Question : Is automatic bill pay a good way to pay your monthly bills?
Actually, I am asking for my sister who is just starting out. I have never and will never pay bills this way because I am stuck in my ways. However, my sister is scatter brained. Is it a good idea for somebody like her to have the bank pay bills automacially each month?
- asked by grannywinkie
All Answers:
Answer #1
Yes. She will not have to look for a mail box, payfor postage, or worry about missing a payment.
- answered by evoldfield
Answer #2
if ur just starting out, it may not be such a goodidea...u'll have better control over ur funds ifpayments are manual rather than autopay..
- answered by Navster
Answer #3
if she can be sure she has got the money in thebank.. or.. if she works and got direct deposit..and on the day of deposits bills r paid out..could be helpful for her to do bill pay..
- answered by nawtee girl
Answer #4
It's good if your sister is forgetful or just lazyto bust out a check. It can be bad, though,because if you don't have enough funds in yourchecking account, it can cause problems. If shecan budget her money well, then it's worth thetime to use an auto plan.
- answered by lickthisup69
Answer #5
dont avise this to anybody,lot of people hasalready burnt their fingers.
- answered by ramesh vishvas
Answer #6
im like you id rather go pay in cash so i can seeexactly whats goin on and that the exact amount isgiven no more. so personally no i dont think so.but its a trust thing i guess
- answered by westoz
Answer #7
depend if your bill is steady like internet billthen it is steady how ever if it like PGE or phoneit can mix it up pretty bad
- answered by nk_rso
Answer #8
this may lead to additional bills if there is nosufficent balance in your accout,betterr paymanualy.
- answered by seaair24
Answer #9
There are two ways to look at this - the first isthat a fixed amount is taken every month (repayment of a loan for example ) and the other ispayment for services, such as cellular etc. Forthe former I prefer ECS and the latter I wouldrather make the payment only on receipt of thebill as I have found to my dismay a lot of moneyhas gone off as I never read my bills in detailand even if I did - the bank would have alreadyreleased the money before the bill actually cameto me.
- answered by caprichoso
Answer #10
i think if she is just starting out then you willget over excited and spend all your money. but ifshe has a steady income then it would be a goodidea because she wont have to worry about payingthat bill every month.
- answered by hank g
Answer #11
Hi, Auto billl pay advantages:1. Hassle-free.Don't have to think about paying before due dateand fines etc. This way you also save money youwould have spent for fines.2. ConvenientDisadvantages:1. You eventually stopkeeping track of how much money is being takenaway every month. That way if you lose money ifthere is overbilling.Remedies:1. Subsrcribe toauto bill pay, but insist that they send you apaper statement every month detailing the itemizedexpenses.2. Make sure you will read the bills foraccuracy before shredding them.3. Do notsubscribe to this feature from non-reputabledealers. In such cases, have a Yahoo! Calendarremind you every month you are supposed to pay thebill, and pay it manually.
- answered by Sudhir
Answer #12
Granny not only do I recommend automatic bill pay,I use it for everything that I can, I alsorecommend that she go to her local utilitycompanies and see if they have a level bill payprogram available. She may not qualify for thisuntil after she has had utilities in her name fora year or more but it is nice to know exactly howmuch money is being taken out of your accountevery month for gas, electric, etc. I like theautomatic bill pay because I travel extensivelyand may or may not be home for weeks at a time.Don't want to come home and find the electricityoff because of non-payment.
- answered by tnroadwarrior
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