Monday, September 14, 2020

4 Benefits of Online Bill Payment To a Debt-Free Life

Because of the lockdown, more people are switching to paperless transactions, whether receiving their electronic bills or paying them via online banking.

Going paperless for your bills and online payment save time, money and other incidental costs.  Click to Tweet.

You will never have to miss payments or pay late charges because the bills did not arrive on time or you forgot to pay the bill.


 

Online Banking

 

Most financial institutions allow their clients an access to their accounts remotely.  This is free of charge and clients can check their account balance, transfer money, pay bills, and a host of other services 24/7.

 

You need to create an online account and password. Then, you may proceed by accessing the “Bill Payment” menu and make or schedule the payment of your bills.

 

4 Benefits of Online Bill Payment

 

So, why should you pay your bills online? Here are the convenience of paying your bills online.

 

1. Convenient

 

From enrolling your bills to your online banking account to the actual payment of bills, electronic transactions are easy and hassle-free.

 

All you need to have is a fund from your online account, a single password, and a device connected to the internet.

 

You can pay all your accounts in minutes. Plus, you can schedule the payment of your bills automatically, especially those with specific and recurring amounts, like your cable or utility bill.

 

2. Time-Efficient

 

It takes minutes to do your electronic transactions anytime and anywhere, whether you are in the office or off to a faraway island on vacation.

 

You can avoid the long queues in payment centers and going from one location to another so you have extra time to do other things.

 

3. Credit Card-Supported 

 

When you have your credit card linked to your online account, you can use it to pay your bills if you are short of funds.

 

Using your credit cards qualifies you to earn reward points that you can accumulate and exchange for gift items. 

 

Moreover, an airline-linked credit card can get you travel points for free airline tickets if you accumulated a certain number of points.

 

4. Environment-Friendly 

 

The environment will have a lot to be thankful for. When you shift to online payment, fewer papers are needed. 

 

Limited papers mean less energy and fuel for paper production and less waste in the landfills.


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Final Thoughts

 

Using online banking payment has become popular over the years because of its numerous benefits. There is an economic and environmental impact on using the bank’s electronic channel in paying your bills.

 

But, let us also be reminded that online transactions are prone to all kinds of scams. So, you should avoid emails from unverified sources that ask you to give your credentials.


Related Posts:   SSS Scams That You Should Avoid

                       3 Bank Scams That are Common During the Lockdown

                        

Do you have an online banking account? We love to hear your experience of paying your bills online. Please share that in the Comment Section below.



2 comments:

  1. We pay our bills online. But are careful not to be scammed. We also like that our bank budgets our money and we can have auto payments set up.

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  2. I've always paid my bills online. I've never actually done it in person haha. So much more convenient!

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