Automatic Bill Payment

Automatic Bill Payment

A service in which a bank allows an account holder to pay personal bills by transferring funds out of an account with an order made over the telephone. Automatic bill payment originated with savings and loan associations, which allowed customers to make these transfers out of savings accounts at a time when they were not allowed to offer checking accounts. See also: Electronic Funds Transfer.
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MANAMA: Batelco has announced a convenient new automatic bill payment service for its fixed line and mobile customers.
With automatic bill payment, which QNB says is the first of its kind in Qatar, customers will now have a "fantastic service" whereby bills will be paid automatically, without the need to worry about performing the transaction every month.
Customers who use electronic bill paying will get e-mail and other electronic alerts reminding to pay, and they will be able to go online and pay in a variety of ways, or set up automatic bill payment, Sproles said.
Al Shukaili added, "Omantel automatic bill payment system proved great success since its launch in 2010.
While the rate hike is steep, the Water Board also enacted a 2 percent discount for users who enroll in automatic bill payment.
These include on-demand banking statements, automatic bill payment and instant crediting of deposits --with or without a deposit envelope.
Avoid unnecessary fees - Use automatic bill payment options to prevent late fees.
Al Shukaili further noted, Omantel automatic bill payment system proved great success since it has been officially launched in 2010.
FACT: It takes only a matter of minutes to open a new account, transfer funds and implement your automatic bill payment options.
If the thought of automatic bill payment worries you, you can still pay your bills online and manually authorize the payments each month.
With a combined annual salary of $110,000, they opened a joint savings and a checking account in April and enrolled in online banking with an automatic bill payment option.
Once your account is established, you can also implement your automatic bill payment options.
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