This isn’t a new problem for anyone; you know you paid your bill on time, yet the next month when you receive the bill there’s a finance charge for a late payment.

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You call the company to complain (at least some people do) and you get angrier. After jumping through the hoops of 5 different buttons and giving out information to an electronic helper, you finally get someone on the phone. You’re told that they received the payment a day after it was due, and thus the finance charge.

You know you sent the payment out a week ahead of time, but you’re toldthat sometimes it takes 2-3 weeks before a payment reaches them, then a few more days before your payment’s processed. If you’re lucky, the person you’re talking to might remove the finance charge as a one-time favor if you’ve been a great customer over the years.

How come when we talk to these creditors and tell them that we didn’t get a bill from them we’re the ones who are doubted, yet when it’s the creditor we’re supposed to buy this line that it can take so long for them to receive a payment?

I had that happen to me many years ago, when a payment I sent in for my cable bill 2 weeks in advance still hadn’t been posted by the time I got the next bill, with them saying they rerouted payments and it could take a month for them to get posted. We’re not as stupid as they think we are; how many businesses could survive if they were getting all their payments, through our very reliable postal system by the way, 30 days late?

These stories highlight the benefits of making many of your payments for your bills online. As a matter of fact, here are 6 reasons why paying your bills online are better than the alternative.

1. Bill payments are posted at a maximum two days later than your actual payment. This is a trick that legislation might change at some point, but even with this little game, knowing that you posted your payment on the 15th and that it will definitely show by the 17th eases the mind.

2. You can print a receipt as soon as you make your payment if you want to. They give you a receipt page that you can print, and most sites will also allow you to set something up so you can get your receipt through email as well. However, you really don’t need to print the receipt because not only will your payment show up in their records but it’ll show up on your checking account within 24 hours, probably sooner.

3. You can make multiple payments in a month to reach your monthly amount due, as long as you’re making those payments before the due date. If you like to budget your money and payments come to you in different ways, you could set your budget so that you pay half of your owed amount one week, and half the next week. Believe it or not, you actually reduce your balance quicker that way, based on how banks calculate interest.

4. You save money on postage and time on paperwork. You don’t have to write out a check, fill out an envelope, and pop a stamp on that envelope, as well as go to the post office or find a blue bin to put your envelope in. Heck, how much are stamps at this point?

5. There are multiple ways to pay your bill online. You can go to the website of your creditor and pay through them. You can pay your bills through your bank account online. If you wanted to you could pay your bill through an online service like Paypal, though I wouldn’t recommend it because the other two options are easier. My favorite option is paying through my bank. If the creditor accepts electronic payments, they’ll have your payment within a day. You can make multiple payments to multiple creditors all at once; I pay all bills on the 1st of the month to keep peace of mind. 🙂

6. More peace of mind is knowing that you not only have more time to deal with your payment, but that once you get that notice online saying they’ve processed your payment (usually via email), it’s done. No fuss, no mess, and no more worries and lies from your creditors. Payments are secure, and your information is safer that way. No worries that someone else will get to your letter first, and as long as you protect your computer, you’ll be just fine.

Have I convinced you?

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