Not everyone is in love with the modern electronic society that we live in, but no one can deny that it has created many practical advantages. One of the simplest and most useful of these is using your online checking account to manage your daily finances. By taking advantage of the many available options such as automated payments and payment history tracking, it is now easier than ever to control your budget and streamline the cumbersome chore of paying the monthly bills.
It is no longer necessary to write checks or to buy stamps for every bill. In fact, payments that originate from the same bank where you have your checking account, such as credit cards, mortgages and the like, can be paid simply by transferring funds from one account to another. The online checking account includes many features that can be used to set up a regular schedule of automated payments for each of your monthly bills and to tailor each account individually for the most effective way to monitor payments and payment history. Today, all banks offer online checking account services. The specifics vary little from one bank to another and the basic tools and procedures are essentially the same.
Setting up an online checking account takes a couple of minutes. The first step is to enter the pertinent payment information for each account. This includes the name, billing address, telephone number and account number; thatâ€™s it. The set-up process is simple and the directions easy to follow. It is not necessary that an account you want to include be payable on a regular basis. Even bills that you pay occasionally or that remain dormant for extended periods can be added to your payee list. You can have as many as you want.
You will want to use the online checking account to make automated payments. This works well for bills that are always due on the same day and for the same amount, like a car payment for example. You select the date and on that day every month the payment is made. You do not have to do anything including remember that itâ€™s time to make a payment. Whether the accounts on your payee list are paid automatically or only when you decide to pay, a record of every payment is made and stored in the payment history for that account. It is possible to access a complete history of payment dates and amounts by pressing a button. This makes record keeping simple and accurate and helps to resolve any dispute quickly.
Automated payments from your online checking account will make managing your finances easier, faster and more accurate.