One of the best and easiest features offered by banking institution today is automatic bill payment. Online bill pay methods have changed the way that many consumers pay their bills. Automatic payment is another feature of online bill paying that has allowed customers to setup payment for regular monthly bills without any action on the part of the payer.

Pros of Automatic bill pay:

• Avoid late payments, if you setup a automatic bill pay method.
• Online bill pay can save a considerable amount of time each month
• Not only do you avoid the postage necessary to mail the payment, you avoid the possibility of late payment fees
• It’s great for predictable bill payment the ones that are the same every month
• Easy to manage your finance and the follow up

Cons that have been found with automatic bill pay

• Overdraft fees, if your account didn’t had enough funds to cover the payment on the day you will get charge overdraft fees
• Sometimes with automatic plan, stopping take bit time and difficult
• The possibility of losing track of what I paid
• Sometimes I found takes away having control of the bills

Final Word

I found the convince of having a automatic bill payment method. It’ gives me convince and freedom when I am away for a while.

Do you have automatic payment plans setup for your monthly bills? If not, what are some of the reasons? Please leave the feedback and thank you for reading.