Online Bill Payment

With online bill payment, consumers can make payments to companies or businesses they owe via the Internet. Online bill payment offers convenience. It eliminates the hassles of preparing and processing checks and paper documents, receiving paper bills, mailing checks, and making trips to the bank. It saves companies thousands of dollars a year on printing, mailing, and administrative costs. It also prevents late payments and penalties associated with late payments.

Signing up with an online banking system is the most common way of accessing the advantages of online bill paying. Banks use online interface that allows a client to set up bill payment. Using this interface, a client can pull funds from their checking or savings account to pay immediate and recurrent bills. For recurrent bills (e.g. phone and cable bills), the account holder can activate the automatic payment option, which allows the system to automatically payment to organizations you owe based on the schedule you provide. Another way is to set up your online bill payment account to "auto-pilot," which allows service providers to request payment from your bill pay service.

Service providers like Verizon Wireless and South Carolina Electric and Gas also offer similar online bill paying options. They also require customers to establish online bill payment account with them to view bills and send payments.