Are any of you out there still buying stamps, writing a check, and mailing your bills? I must say that I hadn't purchased a stamp for quite a while until I joined my coupon train. I love doing things electronically - plus it saves money!
There are SEVERAL different ways to pay electronically:
Autopay - This is when you still may receive a bill, but it is pulled out of your account automatically each month on the due date. You do not initiate this type of payment. You make one authorization and they continue to pull your payment out each month until YOU cancel. Many companies offer this - cable, insurance, phone, gas, electric, etc. Check out your billing statement or their website for details.
Pay Online - This can be used for those who would like to initiate their own payments. You control when it is paid and pulled out of your account. You go to the company website and make the authorization each time you want to make a payment. Again, many companies offer this, check out their websites!
BillPay - This is a service that is probably offerred by your bank or credit union. I LOVE using BillPay because I can pay anyone with this service, even if they don't accept electronic payments. You can either initiate the payments or set up autopay (you can control all of this through your bank or credit union website). The best part is if the company or individual you want to pay does not accept electronic payments, the BillPay provider will mail a check. It depends on the bank or credit union whether or not you pay for this service. My credit union offers standard BillPay for FREE or an upgraded version for $2.00 per month. At $.42 per stamp, this is a good value!
If you are still writing checks and using stamps to pay your bills...STOP! You will save money (and a few trees!) by paying electronically.
For more Frugal Friday ideas, check out Life as Mom!