Written by Sarah Provost
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Using Epayments, that is, paying your bills electronically, is not only a great convenience but can also result in significant savings. With Epayments, you can set up automatic payments for bills that come due regularly. That means you'll never have to pay a late fee again.

Setting up Epayments

Basically, when you use Epayments, you receive your bills electronically via e-mail and pay them by electronic withdrawals from your bank account. There are two ways to accomplish this. You can use each creditor's website and pay each bill separately, or you can set up a bill-paying service which bundles them all together in one place.

If you use the service, you enter each creditor, which can be utilities, banks, credit card companies, or even individuals. Then you enter the information for the bank account you will use to pay the bills. You can set it up so that you pay each bill individually, or you can schedule recurring payments for rent, mortgage, and other debits which require the same amount each month.

The service will send you reminders when bills are due, and will keep all records in one easy-to-use payment history. Some will even develop charts and graphs to show the categories in which you are spending your money. This can also be a great help at tax time, since you can just print out the record of tax-deductible expenses rather than having to go through a pile of receipts. Some of these bill-paying services are free, and some charge a nominal fee. The convenience and accuracy of records makes it well worth using Epayments.

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