Setting up automatic online bill payments will give you peace of mind, knowing your payments will arrive on time.
Step 1: Gather bills Gather bills you want to pay automatically online with bank bill pay using your checking account or your checkbook. These payments can be a one-time only or on a weekly or monthly basis.
Step 2: Go online to bank and sign up Go online to your bank's website and sign up for online checking if you haven't already. This needs to be done before you can enroll in automatic bill pay.
Step 3: Follow prompts Follow the prompts, such as Bill Pay or Pay Online, as you are guided step-by-step through the process of setting up your automatic bill pay.
TIP: Call your financial online services provider to assist you in setting up your online bill pay if you need assistance. Look for the phone number for online help, normally on the same page.
Step 4: Provide information Provide the payee's name, address, and account number that you will find on your bill. Some payees require a voided check, so have your checkbook handy to provide account and routing numbers.
Step 5: Provide amount and date Provide the amount to be deducted, and the delivery date, making sure the payment will reach its destination by the due date.
Step 6: Check status Check to make sure the automatic bank bill pay you set up is running smoothly from your bank to the payee, while monitoring and maintaining the funds available. Enjoy the time you've freed up.
FACT: The total number of households using bank bill pay will increase from 48 million reported in 2009 to 63 million in 2014.