![]() You give your account information for each creditor to your bank, and the bank automatically pays the bills each month from an account you designate. The first option, online bill pay, is set up through your bank. You have two options with automatic/recurring payments from your bank account: online bill pay and automated debit transactions. How Automatic Bill Payments Work Automatic Bill Payments Through Your Bank In this article, we’ll look at how automatic bill paying works and discuss what Clark does (and does not) want you to do when you set up your payment system. Money expert Clark Howard loves the convenience of automatic payments but has one big warning about them. You don’t risk forgetting to make the payments. ![]() You don’t have to visit several websites to get everything paid.You don’t have to remember every bill and due date.Here are the main reasons a lot of people take advantage of automatic bill pay: No one really likes paying bills, so the idea of automating the process can be very appealing.Īutomatic bill pay lets you set up recurring transfers or payments from your bank or credit card to pay your bills - phone, tuition, cable, utilities, mortgage or any other payments you owe on a regular basis - on a timeline you designate. ![]()
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