Electronic bill payment

Electronic bill payment.

If you have an electronic bill payment arrangement with your bank, your bills are sent to an account you designate and the bank pays them automatically each month by deducting the money from that account and transferring it to your payees, either electronically or by check.

The advantage of using electronic payment is that your bills will be paid on time, though it is your responsibility to ensure that there is enough money on deposit to cover what's due.

When the payments are made to credit accounts with the same bank, you may be offered a slightly reduced interest rate for using the service.

However, you'll want to investigate whether there's an added fee for automatic payment and how much flexibility you have in determining how much of a bill's balance due is paid each month on credit accounts where you have the option to pay less than the full amount owed.

References in periodicals archive ?
They will also have the option to sign up for an ongoing electronic bill payment relationship or to make their loan payment quickly with no sign-up required.
M2 EQUITYBITES-January 23, 2013--Fiserv, Bank of America extend electronic bill payment pact(C)2013 M2 COMMUNICATIONS http://www.
31 July 2012 - US lender TD Bank has adopted the CheckFree RXP solution provided by Fiserv Inc (NASDAQ:FISV) as part of efforts to offer electronic bill payment for consumers and small business customers, the US financial services technology provider said Tuesday.
Global Banking News-July 31, 2012--TD Bank selects electronic bill payment solution(C)2012 ENPublishing - http://www.
Best Software plans to begin offering electronic bill payment this month through the company's partnership with Metavante Corp.
As a result, the financial services industry faces significant uncertainty regarding potential investments in electronic bill payment technologies as well as in debit cards, smart cards, stored value, e-cash, check imaging, and check conversion technologies.
Source Technologies, a leading provider of integrated solutions for managing financial transactions and other secure business processes, announced its partnership with ChoicePay, an electronic bill payment solutions provider.
NASDAQ: FISV) announced today that it has experienced steady market momentum for its Paytraxx[TM] solution since launching the electronic bill payment product last spring.
Applications range from the recharge of prepaid accounts via SMS, to electronic bill payment and presentment, to billing for mobile content.
Once an application is completed, Group 1 Software's document creation and management technologies can generate automated policy and billing documents - either printed or electronic - and store those documents for online access by agents and customer service personnel, or for electronic bill payment and presentment services.
Payment Data is the owner of the electronic bill payment portal, http://www.
Polish Post branches will be able to use eService and the VeriFone solution to deliver services including cash advance, mobile top-up, and electronic bill payment.
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