The first option, online bill pay, is set up through your bank.
You give your bank the information for the account you have with the payee (your cell phone carrier, for example) and the bank automatically pays them what is due each month from your checking or savings account.
How do I stop an automatic payment?
If you decide you want to stop automatic debit payments from your account:
- Step 1: Call and write the company.
- Step 2: Call and write your bank or credit union.
- Step 3: Give your bank a “stop payment order”
- Step 4: Monitor your accounts.
How do you automate a bill payment?
How To Automate Your Finances In 5 Easy Steps
- Step 1: Open The Appropriate Accounts For Your Automated System.
- Step 2: Pay Yourself First.
- Step 3: Set Up Payments For Your Bills And Expenses.
- Step 4: Automate Your Contributions To Your Investment Accounts.
- Step 5: Increase Your Automated Transfers Over Time.
What is the best way to pay bills online?
Method 1 Paying Bills Through Your Bank’s Website
- Determine if your bank offers online bill pay services. Many banks, both large and small, offer online bill pay services.
- Check out bank alternatives.
- Find out if there is a fee.
- Register for an online account.
- Add a payee.
- Make a payment.
- Try your bank’s mobile app.
Is automatic bill pay a good idea?
There’s no question but that automatic bill pay can make your financial life simpler. However, there are times when it might not make good sense. For example, it’s never a good idea to set up auto pay for temporary services or memberships.