Skip to main content
Online Banking

Get Answers

Automatic Bill Pay: What Level is Right for You? It's simple and convenient to pay bills online, and automation can make it even easier. Find out if automatic bill pay is right for you. Online bill pay: What can it do for you? Automatic payments for online bills are quick and convenient. Monitoring your cash flow and keeping an eye on your balance is always a good idea - and automatic bill pay is a plus for many because it lets you either pay on the spot or set it up so you don't have to remember anything. And you never need a stamp. Thinking about trying online bill pay? You can choose from varying degrees of automatic payments based on your needs and preferences. Here's a look at the pros and cons of different automatic payment approaches. Automatically pay fixed monthly expenses
  • Pros
    • Convenience. When you automatically pay fixed monthly bills, you avoid purchasing stamps and taking the time to mail payments or tracking due dates to make sure you pay each one on time every month.
    • Payments that don't fluctuate - such as rent, mortgage and a car loan - are prime candidates for automatic-payment.
    • Peace of mind. With automatic-payment your bills get paid on time, so you don't worry about forgetting a payment, being charged a late fee or potentially damaging your credit.
  • Con
    • Potential to forget the amount of expenditures. From a budgeting standpoint, it's good to know how much you pay in bills.

Automatically pay some bills, one-time online-pay others

  • Pros
    • A balance of convenience and awareness. Automatically paying some bills frees you up from paying those fixed expenses and keeps you abreast of variable monthly expenses. Payments that fluctuate - such as utilities and credit cards - are good candidates for one-time online bill payments that you authorize each month.
    • A smaller bill-paying burden. Automatically paying some bills allows you to personally focus on just a couple. You have peace of mind that the others are paid automatically
  • Con
    • Automatically paying only some bills requires you to remember which bills you must review and to designate the amount to be paid. And if you overlook a recurring one-time payment - perhaps because you're away on vacation, you become ill or simply forget - you may face a late payment charge and possibly damage your credit history.

Make all payments manually

  • Pros
    • Keeps you on top of your spending. Manually paying your bills each month gives you an opportunity to review your account balances and see where your money goes. If you have an irregular income, monitoring your account balances closely and scheduling the payments accordingly helps to avoid overdrawing your account.
  • Con
    • Less convenience. Manually paying bills each month means you have to spend time tracking each bill's amount and due date.
    • Increased potential for late payments. Paying manually heightens the possibility of late payments, which could lead to penalties and harm your credit rating. If you pay all your bills manually, make sure to stay on top of each one's due date.
Automatic payments can free up your time for other things or simply give you a few less tasks to remember. Find a way to put this service to work for you, to the degree that best suits you. Go to "Online Bill Pay & Money Transfers" to get started.
Bank of America pay bills online, pay bill online, automatic bill pay, automatic bill payment

Online bill pay: What can it do for you?

Business man on bike setting up automatic bill pay on his mobile phone

Save time when you set up and pay your bills online automatically

Automatic payments for online bills are quick and convenient. Monitoring your cash flow and keeping an eye on your balance is always a good idea—and automatic bill pay is a plus for many because it lets you either pay quickly or set it up so you don’t have to remember anything. And you never need a stamp.

Thinking about trying online bill pay? You can choose from varying degrees of automatic payments based on your needs and preferences.

Here's a look at the pros and cons of different automatic payment approaches.

Automatically pay fixed monthly expenses

  • Pros
    • Convenience. When you automatically pay fixed monthly bills, you avoid purchasing stamps and taking the time to mail payments or tracking due dates to make sure you pay each one on time every month.
    • Payments that don’t fluctuate—such as rent, mortgage and a car loan—are prime candidates for automatic-payment.
    • Peace of mind. With automatic-payment your bills get paid on time, so you don’t worry about forgetting a payment, being charged a late fee or potentially damaging your credit.
  • Con
    • Potential to forget the amount of expenditures. From a budgeting standpoint, it's good to know how much you pay in bills.

Automatically pay some bills, one-time online-pay others

  • Pros
    • A balance of convenience and awareness. Automatically paying some bills frees you up from paying those fixed expenses and keeps you abreast of variable monthly expenses. Payments that fluctuate—such as utilities and credit cards—are good candidates for one-time online bill payments that you authorize each month.
    • A smaller bill-paying burden. Automatically paying some bills allows you to personally focus on just a couple. You have peace of mind that the others are paid automatically
  • Con
    • Automatically paying only some bills requires you to remember which bills you must review and to designate the amount to be paid. And if you overlook a recurring one-time payment—perhaps because you’re away on vacation, you become ill or simply forget—you may face a late payment charge and possibly damage your credit history.

Make all payments manually

  • Pros
    • Keeps you on top of your spending. Manually paying your bills each month gives you an opportunity to review your account balances and see where your money goes. If you have an irregular income, monitoring your account balances closely and scheduling the payments accordingly helps to avoid overdrawing your account.
  • Con
    • Less convenience. Manually paying bills each month means you have to spend time tracking each bill’s amount and due date.
    • Increased potential for late payments. Paying manually heightens the possibility of late payments, which could lead to penalties and harm your credit rating. If you pay all your bills manually, make sure to stay on top of each one’s due date.

Automatic payments can free up your time for other things or simply give you a few less tasks to remember. Find a way to put this service to work for you, to the degree that best suits you. Go to Online Bill Pay & Money Transfers to get started.