Paying Bills Online – Bill Paying Services

Technology has increased the speed of the world and our lives go in different directions at times, but most people still sit down at their desks, write checks, and mail out their bills. There is now a new way of paying your bills without having to worry about due dates or finding the time to sit down and do it. Paying bills on line using one of the many bill paying services is a payment method that a lot of people find easier. It can be done anywhere that has Internet access including work, vacation, or at a local park with a laptop.

The first company that was applauded by Forbes Magazine was CheckFree.com. The service is free, and it has a list of companies whose bills you can pay onsite. The problem with this site is that some banks don’t offer it, so be sure to check with your banking institution first to see if this is an option.

Paytrust.com is a bill-paying service that offers bill presentment (it has the capability to accept electronic or scanned bills via email). Paytrust.com is a convenient site that has the ability to pay any biller, regardless whether or not they send out electronic bills. Yahoo is a popular bill paying service, but they do not accept payment to any billing agency that does not use electronic methods. Paytrust.com does make its’ users assign a Paytrust.com address as the bill payer’s address. The only issue with this designated address is that the company that is billing could mistake the address for the home address, and then they could send all correspondence to it.

AOL Bill Pay Service is a hit-or-miss process. AOL has always been given credit for their clean designs and their straightforward web language. AOL’s service also has an “emailing bills” feature. However, AOL is also known for being slower and producing large amounts of error messages. The service acts as a consolidator, and then will forward you to different sites to pay your bills. Some people feel like this process is confusing and would rather consolidate on their own.

Banks now offer many of these online payment services and you can see immediately which funds are available in your account before moving on to pay the monthly bills.  Some of the top-rated sites for bill payments are Citibank, Wells Fargo, and Bank of America.  MSN Money is also leading the way for financial services for consumers, and MyCheckFree.com is free to use.

The convenience of being able to pay your bills from one website (and often paying more than one at the same time) cuts down on the overall amount of time you delegate to this task.  What used to take up to half an hour and was painstaking is now fast and efficient, using just the click of a mouse.  Also, an added advantage is that there isn’t any waiting time for your payments to reach companies.  A mailed check may take days or sometimes even weeks to reach its destination, but with online bill payments, the transactions are usually applied to your accounts in less than three days.