It’s a pain to come off the road and have to spend valuable free time with a checkbook and stamps to pay the stack of bills waiting in your mailbox. It doesn’t have to be that way.
Most banks offer online bill payment so you can manage all your accounts from a computer.
Online banking is usually offered either as a Web-based system accessed via a normal Web browser or a system that integrates with financial software, such as Quicken. If you have your own computer and Internet access, either system would work for you, but if you depend upon Internet kiosks or other access points, the Web-based system is a better choice.
Some banks offer online banking and bill payment for free, while some charge for either or both services. Banks that do charge commonly offer a three-month free introductory period and then charge $5 or $6 per month after that. Most banks also offer unlimited payments, but some will charge a small fee for each transaction after a set number per month. If you’re interested in online banking but not committed to staying with your current bank, try shopping around for the best deal.
When you make an online payment, the bank will transfer the funds if the payee accepts electronic payments. If not, the bank will cut a check and mail it. Some companies will even send
e-bills to your online account, so you can access your bills without having to check your paper mail.
If you seem to be on the road every time your mortgage payment, truck note or utility bills are due, you can solve the problem by using online banking to schedule those payments to be made automatically every month. You can also schedule one-time payments up to a year in advance so you won’t forget. And because you can send a real check, you can pay anyone, not just your usual creditors.
Tired of trying to fit your schedule into banker’s hours? Use online banking, auto tellers and direct deposit of your paychecks, and you might never have to visit the bank again.
– Lucas Alexander