UPDATED: January 1, 2021 – Technology really does improve everything, doesn’t it? Take bills, for example.
While nobody likes to get bills, it could be an exercise in frustration receiving, keeping track of, and paying paper bills. Things can get lost in the mail, they take forever to arrive at their destination, and you anxiously await word that the payment you submitted a week ago has been accepted.
Nowadays, the rise of home computers and the internet allow you to not only view your bills online via secured company websites, but pay those bills as well.
Whether it’s your first foray into online bill paying or you’ve been at it for a while, here are the major benefits you will receive from switching to online bill pay as opposed to paper bill pay.
Your bills will be paid on time
Have you ever received a bill, set it aside with the intent to pay it, lost track of it, and found it the week after the payment was due?
If you didn’t think to call the company and see if they had a pay by phone option or a way to pay the bill via internet bill pay, you’re now stuck with fees and penalties for your payment being late.
With automatic bill pay, you don’t have to worry about forgetting about bills, losing track of them, or when you have to mail a check. You can set everything up in advance, and the funds will be taken out automatically each month. No more stress.
It saves trees and reduces waste
Ever wonder how many trees died to print out the bill that was mailed to you? Ever think that throwing away an envelope and all the paper inserts and ads that are stuffed into a bill is wasteful?
When you switch to online bill pay, you don’t have to worry about these anymore. The company saves the paper, ink, and envelopes required to print up and mail out a bill, and you don’t have to worry about adding more waste to a landfill.
It saves you time
When you were a kid, did you ever watch your parents sit at the kitchen table with their stack of bills and their checkbook? How long did it take for them to write a check for each bill in that pile?
Since you can both make payments online and schedule future payments, there’s no need to have those lengthy bill-paying time periods in the evening.
You can earn other rewards
Do you pay your online bills with a credit card that offers rewards? Do you pay your bills within the grace period? You can be rewarded for both these activities, as well as many others.
Some rewards credit cards will give you additional points or other rewards for paying bills with it, while paying your bills within the grace period will help you avoid any finance charges or other additional fees.