Saturday, August 25, 2007

Online Bill Pay: 5 Reasons You Should Use It

I am a huge fan of online bill pay. I get it free as part of my Wells Fargo PMA account. However, the vast majority of online bank accounts offer free online bill pay.

Here are my 5 favorite reasons for using online bill pay:

  1. It is a huge time saver. It actually takes me less time to enter a new payee than to write a single check. For payees I already have entered I can pay a bill in about 5 seconds.
  2. It keeps me organized. I can get many of my bills directly through billpay. That keeps me from having stacks of paper around the house. Furthermore, I can look up my prior payments without having to find a check book.
  3. It is a green activity. How many trees are lost to paper bills each month?
  4. It is more secure than you would think. I have been paying bills online for about 6 years now without a single security problem.
  5. It is a modest money saver. I send probably 10 bills per month. With postage at 41 cents that's $4.10 a month I am saving in postage.

If you have been holding off on online bill pay do yourself a favor and sign up today! If I left out any of your favorite reasons for using online bill pay be sure to leave them in the comments.

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