My mother asked me to drop something off in the mail yesterday. I noticed it was a payment for a department store account. Since I pay almost everything online, I tend to forget some people still sit down with their checkbook and statements to pay their bills. For people, like my mother, paying things electronically is just not within her comfort zone. I think more people would feel comfortable using this option if they were better educated on the topic.

Online Bill Pay or Electronic Payments

There are several options available to pay your bills electronically. You may prefer to set up an online bill payment schedule where each of your bills are automatically deducted from a specified account on a specific day each month. For people who wish to have flexibility another option is to manually post a payment to your account via the website of the payee. Some things to consider if you choose to go electronic are:

• Save time and money - Schedule your payments in advance. Once you have your accounts set up and a schedule established it takes only seconds for your bills to be paid. You will save the time and expense of writing out a check, buying envelopes and postage to use for the mail.
• Payment history - Compiled when you pay bills electronically. If you need to view a statement or track your payments, you simply point and click to have the ability to view this information.
• Track spending - Many accounts offer features that break down how you are spending your money, which helps you by identifying areas where you may be able to cut back on needless spending.
• Secure payments - Sometimes more so than writing and sending a paper check. Technology has come a long way and while security is always a concern regardless of how you choose to pay; in most cases you are quite safe with online bill payments.
• Good for the environment - In an age where everyone is going green or at least trying to be more environmentally friendly, you can be involved by simply opting for paperless statements sent to your email address. This reduces the amount of paper coming into your home and subsequently into a landfill at some time in the future.

Do Not Forget

Read the fine print and the terms of agreement as it relates to your payment posting. Each account will likely have different terms as to when a payment posts to the account or when you can schedule a payment for free. If you want to avoid fees for a late payment or an express payment it is important to understand these terms.

Some people who are less tech-savvy may never convert to paying bills electronically, moreover most people born after 1982 will likely avoid check writing as a form or payment. While there are many benefits to consider if you are going the route of un-traditional banking; the most important thing is your level of comfort in your system and that your payments are made on time.