1. It's convenient
When you make online payments through your bank, you can pay all of your bills from a central location rather than logging into multiple websites. And you avoid the hassle of paper bills, checks, stamps and mailing. You can even schedule some bills to be paid as soon as the next business day.
Whether you receive bills by mail or electronically (known as eBills at Bank of America), you can go into your online banking account at any time and choose the day you want the bill to be paid. Your bank will take it from there and pay those companies electronically or mail them a check.
2. It's secure
Bank of America uses several methods to help keep your online payment information safe, including:
- A unique Online ID and Passcode
- A secure layer that helps protect your connection from outside inspection
- Encryption that makes your information unreadable while in transit
- Automatic sign-off if your banking session stays open without any activity for too long
And then there’s the peace of mind that comes with Bank of America’s Online Banking Security GuaranteeFootnote 1, which helps protect against fraudulent transactions. For even more security, you can use a one-time SafePass code for Bill Pay and transfers.
3. It makes managing your money easier
When you use your bank's bill pay, you can easily check your account balance and see at a glance which payments are scheduled and which have been paid. You can also:
- Control, track and review your payments
- Search for specific online payments
- Sort your online payment history
- Set up email alerts to let you know when to make a payment or when an online bill payment has begun processing
4. It saves you time
Once you've set up your bill payment service online or on your mobile device, it only takes a few seconds to pay your monthly bills. Simply select the payee(s), enter the dollar amount, choose a delivery date and you’re done. And if you don't want to have to sign in every time you get a bill, most services allow you to set up automatic recurring payments. Select your payment amount and monthly delivery date once and then forget about it.
So whether you want to keep your online payments basic and simply make a payment whenever you're ready to, or you want to clear some things off your to-do list and have bills paid automatically, online bill payment makes paying bills a breeze.
Get started with Bill Pay today