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Step 1
** Make a list of your onilne bill payment needs **
Before you can find the best online bill payment method, you must determine which functionality you need.
Before choosing a service, determine the following:
- Which bank account(s) or credit card(s) you plan on using to pay the online bills
- Which bills you plan on paying through the online bill payment service
- How often each bill needs to be pay and whether the bills are recurring
- Any other requirements you have regarding paying your bills online -
Step 2
** Check into using your bank's online bill pay system **
If your bank has online bill paying functionality (which most do), there is a good chance that this is the best online bill pay system for you. Since you are already using the bank, you do not have to set up all your details with a new service. Most banks allow you to pay many types of bills online and some even allow you to manage multiple bank accounts within the same bill paying system. Most banks offer online billing for free, which makes this service even more beneficial to you. -
Step 3
** Find an online bill pay system that is easy for you to use **
You will want to find an online billing payment system that is easy enough for you to use without having to spend a long time getting used to and figuring out each step of the way. What is considered easy depends on your level of computer literacy and familiarity with similar software programs. It is best to see a demo or get a free trial offer of the system so you can see how easy it will be to use before paying for it. -
Step 4
** Find out if there are restrictions on types of bank accounts or credit cards you can use **
Before signing up for an online bill paying service, you will want to make sure your bank account or credit card can be used with their system. If you have an account at a major bank this should not be a problem, but it is best to check it out and make sure. -
Step 5
** Find a bill payment system that that services the bills you need to pay **
Are you looking to pay bills that are normally paid by check or are you just paying bills of companies who are set up for online bill payment?
Are you looking to pay bills to small unknown companies or only well-known businesses?
If you want to pay bills to anyone or if you want to pay bills to companies who are not necessarily set up for online payment, then the best online bill payment system for you would have to accommodate these needs. -
Step 6
** Check out the online billing system's reporting functionalities **
You will want to check out what types of reports you can view. It is important to have clear reporting both of bills that are coming up and of bills you have paid. -
Step 7
** Find a system that makes it easy to pay monthly bills **
If you want to pay ongoing bills, you will want to make sure the system you use makes this functionality easy. Find out if payments can be made automatically. -
Step 8
** Look into the total cost of using the online billing system **
Before signing up, find out how much the online billing payment service really costs. There might be a monthly cost of only a few dollars, but there might be additional fees - possibly for technical support or for additional payments. If cost is important to your finding the best online bill payment system, then be sure to evaluate the full expense of each system carefully. -
Step 9
** Consider a full accounting software package **
If you want to integrate all your money management together, then the best online bill pay service for you would be an accounting software package that integrates bill paying together with household accounting. An accounting software package would allow you to manage your finances, bills, expenses and budget all in one.
Comments
skyedanzer said
on 6/2/2009 I'm sending this to a few of my friends. Very helpful!