Internet banking today has evolved into a precise system that makes life easier. Whether banking online with actual banks or credit unions with brick and mortar locations, or banks or credit unions that operate solely online, working with the best would provide tremendous benefits. Standard services include managing checking and savings accounts such as reviewing statements, transferring money, etc but other services include wire transfers, loan applications, etc.
However, one of the most exciting features now offered with internet banking is EBPP or Electronic Bill Presentation and Payment. Although online bill payment options have existed for some time, thanks to new and more innovative technology, as well as better systems, this opportunity has improved dramatically. The way bills, including paying credit card bills, can now be paid with internet banking makes it possible to accomplish a number of tasks, conveniently, quickly, and efficiently, with an online banking service like those offered at Breeze by Standard Chartered
Using Electronic Bill Presentation and Credit Card Payments
While each bank may have a slightly different system, most operate in much the same way. For instance, with internet banking you could choose for bills to be paid automatically with money coming from your savings or checking account and on a specific date. Recurring payments could also be setup for bills due monthly such as the phone bill, utility bill, cable bill, and so on. In both instances, once the payment has been made and confirmed as being processed, you would receive notification via email or text based on personal preference.
Of course, along with scheduled payments using internet banking, you would be able to make a single payment to any merchant or company within the United States. In addition, many bills can be received within the internet banking site, with many financial institutions offering a system whereby they could be filed and stored online. This makes it easier to categorize the bills, make payments, and create a variety of reports to manage your finances or file taxes.
In most cases, EBPP services are free to members and if assistance were ever needed, several options exist. For instance, questions could be answered or problems resolved through a representative of the financial institute via phone call, text-based instant messaging, or through a secure online form. However, many of the more common questions and issues are typically provided through a number of tutorials found online as well.
Online Banking Options
If interested in using the internet banking payment option, you would simply need to sign up for the service, which requires just a few minutes of your time. Once the registration process has been completed, it usually takes two to three days for everything to be completed at which time the internet banking payment option would be available to use. Now, along with the electronic type of payment processing, online financial institutions also make it possible for payments to be made by check. With this, instead of merchants and creditors receiving payment electronically, the online bank would actually issue a check to them on your behalf.
As you can see, using EBPP for making payments through internet banking is an excellent option but often, online financial institutions will have some restrictions. For instance, the online financial institution may not allow certain payments to be used with the bill processing system such as tax payments, court directed payments, government related payments, etc. Therefore, it would be important to read the terms and conditions prior to setting up an account. That way you have confidence the internet banking option is right for your needs.
