Electronic Payments Are the Way to Go

June 4, 2010

How many checks do you write a month to pay your bills? Do you miss any payments along the way? Do the bills frequently get lost in the mail or arrive a few days before the due date? One of the most ingenious ways to ensure that all bills are paid on time is to sign up for electronic payments. Here is some banking advice to get you started on paying your bills electronically.

Since the electronic fund transfer was developed, paying bills and/or depositing paychecks directly into your savings or checking account has never been easier. One of the more convenient aspects of owning a computer is that you can sign up for electronic payments for paying bills and never have to worry about receiving paper bills again.

  • With electronic payments you don’t have to spend time writing checks, addressing envelopes, and utilizing stamps which can be costly today. Instead, creditors will notify you by email that a payment is due and you simply go to their website and make the payment. It takes all of five minutes or less.
  • The only requirement on your part is to ensure that you keep your checkbook balanced and up to date as the payments are made. Just as you would record direct deposits to your account, you can record payment of bills – and it is just as simple.
  • In addition, most credit card companies today offer incentives such as lower interest rates if you sign up for electronic payments. They also offer a credit card fraud system designed to let you know if your card has been used without your authorization. Identify theft is a concern for all consumers who utilize credit cards either in stores or – especially – online. This is just another preventative measure the credit card companies offer individuals who choose to pay through automatic deductions.
  • Establishing electronic payments can extend beyond credit cards bills. You can utilize this option for telephone bills, cable bills, car payments, insurance payments, and department stores as well.
  • There are so many benefits in using electronic payments that writing checks to pay bills has become the exception rather than the norm. Another key factor in utilizing this method online is that it is safe and easy to achieve. But, more importantly, the less paper we use the more we are contributing to our environment by saving our trees.
  • If you haven’t yet thought of using electronic payments to pay your bills, give it a try. Take out one of your credit cards and apply online. You will see for yourself how easy and convenient it can be not to have to worry about paying your bill on time. Moreover, you won’t become stressed when a bill doesn’t arrive in the mail when you expect it to. You should also begin to use the online bill paying service that is available from most banks.

    Electronic payment are the way to go!

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