How To Set Up Automatic Bill Payments
Automatic bill payments can save you the time and cost of buying stamps
and writing checks. For families and businesses with a lot of bills, this is really
a great idea. There are a couple of options for automatic
bill payments:
- Have payments automatically
withdrawn from your bank account or charged to a credit card. This
option works best with regular payments such as utility bills. It's
usually a free service, commonly available from utilities, health clubs,
cable television and insurance companies. However, it's not yet universally available, so you'll still have to write a lot of checks. And you'll
need to contact each
company that bills you, to see if they can arrange this type of automatic
billing. Each company is legally required to notify you of the
amount before they bill you, so you don't have to worry about being
overcharged. If you ever change your bank account, you'll need to make
new arrangements for automatic bill payment.
- Some Internet companies will let you handle almost all of your bills
through a simple point-and-click interface. Any bills that you want
them to handle will be mailed to the company and scanned into
their computer system. You'll receive an Email notice when bills
arrive, and you can review and/or authorize payment online.
One service that will handle this for you is
Paytrust.com. Forbes.com
recently rated PayMyBills.com as the best payment service; since then, this
company has merged with Paytrust.com. They charge $4.95 plus $0.50 per
transaction, or $12.95 per
month plus $.50 per monthly payment after the first 30. I have never heard
of a security breach at this company. Such a breach
is a very remote possibility, and Paytrust.com guarantees that each electronic
transaction you make will be 100% safe. Paytrust will give you a refund
after your first three months, if you are dissatisfied for any reason.
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How To Set Up Automatic Bill Payments 
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Time to complete:
| 1-2 hours to set it up |
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Money you'll spend:
| $12.95 per month |
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What you'll get:
| Time savings from paying all those bills |
Step-by-step instructions:
- Click here:
Paytrust.com A new window will open with this page.
- Follow the online instructions.
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Further Reading:
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