Who Is Automated Bill Pay Right For?

Automatic bill pay may be right for older adults who:

• Frequently pay late fees. If you frequently end up with late fees because you forget to make payments or experience problems with the mail, automated bill pay can spare you the extra costs by sending payments on or before the due date.
• Want to pay off debt. You can easily set up automated bill pay to send extra money to credit card companies and other lenders each month to gradually reduce what you owe. Because automatic bill pay greatly reduces the risk of late payments, the service may also help improve your credit score.
• Have many bills to pay each month. Automating your bill payment can spare you the cost of postage and purchasing checks, which might help you save big if you mail out many payments each month.
• Are concerned about the environment. With automatic bill pay, you’ll reduce paper waste associated with checks and eliminate the need for monthly paper bills.
• Travel often. If frequent trips are a part of your lifestyle, automated bill pay will spare you the hassles of having to plan your monthly payments around your vacation dates.
• Have reliable internet and a device to connect. You can set up automated bill pay using a laptop or desktop computer or your mobile device. Residents of LifeStream at Sun City senior living community have the freedom to receive internet service in their apartments or can access our on-site computer center, as needed.

How to Set Up Automated Bill Pay

The process for how to set up automated bill pay will depend on whether you’re using a service provided by your bank or individual payees. Here’s an overview of the steps to take for each option.

With Your Bank

Automated bill pay services through banks allow you to manage all your bills in one place for added convenience. To set up this type of bill payment, follow these steps:

1. Compile a list of your payees. You’ll typically need the payee name, payment address, phone number and account number for each payee. This information is usually accessible on electronic or paper bills.
2. Enable bill pay, if needed. Some banks may require you to contact them to enable online access for your account. Others automatically provide it. Check with your bank’s customer service department or your local branch to learn more about enablement.
3. Access the service. If you’re accessing bill pay on a mobile device, you may need to download an app. On computers, you’ll typically type in a website address to connect to the bank bill pay site.
4. Register for an account. Select a username or enter your email. Choose a unique password for the service.
5. Enter payees. Follow the on-screen instructions to enter each of the payees on your list into the automated system.
6. Set up payments. Starting with the first payee, create a repeating payment. You’ll typically need to enter the amount of the payment and when you want to make the payment, such as once a month on the 15th or once every 2 weeks.

With Payees

If you only have one or two bills you want to pay automatically, signing up for automatic payment through the payees may be a quicker option.

Keep in mind that some companies don't offer automated bill pay services or require you to initiate automatic payments by phone. The customer service department for your payee can provide you with specific information about automating payments. Here’s a look at the general steps to set up bill pay through a payee online:

1. Access the service. Depending on the payee’s system, you may need to download an app or visit a website to get started.
2. Create an account. Create a username or enter your email and select a unique password.
3. Enter your account information. You’ll typically need to provide the routing and account number for your bank account. This information appears at the bottom of your checks. In most cases, the routing number is the first number and is nine digits long. The second number is usually your account number.
4. Set up the payment. Once you've entered your account information, provide the details for the recurring payment. You can usually select the amount, payment date and frequency of payments.

After You Set Up Automated Bill Pay

Once you have your bill pay set up, follow these tips to make the most of the service:

• Change your password(s) frequently. Select a new password every few months to protect your bill pay accounts.
• Monitor your bank account. Use online banking or call customer service to ensure your payments were made on time. If you keep a paper check register, enter the payments when they occur.
• Consider overdraft protection. Talk to your bank about connecting your savings account or a line of credit to your checking account in case an automated payment occurs when funds aren’t available.

Keep your information up to date. If your bank or payee information changes, remember to update your bill payment account to avoid delays.