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Money and Finance > Switching to Online Bill Payment
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Posted by AimeeLou1984
Dec 14, 2006 08:44 PM
Switching to Online Bill Payment

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These days everything can be done online – even paying most of your bills! The convenience and the amount of time saved from paying online is what keep thousands of people using an online bank account to pay their bills each month. If you have never thought about it then you may want to start now. After all wouldn’t it be so much better to simply sit back, click a button and not have to worry about anything for another month?
PROs
CONs
   Direct Debit

With direct debit you get the option to pay your bills automatically every month. This means that you d not even have to worry about clicking a button! Simple isn’t it.
   Customer Service Not Always Available

Some customers have noted that online banking is not always as it seems. Customer service is not always available when you need them which can be frustrating!
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   Save on Postage Costs

Paying online is cheaper than paying through the post and that means that you are actually saving money by switching to online bill paying!
   The Transaction Times Are Usually The Same

Even when you do use online banking, the transaction times are usually the same. This means that if you get paid into the account it will still take the same amount of time to clear as it usually would.
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   Open All Hours

Online banks are open usually twenty four hours a day, seven days a week and so you can pay the bills whenever you can. This means that there is no more rushing around trying to reach the bank before it closes!
   All Fees Are Taken Immediately

When you use ordinary banking you can send a cheque off and you would have the money in the bank within five days which would be plenty of time to put money back into your account if needed. With online banking payments are immediate meaning that you need to have the money in there in the first place.
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   Bills Get Paid On Time

With online banking you simply do not have to worry about your bills being paid late. You can click a button and your payments will be made instantly, meaning that you do not have to worry about any more late fees!
   Security

Although banks do have a security feature, there is always a hacker out there who is trying to steal your personal details and online is a fantastic opportunity for them to do that.
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   Pure Convenience

Paying bills online has got to be one of the most convenient ways of paying them! You do not have to queue for hours on end at the local bank or post office and you do not have to rush around trying to get to the bank before it closes.
   Not All Banks Are Fee Free

Whilst many times you are saving money, sometimes there are fees which apply to certain features. So, always read the small print before signing up!
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