Auto Pay vs Bill Pay

03. Jul Larry

The days of mailing payments has passed. It is an antiquated method of paying bills because there’s too much stress behind it. You have to mail the payment in a timely fashion and hope the payment reaches the biller in time. And if it does not, you could very likely incur late fees! In addition, you always need a fresh supply of envelopes and stamps in your home or office. Luckily, times have changed and we’re getting better at doing things. Now, we pay our bills online because it saves us time and money, and most importantly, it decreases our stress. No stamp or envelope needed, and you can pay your bill the day before it’s due because online payments are accepted nearly instantly. Whenever you pay online, you are decreasing your carbon footprint, avoiding the cost of postage, envelopes, checks, and gas, and you are limiting or eliminating late fees with on-time payments. There are two common options of paying bills online: bill pay and auto pay. Bill pay is when you set up payment of bills through your bank account, credit card, or debit card. You initiate payment when you want to or have to.  Auto pay is when you authorize the biller to schedule payments on your behalf. Though the end result is that your bill will be paid, there are advantages and disadvantages to both options. See how the two pair and find your option to online payments. Bill and Auto - Advantages The best advantage to bill pay is that you don’t have to provide the vendor with authorized access to your bank account. Many people have chosen bill pay for this single reason because not having to provide the vendor with your banking information means there’s a smaller risk to unauthorized transactions to your account. The best advantage to auto pay is that you set it up once and you won’t have to worry about it. The vendor will automatically schedule payments on your behalf and you will receive an email invoice when the process is completed. Auto pay is convenient for those with little time to themselves. Now for the disadvantages. Bill and Auto - Disadvantages Though you protect your banking information with bill pay, you must constantly devote time to making online payments and you must always remember to pay the bills. You run the risk of forgetting a payment if you’re not mindful. The vendor does not know how much money you have in your bank account, so you run the risk of overdrafting your bank account. In addition, automations can sometimes cause errors so you may have committed a double payment or you didn’t pay at all. Between the two options for online payment, there is no clear victor as everyone has different needs. If you’re unsure as to which option is best for you, contact us at We’ll help you figure things out!

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