to automatically send out a payment for a certain amount on a certain date each month.
Avoid those pesky Late Fees
Use this feature to avoid late payments! You can set up your account to send out a payment each month, and in most cases you log in and change the amount to what is owed for that month if need be. However, if you forget to do so, you will not incur a late fee as your account has automatically sent out a payment!
This one is obvious, it takes much less time to click a few buttons to pay your bills rather then to sit down write out all those checks!
If you sign up for your banks online capabilities you should be able to quickly and easily transfer money from one account to another (in the same bank of course). This is a true time saver and I use it all the time! This could save you some bounce fees as well, if you log in and notice you may run short this month you can quickly throw some money from another account into your checking and avoid a costly bounce fee!
Save Money on Check Printing
Obviously you’ll use considerably less checks so you won’t be ordering nearly as many as you did before online bill pay….so you’ll save a few bucks each year on checks!
You can easily access your accounts and bill pay anywhere you have an Internet connection.