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If you are new to internet banking, you probably think that paying bill online is difficult and expensive. But we’ll try to prove the contrary in this article. Learn how easy you can do this.

Do you want to manage your bills without paper bills and checks? We’ll tell you about different types of online bill pay and how to set up online bill pay easily and quickly.

Types of online bill pay

There are some different servicesdescribed as online bill pay:

• Online bill pay offered by your bank
• Online bill pay offered by your service providers (phone company, mortgage company, etc)

Online bill pay offered by your bank can send money out of your bank account to whoever you wish. In different cases they can actually print a check and mail it to the recipient.

To the company that is setup within the banks system, your bank will transfer the money electronically.

If you want to set up such kind of online bill pay, you should have a copy of the bill that your service provider sends you. At your online bill pay website set up a new payee in the name of that company. Enter the copy of your address and your account number. When you want to pay just enter the amount of the bill. A check will be printed and mailed by the bank.

Double check with the payees in case they have specific instructions for receiving payments via online bill pay, to be safe. If some payees don’t recognize the check they probably will give you an alternate address or other instructions.

An online bill pay offered by your service providers only allows you to pay one company (for example -your phone company).

You should provide the company avoided check and one or two forms and authorizations to set up online bill pay with the phone company. This process, called online bill pay or ACH debit, is very similar to direct deposit

Automatic Online Bill Pay

You can automate online bill pay, if you like to automate things and don’t have to think about them. Online bill pay services allow you to set up recurring payments. Online bill pay service will take care of your insurance every quarter or phone bill every month.

You can allow money to be pulled out from you arccount by your service providers without you having to click anywhere. In such way you will let online bill pay run on auto-pilot.

Your life can become easier with online bill pay. Just set up it and you will reduce lost payments and the amount of time you spend shuffling papers.