Technology has changed the way people handle their finances, from viewing
their checking account balances in real time to applying for new loans online.
Online bill pay is another example of consumers harnessing the power of technology to
take control of their financial health. If you haven’t yet put online
bill pay to work for you, here are some of the benefits you could be missing out on.
Avoid Late Payments
Before online services, paying a bill meant writing a check and putting
it in the mail, hoping it would arrive on time. Forgetting about the bill
until the last minute or having a check get lost in the mail easily led
to late fees, interest rate increases, and dings to your credit score.
With online bill pay, you can skip trying to time your check arrivals
perfectly or worrying about lost items. Simply log into your account and
pay whatever needs to be paid, or set up recurring payments so you never
forget when a bill is due. Having the ability to always pay on time with
a minimum of fuss can save you money and save your credit score.
Make Money Management Convenient
Trips to the post office for stamps and the store for envelopes are just
the start of the inconvenience associated with paying bills the old-fashioned
way. Online bill pay lets you pay your bills from anywhere, including
your mobile phone. Because your account management is at your fingertips,
you can save a considerable amount of time and stress when you move to
online bill payment.
Get Improved Security
Online bill pay systems use stringent security measures to keep your information
safe. Paper bills represent an identity theft risk, as they can easily
be stolen from your mailbox or trashcan, putting your sensitive information
in the hands of the wrong people.
Online bill pay is just one of the services GCS Credit Union offers to
make financial management easier for the customers at our
credit union in O’Fallon. If you are interested in learning more about membership and our credit
union accounts, please call (618) 797-7933.