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Paying bills online is kind of like filing--it takes some
time at the outset to set up your system, but once that's
done you end up saving yourself a lot of time over the long
run. The following steps walk you through what it takes to
set up an online bill-paying program:
- First you must decide if you're going to pay bills through
your bank (assuming your bank offers this service), or through
a third party vendor.
- Check out Online Banking Fees to
help you make this decision.
- Once you've set up an account with your bill paying service
provider, you will have to input the names, addresses, and
phone numbers of the payees, as well as the numbers for
each of your accounts.
- The next month when your bills arrive, this information
will show up automatically.
- When your bills come in, all you have to do is enter the
amount to be paid and the date you want payment sent to
the vendor.
- You may also set up automatic payments for the same amounts
each month paid out to the same vendors, as well as the
specific day of the month you wish to direct payment.
Bill presentment allows you to actually view and scrutinize
your bills on your computer screen, so you don't just get
a total amount due and have to take your creditors' word for
it.
Check out the benefits of electronic bill paying for the world
traveler, or if you just hate the hassle of writing checks
each month.
You'll spend more money to save yourself time, and electronic
payments may still take longer to get to the recipient than
if you mail them out yourself. Here are all the reasons why
change, in this case, isn't necessarily for the better.
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