How automatic bill pay saves time and money

February 18, 2021

Setting up automatic payments for your monthly bills can benefit you in unexpected ways.

 

Online banking is a popular and secure way to review your accounts, track spending and stick to a budget. Your bank’s online resources may be able to provide you with an array of personal financial management tools. Even more, if you take the extra step to connect your accounts to pay your bills automatically on predetermined dates, you can save time and money and enjoy other conveniences.

Here are several reasons why automatic bill payments may be right for you.

 

What is automatic bill pay?

Automatic bill pay can pay all of your monthly recurring expenses electronically directly through your bank account. When you log into your bank account online, simply opt into your bank’s bill pay program and input information about each biller, such as the company name, mailing address and phone number.

You can choose which bills to pay automatically, and you can pick the same date each month for the transactions to be completed. You may even have the option to receive an email or text alert before a payment is due or after the transaction has been completed.

 

How can automatic bill pay help you with saving money?

Making payments online through automatic bill pay can save you more than just time. Online payments are often incentivized — some companies may offer a discount or reduced fee if you opt for online bill pay. You can also save money by not having to purchase as many checks, stamps and envelopes. Plus, when your bills are paid automatically, you never have to worry about incurring late fees if you forget.

 

What are other benefits of online bill pay?

Some primary reasons to consider automatic bill pay include security and reduced costs. However, there are additional perks as well. Online bill pay:

  • Might give you peace of mind since you know exactly when upcoming withdrawals will be made from your account.
  • Can help to reduce stress when you’re traveling and need bills to be taken care of in your absence.
  • Results in fewer checks, envelopes and paperwork, which may mean a neater and less cluttered home office.
  • Could help protect you by reducing the number of checks written, websites logged onto and missed paper statements in the mail, which may reduce your risk of identity theft.
  • Can be edited, allowing you to confirm amounts due or make adjustments as necessary.
  • May include better encryption than vendor online payment websites.

 

Continue reading to learn more about the benefits and convenience of online bill pay.

Learn about our Mobile and Online Banking options with Digital Explorer, a quick and easy way to help you understand all you can do digitally at U.S. Bank.

Related content

5 tips for creating (and sticking to) a holiday budget

Should you buy now, pay later?

What I learned from my mom about money

Your 4-step guide to financial planning

What to do when you lose your job

4 financial considerations before changing jobs

Key components of a financial plan

6 common money mistakes to avoid

Stay on budget — and on the go — with a mobile banking app

How to choose the right business checking account

Financial checklist: Preparing for military deployment

U.S. Bank asks: Transitioning out of college life? What’s next?

How to financially prepare for a military PCS

A who’s who at your local bank

For today's homebuyers, time and money are everything

Here’s how to create a budget for yourself

How to use debt to build wealth

Transitioning from the military to the civilian workforce

Housing market trends and relocation impact

High-cost housing and down payment options in relocation

For today's relocating home buyers, time and money are everything

Crypto + Relo: Mobility industry impacts

How I did it: Deciding whether to buy an RV

How to decide when to shop local and when to shop online

Checklist: financial recovery after a natural disaster

What financial advice would you give your younger self?

How I kicked my online shopping habit and got my spending under control

How to manage your money when you're self-employed

Dear Money Mentor: When should I refinance a mortgage?

How I did it: Bought a home without a 20 percent down payment

Starting your homebuying journey: Tips from a U.S. Bank Goals Coach

Working with an accountability partner can help you reach your goals

House Hacks: How buying an investment property worked as my first home

The lowdown on 6 myths about buying a home

Growing your savings by going on a ‘money hunt’

Multiple accounts can make it easier to follow a monthly budget

You can take these 18 budgeting tips straight to the bank

Certificates of deposit: How they work to grow your money

9 simple ways to save

Financial gifts can be a valuable – and fun – choice for the holidays

How I did it: Learned to budget as a single mom

What is an escrow account? Do I have one?

Money Moments: Tips for selling your home

Which is better: Combining bank accounts before marriage — or after?

What are conforming loan limits and why are they increasing

Don’t underestimate the importance of balancing your checking account

Do you and your fiancé have compatible financial goals?

Is it time to get a shared bank account with your partner?

Overdrafts happen: Steps to get you back on track

Should you get a home equity loan or a home equity line of credit?

Quiz: How prepared are you to buy a home?

How to track your spending patterns

How to manage your money: 6 steps to take

Webinar: Mobile banking tips for smarter and safer online banking

Checklist: 10 questions to ask your home inspector

5 things to avoid that can devalue your home

Webinar: Common budget mistakes (and how to avoid them)

5 things to consider when deciding to take an unplanned trip

30-day adulting challenge: Financial wellness tasks to complete in a month

7 steps: How couples and single parents can prepare for child care costs

Adulting 101: How to make a budget plan

Allowance basics for parents and kids

Dear Money Mentor: How do I set and track financial goals?

