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We’ve become a nation of time-savers.
One of the simplest and most burgeoning time savers is
online bill pay. By using online bill pay, we can save
time, postage and ensure that our bill payments arrive on time.
Busy professionals and young adults are the most apt to take
advantage of online bill pay. Some people are hesitant to use
this service because they don’t understand how it works, are
distrustful of putting financial information on the web or
prefer the traditional method of paying bills by writing a
check so they can have a paper trail..
There are three ways to pay your bills
online. First, you may want to check with your community
bank or other financial institution to determine whether
they offer online bill pay to their customers. Many financial
institutions offer online bill pay as a free service to their
customers. You simply set up an online account on the bank’s
secure server, register your bills and schedule payment dates.
Secondly, you may want to use a third-party bill
pay service to set up accounts for all of your monthly bills. This
system works in the same manner. Just be sure the service you select
has a safe encrypted Internet site. To ensure that you are not being
directed to a fraudulent site, look for an image of a “padlock” in the
lower portion of your computer screen. When you double-click the “padlock”,
you’ll be able to read the certification information on the pop-up screen.
If there is no “padlock” image, you need to keep searching for another
secure bill pay service.
As a third alternative, many companies accept online
payments without charging you a fee. Additionally, once you set up an
online bill pay account with one of your creditors, the company will
send you an e-mail reminder that your bill payment is due and then send
you a follow-up e-mail after you confirm your payment.
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With online bill pay, you can schedule your payment “due date” and won’t have to worry about finding time to sit down and write checks. Should you be on vacation or have an emergency situation, you don’t have to worry about paying your bills. With your established due date, the bank online bill pay service will automatically deduct your stated amount from your account. Just be sure that you have enough money in your bank account each month to cover your payments.
If you are really serious about getting all of that clutter off your desk, you can also request that your creditor e-mail your statement to you. At the click of a button, you can access all of your account information whenever it is convenient for you. You can review payment history, transactions and recent activity so you will know if someone is using your account without authorization without waiting for a statement in the mail.
Once you see how easy an online bill pay service can be, you’ll wonder why it took you so long to get started. Just remember to always use caution any time you transact business via the Internet. Be sure to use a reliable and trusted company with a secure server.
CONSUMER TIPS is provided as a public
service by the Missouri Independent Bankers Association
AND
Community Bank of the Ozarks
P.O. Box 43
Sunrise Beach, MO 65079
(573) 374-5245
1-800-927-4314
www.cbobanker.com
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