While most people use mobile banking apps/online accounts to pay their bills, they are frequently perplexed by the various options available. Is it necessary to pay through the billing company? Is it preferable to pay through your bank? Can you use both options simultaneously? Understand how to make online payments in order to understand the benefits of each option and simplify the process.
How to Make an Online Bill Payment
There are two types of mobile and online bill payments.
You can go directly to the billing company's website/app, such as your cable company or insurance provider, and pay the bill there. In most cases, you can use your credit/debit card or arrange for your bank to debit it from your account. One advantage of paying on the billing company's website is that you know exactly how much you need to pay. It can be tedious to log in to multiple sites every month if you have multiple bills.
Another possibility is to pay a bill through your bank. This service is available at almost all banks, financial institutions, and credit unions. You simply need to configure your mobile banking app/online account and make a bill payment in a matter of seconds. It's as simple as selecting the payee/s, entering the due amount, and deciding on a delivery date. If you do not want to pay your bills by hand on a monthly basis, most banks allow you to set up automatic recurring payments, allowing you to schedule your payments to avoid missing a bill payment when it is due. Simply log in to the provided space and remember your password to streamline your payments. It is also simpler to check your account balance.
The Benefits of Online Payments
Paying online with your mobile device is quick and simple, and you can schedule payments. Your payment dates can be synced with your paychecks/bills from different accounts. Most importantly, most banks and billing companies use advanced security measures. For example, Bank of America encrypts your personal information so that it cannot be read while in transit and automatically signs off when your banking session is open but inactive for an extended period of time. Aside from security, using electronic payments can save you money on cash and stamps.
Overall, whether you pay through your bank or a billing company, electronic payments allow you to manage, monitor, and review your payments. You can also look for specific bills you paid. You can view your payment history whenever you pay multiple bills online through your bank or mobile banking app. In addition, many banks offer email notifications as a reminder of upcoming payments."""