I have just recently started online banking, and I love it so far! I have a checking account with Wachovia, and when I found out that online banking and bill pay were free I signed up.
With the rising cost of stamps paying bills online really does save me some money. I’ll take whatever I can save even if it’s a few dollars. So far I have paid my credit card bills online and my health insurance payment, and I plan to start using this service for more bills.
I had my check card and my checkbook in hand when I signed up. I had to create a username and password for my account, and then enter my information including my name and address, as well as my checking account number and debit card number and PIN.
My online banking account was active immediately, but I had to wait a few business days for the Bill Pay portion of online banking to be active. When it was, I found it very easy to use.
At the top of the page there is a tab called “Pay Bills, ” and after you click on it you can either select a previously-entered bill or you can create a new one. I was afraid I might not have all the information I needed to ensure that my payments got where they needed to be, but all the information it required could be found on my regular paper bill or statement. They asked for the name of the company, their address and phone number, and my account number.
With this bill pay I have the option to pay the bill immediately or earmark it for another date in the next week or two. You can also pay it once or set it up to be deducted each month (or whenever your payments are due) automatically.
I have always written a check for most of my bills and then worried if it might have gotten lost in the mail. It’s so hard to know when things will clear the bank, and no one wants a black mark on his or her credit report (or a late fee!) due to an error. Online bill pay has taken a bit of the guesswork out of when my checks might clear.
Most of us have a checking account at a bank that offers online banking. Many times it’s a free service. All of us have internet access, and I think you’ll really like online banking if you give it a try. There is no commitment or obligation, and I never realized how easy it was until I tried it.
Like so many things in our technological world today, I can't imagine how i lived without online bill pay!