Electronic bill payment

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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 ?
Jerry Portocalis, Senior Vice President of Sales and Marketing for BillMatrix and Marketing/Public Relations chair of the CEBP's Steering Committee, tomorrow will be moderating a case study session on how to generate rapid return on investment from electronic billing and payment programs presented by Cap Gemini Energy (formerly TXU (NYSE:TXU)), a BillMatrix client.
CheckFree launched the first fully integrated electronic billing and payment solution in 1997.
These include Electronic Billing and Payment, Extended Remittance, Export to Accounting Software, Payment Approval Workflow, and Online Customer Care.
PSCU enables its credit union clients to offer electronic billing and payment to their consumers and also supports its credit unions in delivering their own e-bill and e-statement content through the distribution model.
Since December 1999, HECO has used CheckFree's distribution model of electronic billing and payment to offer its customers the ability to access, review and pay utility bills at hundreds of CheckFree's online distribution points.
Nasdaq: MOBI), a leading provider of software for managing and presenting enterprise content, and Princeton eCom, a leading provider of electronic billing and payment services, announced today the formation of a marketing alliance that will deliver a comprehensive electronic bill presentment and payment (EBPP) solution to banks and billers.
CheckFree Corporation (NASDAQ: CKFR) today announced that it has successfully migrated TransPoint customers to its end-to-end electronic billing and payment platform, Genesis.
CheckFree i-Solutions provides software and services that enable companies to create end-to-end electronic billing and payment and e-statement applications that transform bills and statements into interactive conduits for customer relationship management, marketing, and customer self service.
Avolent has been an important contributor to the development of our core electronic bill presentment and payment technology and to the electronic billing industry in general.
Princeton eCom, the first company to present a bill on the Internet, is a leading provider of electronic billing and payment services to more than 1,000 corporations, banks, financial institutions and payment partners including Ameritech, GMAC Mortgage, United Technologies, UPS, Mellon Global Cash Management, Verizon Wireless, Cellular One, Corillian, S1, FiServ, and Jack Henry.
At the same time, billers can maintain their banking relationships when offering electronic billing to customers.
After evaluating -- and even trying to implement -- the software of other vendors, it became clear that Avolent's electronic billing solution is the only one that meets all of our needs," said Shawn Blake, Highmark Director of Information Services.
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