Make Bill-Paying Almost Painless
Setting up automated payments can save you time and money.
Paying bills will never really be fun. But making payments electronically makes it easier. It cuts down on clutter, gives you an electronic history of your payments, and saves you from buying stamps.
Bill-paying through your bank is a handy way to manage all of your bills in one place. (It’s often free, but Wells Fargo, for example, charges $3 per month if you don’t meet certain criteria.) Just sign up through your bank’s Web site and list regular payees. Even if a payee doesn’t accept e-payments, the bank will send a paper check. You may have a choice of making one-time payments or automatic recurring payments on the dates and in the amounts you choose. Check whether you can set up notifications of available e-bills and upcoming due dates, or when funds in your checking account are low. Some banks also let you pay bills through their mobile apps.
Or, you could sign up with each payee to make e-payments. Unless you set up automatic deductions, you’ll have to visit several Web sites to pay your bills. But you may have more flexibility in how you pay. For example, your bank may require you to debit your checking or savings account, but the payee’s site may give you the option of using a credit card. If you use this a la carte approach, link your accounts to a tool such as Manilla.com.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Paying bills online doesn’t mean you can set it and forget it. Review your statements for errors or suspicious activity, and see whether due dates have changed. Don’t forget to keep an eye on your bank-account balance. If an account from which you make automatic payments changes -- for example, you lose a credit card and have to get a new number -- you’ll have to update all of the services you pay.
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
Lisa has been the editor of Kiplinger Personal Finance since June 2023. Previously, she spent more than a decade reporting and writing for the magazine on a variety of topics, including credit, banking and retirement. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school’s “Graduate of the Last Decade” award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons.
-
Stock Market Today: Stocks Run Out of Steam Ahead of Meta Earnings
The Dow Jones Industrial Average snapped a four-day winning streak after Boeing's first-quarter results.
By Karee Venema Published
-
One-Third of Parents Are Paying An Adult Child's House Down Payment? Are You?
As housing costs soar, Gen Z and Millennial home buyers are turning to family for help with down payments.
By Kathryn Pomroy Published
-
403(b) Contribution Limits for 2024
retirement plans Teachers and nonprofit workers can contribute more to a 403(b) retirement plan in 2024 than they could in 2023.
By Jackie Stewart Published
-
Roth IRA Contribution Limits for 2024
Roth IRAs Roth IRA contribution limits have gone up for 2024. Here's what you need to know.
By Jackie Stewart Published
-
Four Tips for Renting Out Your Home on Airbnb
real estate Here's what you should know before listing your home on Airbnb.
By Miriam Cross Published
-
Five Ways to a Cheap Last-Minute Vacation
Travel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
By Vaishali Varu Last updated
-
How Much Life Insurance Do You Need?
insurance Instead of relying on rules of thumb, you’re better off taking a systematic approach to figuring your life-insurance needs.
By Kimberly Lankford Published
-
When Is Amazon Prime Day?
Amazon Prime In 2023 Amazon had two Prime Day events — one in July and another, called Big Deal Days, in October. We expect 2024 to follow the same schedule.
By Bob Niedt Last updated
-
How to Shop for Life Insurance in 3 Easy Steps
insurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
By Kaitlin Pitsker Published
-
5 Ways to Shop for a Low Mortgage Rate
Becoming a Homeowner Rates are high this year, but you can still find an affordable loan.
By Daniel Bortz Published