Finding a side gig to fund your goals

Helpful tips for safe and smart charitable giving

What you need to know about renting

Tips for working in the gig economy

How can I help my student manage money?

6 pandemic money habits keep for long term

How to best handle unexpected expenses

How to manage money in the military: A veteran weighs in

How to save for a wedding

How to save money while helping the environment

It's possible: 7 tips for breaking the spending cycle

Personal finance for teens can empower your child

Save time and money with automatic bill pay

The mobile app to download before summer vacation

Webinar: Uncover the cost: Wedding

What military service taught me about money management

How to increase your savings

U.S. Bank asks: Do you know what an overdraft is?

U.S. Bank asks: Do you know your finances?

P2P payments make it easier to split the tab

Practical money tips we've learned from our dads

3 awkward situations Zelle can help avoid

What’s in your emergency fund?

Tips to raise financially healthy kids at every age

Money management guide to financial independence

How I did it: Bought my dream home using equity

Buying a home Q&A: What made three homeowners fall in love with their new home

How I did it: Built living spaces to support my family

Spring cleaning checklist for your home: 5 budget-boosting tasks

Saving for a down payment: Where should I keep my money?

Your guide to breaking the rental cycle

Checklist: 6 to-dos for after a move

Webinar: Uncover the cost: Building a home

4 ways to free up your budget (and your life) with a smaller home

Get more home for your money with these tips

Money Moments: How to finance a home addition

How I did it: My house remodel

Are professional movers worth the cost?

Building a dream home that fits your life

10 questions to ask when hiring a contractor

Is it the right time to refinance your mortgage?

10 ways to increase your home’s curb appeal

What is a home equity line of credit (HELOC) and what can it be used for?

Webinar: Uncover the cost: Home renovation

Is a home equity line of credit (HELOC) right for you?

10 uses for a home equity loan

Preparing for homeownership: A guide for LGBTQ+ homebuyers

Beyond the mortgage: Other costs for homeowners

How to use your home equity to finance home improvements

What to know when buying a home with your significant other

Webinar: Mortgage basics: How much house can you afford?

Webinar: Mortgage basics: Buying or renting – What’s right for you?

Webinar: Mortgage basics: What is refinancing, and is it right for you?

Webinar: Mortgage basics: Prequalification or pre-approval – What do I need?

Webinar: Mortgage basics: How does your credit score impact the homebuying experience?

Webinar: Mortgage basics: Finding the right home loan for you

Webinar: Mortgage basics: 3 Key steps in the homebuying process

8 steps to take before you buy a home

These small home improvement projects offer big returns on investment

What is refinancing a mortgage?

How do I prequalify for a mortgage?

6 questions to ask before buying a new home

Home equity: Small ways to improve the value of your home

How to Adult: 5 ways to track your spending

Family planning for the LGBTQ+ community

11 essential things to do before baby comes

Webinar: Uncover the cost: Starting a family

Preparing for adoption and IVF

Closing on a house checklist for buyers

How to prepare for a natural disaster

College budgeting: When to save and splurge

Webinar: Uncover the cost: College diploma

How to save money in college: easy ways to spend less

Checklist: How to gain financial independence from your parents

Practical money skills and financial tips for college students

Dear Money Mentor: What is cryptocurrency?

5 tips for seniors to stay a step ahead of schemers

Recognize. React. Report. Caregivers can help protect against financial exploitation

Is online banking safe?

Identity stolen? 5 steps to take immediately

Webinar: U.S. Bank asks: Are you safe from fraud?

8 tips and tricks for creating and remembering your PIN

Know your debt-to-income ratio

How to use your unexpected windfall to reach financial goals

U.S. Bank asks: What do you know about credit?

Military homeownership: Your guide to resources, financing and more

Crypto + Homebuying: Impacts on the real estate market

Webinar: Mindset Matters: How to practice mindful spending

Consolidating debts: Pros and cons to keep in mind

Webinar: Smart habits and behaviors to achieve financial wellness

I own two electric vehicles. Here’s what I’ve learned about buying and driving EVs.

Improving your credit score: Truth and myths revealed

Can you take advantage of the dead equity in your home?

How I did it: Turned my side hustle into a full-time job

Costs to consider when starting a business

Should you buy a house that’s still under construction?

Start of disclosure content

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rate and program terms are subject to change without notice. Mortgage, home equity and credit products are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC.

U.S. Bank is not responsible for and does not guarantee the products, services or performance of U.S. Bancorp Investments, Inc.