February 2019
Online Bill Pay is a service provided by many banks as a part of Online Banking. Online Bill Pay can be used to pay nearly any bill, and the bank sends payments either electronically or by check using funds from your account. If you're not using the Online Bill Pay service you're missing out on many benefits, including saving time, saving money, decreasing clutter, and improving your financial management.
Saving Time
Setting up a payment through Online Bill Pay is quick and easy. You can usually search for a biller and simply add a payment for them. Many people visit numerous websites with separate logins to pay all of their bills, but with Online Bill Pay you can save that time by paying all of your bills from one website. If you're in the habit of paying bills by mail, you can also eliminate the time it takes to prepare and mail checks.
Saving Money
You can also save money with Online Bill Pay by eliminating the checks and stamps associated with traditional bill payments. Plus, Online Bill Pay is free^ for Advantage Plus and Value Club Checking customers. For other checking account customers there are no monthly fees or per transaction fees if the account is set up for Paperless Statements. (If the account is not set up for Paperless Statements, there is a monthly fee of $5.95).
Decreasing Clutter
Many companies offer electronic bills through Online Bill Pay. These bills can replace traditional paper ones. You can decrease the amount of mail you receive and paper that you have to handle by switching to electronic billing. You'll receive a notification when your electronic bill arrives so that you can review it and take action if needed.
Improving Your Financial Management
Online Bill Pay also puts you in control of your finances. You decide when your money leaves your account and you can set up recurring payments giving you the peace of mind that your bills will be paid on time. Payment amounts can be changed and payments can be cancelled before they are sent. Furthermore, because Online Bill Pay is integrated with Online Banking, you can get a clearer picture of your finances when you pay your bills through Online Bill Pay. All of these features translate into better management of your finances.
Sign up for Online Bill Pay today to save time and money, decrease clutter, and improve your financial management.
For current VaultLink Online Banking users, Online Bill Pay sign up is easy! Simply log into your VaultLink Online account, select Bill Payment and follow the instructions. You will be instantly enrolled in Online Bill Pay. If you aren’t already using VaultLink Online Banking, click here to enroll.
^For Advantage Plus, Value Club and other accounts with Paperless statements, there is an inactivity fee of $3.00 per month after 60 days with no Bill Pay transactions.
^For Advantage Plus, Value Club and other accounts with Paperless statements, there is an inactivity fee of $3.00 per month after 60 days with no Bill Pay transactions.