Opinions wanted: Online bill pay vs. going to company websit

carlylily

I posted this on my facebook but this site has a much larger audience!

What is better? Paying a bill online through the company's website or using online bill pay through your bank and having them send out the payment?

I pay almost everything online and I'm considering switching and using my bank's free online bill pay. I have started doing it for my mortgage because I can't pay my mortgage online and I'm too lazy to write a check. I am just curious what the advantages and disadvantages are to using online bill pay. Thanks!

DixiedoesMFP

With my bank's online bill pay, I could schedule all the payments in advance and they were set to recur, so I only had to visit one site to authorize payment instead of multiple sites (remembering logins, and passwords, etc.) However, through my bank it wasn't actually free (even though it said it was) so I stopped using it because I didn't want to spend $5 a month just to pay a bill.
What I actually do now is use one credit card to pay all my bills (set to bill to it automatically so I can't forget) and then pay the credit card bill each month (so I'm never charged interest).

ckmama

your bank has record of what was paid and when it was sent out. It's like having a back up plan. I use mine for everything. I think I've written 5 checks all year, and that was because it was a local company and I waited to late to schedule it with the bank.

It saves me .44 cents per bill, gas money, and it is all in one place. I don't have to go from site to site.

BrianJLamb

who is your bank?

Aussie4870

i always use my banks online bill pay...its easier for me to keep track of what has been paid and to just log onto one place to pay all my bills rather than different websites...

sometimes ill think that i havent paid something (mummy brain!!!) and its really easy for me to look back at my paid bills to see if i have or havent..

i also like that for things that i pay every month i can just set it up as an automatic payment or have a reminder set when the bill is due...

nehtaeh

I do both. I pay some bills through my bank and some at the company website. For bills that get electronically transferred from my bank it's not a big deal, those happen within about a day. I have other that take up to a week or so. Depending on when I make the payment, I might have to use the company to get it in on time. It's free for me either way so I just do what needs to be done. Both are acceptable, never had a probelem, and they are both free.

shaj316

I prefer to do it via my bank (chase). I like the one stop shopping aspect of it PLUS they have a very good smartphone app (i use and iPhone). Not only can I scan an expense check in to my iPhone to deposit it but then I can turn around and pay the credit card bill in a few more button presses. It's pretty awesome.

anewattitude

I pay my bills online through my bank. It's quick and easy.

tolygal

I use my bank's bill pay. It's WAY easier and faster for me to go to one spot than to have to go to all different sites, log in, pay bill, etc. Plus, not all of my bills have a web site.

CoachSid

Use a CREDIT UNION and save money all around

jennajava

i have everything set up to come out automatically. mindless and easy.

carlylily

Whoops, not sure how to individually reply...I bank with Suntrust and have been for the last 6 years. Never used their online bill pay before last month. I always just go to each site (about 7 of them). Seems like it would be a lot easier to go to one and pay everything from there....

KMSForLife

I LOVE online bill pay!

kelseyb8586

Hi,
In my opinion it's better to pay bills online through your bank. Make sure it is really free, some places do charge. I know your companies already have your info, but by paying through your bank, any new companies don't get your bank account info. Plus, it's a one stop shop that way. I pay all my bills that way too. The only thing to watch for is the delivery date of the payments. Some companies accept the electronic payments through the bank but for some, the bank has to cut a check and mail it. The nice thing is you can choose to pay each bill as often as you need, one time, monthly, etc. I pay mine one time each month, no guarantee there'll be enough money if an automatic payment came out each month. On occasion, you may still have to pay the companies directly if your payment will be late through the bank's bill payer. Bottom line, your money is much safer the less people that have your account info. I used to work at a credit union (the one I have always banked with) and I am a tough sell on anything. Also, if anything were to mess up or be late or something, all it should take is a call to your bank and they deal with the problem instead of you spending time on the phone with the company to fix the issue. Nice, right! Hope that wasn' t too much to read and was helpful.

carlylily

Wow, thank you guys! It's looking like I'm going to make the transition to online bill pay through my bank...and I think I'll look into opening an account at a credit union as well...

I appreciate all the replies!

nettie1969

Carly

Just allow an extra day or two before the payment is usually due. i don't know about over there but sometimes it can take a couple of days for the money to get through to the biller. but at the same time, even when you pay through the company it takes a couple of days for them to actually get the money from your account. Using a credit card with the company online is the only way to make sure that the money is 'there' the day that you pay it.

So it really comes down to how you manage your money. Personally, I use my bank for most of the reasons everyone has already stated.