3 Amazing Benefits Of Online Bill Pay

Posted on: 18 March 2019


Do have multiple bills that you need to keep track of each month? If you do, there is a good chance that each of these bills is due on a different date. This can make it frustrating and time-consuming to pay your bills every month. If you are tired of the hassle, you may want to take advantage of a service called online bill pay that is currently being offered by a majority of financial institutions.

Here are three amazing benefits of online bill pay.

1. It Reduces Paper Waste

Did you know that 13,000 pieces of paper get thrown away each year by the average household? According to another statistic, the amount of paper that gets thrown away every year in the United States is the equivalent of one billion trees.

If you want to do your part to reduce the amount of paper that gets wasted each year in this country, signing up for online bill pay is one way you can do your part. By doing so, each company you receive a bill from will not have to send you a paper copy in the mail, thereby saving paper.

2. It Helps Bills Get Paid on Time

If you pay your bills late, it can have a negative effect on your credit score. For example, if the bill is 30 days overdue, it can cause your credit score to drop by up to 110 points. This is true even if it's the first time you have ever missed a payment.

With online bill pay, you can set it up so that your bills all get paid on the same date every month, which means they will never be late again.

3. It Helps You Stay Organized

If you have a utility bill, cable bill, car loan payment, and other types of monthly bills, it can be a hassle to keep track of them all. Online bill pay makes it possible for you to consolidate all your bills in one place, making easy to keep track of them.

Not only is this really convenient, it helps you stay more organized. All of these factors will end up saving you lots of time, as it takes just mere minutes to pay all of your bills. This means you'll be able to focus on other important things throughout the month.

By reducing paper waste, helping you pay your bills on time, and keeping you more organized, paying your monthly bills with online bill pay will no longer be the headache it once was.