19 April 2008
Paying Bills Online
Posted by tom under: Personal Finance .
Paying bills online can help keep you on track
Anyone who still writes checks and buys a stamp to send your bill payments off through snail mail might want to give some consideration to paying bills online. There are many good reasons that make a change to the old ways a good thing.
First off a lot of banks now charge fees for writing too many checks in a month and then there is the extra cost of postage for a month’s worth of bills which can amount to a night out for the kids at the fast food drive-through. Another problem, although it happens infrequently, is that snail mail may be delayed or even lost. Then your creditor make tack on a hefty late fee if your payment doesn’t arrive in time. Worse still, a credit card company may raise your borrowing rate if the payment is lost. Late payments and increased borrowing rates can damage your credit rating as well.
There can’t be many banks now that do not offer online bill paying as a service to their customers. When you pay bills online, you have a record of your transaction and your payment is transmitted almost instantly. For added convenience, you can schedule bill payments automatically on a certain date, either as a one-time payment or on the same date each month.
You could also pay bills online using Paypal. Once you have set up your account, you can send money to just about any person or company in the U.S. The money is electronically transferred in minutes. This is particularly useful when you want to send money to a friend or family member who’s stranded in a distant location.
You should not need not to worry that your financial information may fall into the wrong hands. Paying bills online, means you are transferred to a secure server before you ever disclose private information or financial data. You’ll know you’re on a secure server by looking at the url name in your browser window. It will read, https://www.bankname.com. The letter s, following the http means it is a secure server. Your information is encrypted and cannot be accessed by anyone else.
Tere are several advantages to paying bills online including avoiding having to pay late fees or having your interest rate increased, thus maintaining a good credit score, or improving a less than perfect credit rating. You also save the hassles and expense of postage or mail delivery problems. Once you start paying bills online, you’ll see this payment method is quick, safe and convenient. It is the way of the future and there is no reason not to change from the old ways.
One Comment so far...
» Paying Bills Online Says:
19 April 2008 at 4:56 am.
[...] About Business Data News wrote an interesting post today onHere’s a quick excerptPaying Bills Online Posted by tom under: Personal Finance. Paying bills online can help keep you on track Anyone who still writes checks and buys a stamp to send your bill payments off through snail mail might want to give some consideration to paying bills online. There are many good reasons that make a change to the old ways a good thing. First off a lot of banks now charge fees for writing too many checks in a month and then there is the extra cost of postage for a month’s worth of bills [...]